Forensic Auditing is one of the categories that are part of the Accounting area. For his part, a Forensic Auditor is in charge of using his skills and knowledge in those cases in which it is necessary to carry out a financial investigation. To do this, they combine their accounting, auditing, and investigative skills to detect irregular financial information, fraudulent activity, or commercial negligence.
The term “forensic” refers to the fact that the material collected is suitable for use in a judicial process, in the courts, or in courts before a judge.
Located in Aurora, Illinois, Studler Doyle is a global investigation and forensic accounting firm, with extensive background & experience in fraud investigation, fidelity investigation, and accounting education to its clients.
The profession of the Forensic Auditor may lead us to think that these experts are merely dedicated to the investigation and discovery of criminal activity, that is, embezzlement, fraud, corruption, and money laundering, among others. However, although their work is related to legal processes, it is not entirely common for them to work directly in criminal cases.
For example, the Forensic Auditors of Studler Doyle work for accounting and/or auditing firms, law firms, government entities, and companies interested in avoiding any type of financial scandal, in order to care for and improve their reputation. The professional field of these professionals extends to financial institutions, security forces, and insurance companies.
Principal functions
Here are the most common functions of a Forensic Auditor:
Examine the financial and accounting information of the company or client:
- Analyze the resources and obligations of the company.
- Ensuring accuracy and consistency in financial records.
Document and substantiate financial reports and so-called expert reports:
- Review clients’ financial books.
- Analyze profits and expenses.
- Make the balance of the financial books.
- Prepare reports on the financial status of your clients.
Manage and analyze information from financial records, systems, and budgets:
- Review the financial books.
- Detect discrepancies.
- Identify important information.
Conduct forensic investigations:
- Link the funds with their respective origin.
- Identify assets.
- Detect irregularities.
Prepare forensic reports to be used in court or in courts before a Judge:
- Prepare analytical information.
- Analyze profits and expenses.
- Detect discrepancies.
- Present your observations as evidence before the Judge.
Prevent possible cases of fraud by balancing the accounting books of a company.
Attend court to testify before the Judge
The demand for this profession has increased in recent years, as more and more companies are interested in having a Forensic Auditor in their ranks to avoid any possible scandal or case of embezzlement or fraud. If you need help handling an investigation, analysis, or litigation of suspicious insurance claims, don’t hesitate to contact Studler Doyle.