Melanie Taylor, CPA/CFE
Forensic accounting, forensic accountancy or financial forensics is the specialty practice area of accountancy that describes engagements that result from actual or anticipated disputes or litigation. "Forensic" means "suitable for use in a court of law", and it is to that standard and potential outcome that forensic accountants generally have to work. Forensic accountants, also referred to as forensic auditors or investigative auditors, often have to give expert evidence at the eventual trial.
The information below will provide you with a better understanding of how I can help with your forensic accounting needs. I personally invite you to call me at 254-965-7321 or email me at Melanie Taylor, CPA/CFE for any of your forensic accounting questions.
Questions to ask yourself.
Do you worry that you or your business might be the victim of fraud?
Do you need to analyze your financial data to uncover potential misconduct?
Are you investigating an entity for possible acquisition and need to ensure the absence of financial irregularities? Maybe you're involved in litigation and require an expert witness to testify on your behalf?
If any of these situations apply, you need our Forensic Accounting services.
Who Needs Forensic Accounting?
Forensic accounting - also called financial forensics or forensic auditing - is an area of accounting that investigates actual or anticipated disputes.
Disputes can range from business-related litigation to marital dissolution. We handle both litigation support and investigative accounting.
This area covers accounting assistance for current or pending litigation.
For a litigation assignment, we...
Occasionally, you may need to explore whether fraud or misconduct has occurred, such as employee theft of property or inventory, misappropriation of funds by employees, kickbacks to employees from outside businesses, securities fraud, and insurance fraud.
With our investigative accounting services, we bring to bear our accounting knowledge and experience in the field to give you a clear understanding of the situation. When you retain our expertise, we skillfully...
Forensic Investigations Take a Variety of Forms
The services of a forensic accountant are required for a range of investigations across many different industries.
Here are the most common assignments in forensic accounting:
Disputes Among Shareholders or Partners. The compensation and benefits given to each of the shareholders or partners is one of the more common issues in these cases.
Personal Injury Claims / Motor Vehicle Accidents. When economic losses from a personal injury or vehicular accident are in question, a forensic accountant is brought in.
Insurance Claims. Because insurance policies vary greatly in their terms and conditions, such engagements require a thorough policy review to determine the appropriate method of figuring the loss. A forensic accountant can assist from either the insured or the insurer's standpoint.
Business/Employee Fraud Investigations.The investigation of employee fraud often requires a determination of the extent of the fraud. It may or may not include the identification of a perpetrator. Many times, such assignments necessitate interviews of staff who had access to the funds.
Matrimonial Disputes. Usually, when a dispute of this nature arises, forensic accountants must locate and evaluate the disputed assets, be they businesses, property, or fiduciary.
Business Economic Losses.These kinds of engagements include contract disputes, construction claims, expropriations, product liability claims, trademark and patent infringements, and losses stemming from an alleged breach of a non-compete agreement.
Give Us a Call
If you think you have reason to be concerned about financial misconduct, please call us today. We are happy to offer a free initial consultation to help you determine whether our services are needed.
At BMY, we've been serving the accounting needs of Stephenville, TX and the surrounding areas for years. If you need help managing any aspect of your home or business's finances, we want to hear from you.
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