Forensic accounting is accounting that is suitable for legal review and court, with conclusions that have been arrived at with scientific methodologies. Forensic accounting is extremely thorough and complete so that it is sustainable in an adversarial legal proceeding, offering the highest level of assurance.
Forensic accountants are called upon to play important preemptive roles, offering independent assurance in audit committee advisory services, merger and underwriting due diligence, investment analyst research, and enterprise risk management.
The specialization of forensic accounting demands a standard of professionalism that begins with the obligation of CPAs, but goes farther in demanding independent and objective reporting of economic transactions.
When Do I Need a Forensic Accountant?
- Business Valuation
- Mergers & Acquisitions
- Risk Management
- Estate Planning
- Legal Settlements
- Income Taxes
- Investment Analysis
- Due Diligence
Forensic accounting focuses on the evidence of economic transactions and whether or not they were reported within an accounting system. Forensic accountants detect and interpret the evidences of non-fraudulent and fraudulent facts introduced into the records of an accounting system and the effects upon the accounts and inventories. Forensic accounts utilize cause and effect analysis. For example, when the forensic accountant discovers deception and fraud, he will look for the monetary effects within the accounting system.
Certain SEC Rules, including some related to the Sarbanes-Oxley Act, provide CPAs with a powerful tool which makes it unlawful to mislead “any independent public or certified public accountant” in a variety of engagement situations.
Forensic Accounting Services
Mr. Al Golden specializes in providing litigation support, expert witness, and forensic accounting, income and estate taxation, comprehensive business valuation, complete CFO and controller services. Mr. Al Golden is a Certified Public Accountant (CPA), Certified Valuation Analyst (CVA), a Diplomat of the American Board of Forensic Accounting (DABFA), Certified in Financial Forensics (CFF), and is a member of the American Institute of Certified Public Accountants, the National Association of Certified Valuation Analysts, and the American College of Forensic Examiners.
How to Decrease Your Taxes with Charitable Tax Deductions
December 26, 2014
What is Forensic Accounting?
December 22, 2015
When is it Too Late to Protect Assets?
May 4, 2016