The proliferation of financial scandals and fraud in recent years has made forensic accounting one of the fastest-growing areas. They have required the frequent participation of accountants in processes of a legal nature and in most cases in cases of economic crimes. Companies due to corporate collapses and business failures are hiring forensic accountants to prevent as well as investigate various types of errors.
Forensic accountants work to investigate instances of financial fraud. They frequently work in a division of public accounting firms, risk consulting firms, insurance companies, and law enforcement. Forensic accountants are especially skilled at discovering all sorts of financial fraud.
Studler Doyle is an experienced global investigation and forensic accounting company, headquartered in Aurora, Illinois. The company has experience in most types of dispute processes encompassing: litigation, mediation, arbitration, adjudication, and expert determination. The forensic accountants of Studler Doyle analyze financial data to seek irregularities that might indicate fraud, and then they gather their findings to provide testimony in court, or for internal investigators.
Characteristics of the forensic accounting
Forensic accountants investigate, analyze, evaluate, interpret, and based on this testify and persuade judges, juries, and others about the financial information on which a presumption of crime weighs, therefore:
- The information is analyzed exhaustively.
- You think creatively.
- You must have a common sense of business.
- Master the basic elements of electronic data processing and has excellent communication skills.
- You must have complete discretion, extensive experience, and absolute confidence.
- Have certain knowledge in accounting, auditing, criminology, research, and legal issues.
Studler Doyle experts have been involved in a wide range of forensic investigations across diverse businesses, sectors, and jurisdictions.
Some examples of the areas of investigation are as follows:
- Financial crime – identifying whether any fraud has occurred, quantifying any such fraud, and advising on the prevention of financial crime.
- Internal investigations – reviewing and analyzing financial and non-financial data in order to assist in formal or informal investigations.
- Controls issues – reviewing the controls in place at an organization to identify deficiencies/risks and providing recommendations for improvement.
- Stolen cash – quantifying cash taken from entities and the methods used by the alleged perpetrator.