Friday, May 18, 2012
Fact Finders - We provide expert opinion and evidence. Fraud and forensic accounting at Bodilly CPAs and Consultants.

Fraud and Forensic Accounting

So you’re being sued, the IRS is on hold on the phone, and you have receipts in a shoebox? Or your dog ate them? No problem.

Forensic accounting 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. In our experience we have learned that the courts want to be able to understand the basis for a calculation. It takes the combination of experience and presentation to be able to identify numbers in a way that everybody can understand where they came from. This is what we do.

We utilize an understanding of business information and financial reporting systems, accounting and auditing standards and procedures, evidence gathering and investigative techniques, and litigation processes and procedures to perform our work. Forensic accountants are also increasingly playing more proactive risk reduction roles by designing and performing extended procedures as part of the statutory audit, acting as advisers to audit committees, fraud deterrence engagements, and assisting in investment analyst research.

One of our partners, Stephanie Barganz, brings a rare combination of the vocational experience with designations as a Senior Professional Human Resources (SPHR), Certified Valuation Analyst (CVA) and Certified Public Accountant (CPA).

This combination allows her to assess cases with a variety of wage impacts, calculate and present them in a manner that is suitable for both attorneys and jurors.

Find Bodilly CPAs & Consultants on LinkedIn   Find Bodilly CPAs & Consultants on Facebook   Follow Bodilly CPAs & Consultants on Twitter     We are Pro-Advisors. Ask Wendy what that means for you!

 

“Over the course of thirty-five years as a trial lawyer, I have rarely worked with an expert whose forensic accounting skills and ability to communicate and defend her expert opinions rival those of Stephanie Barganz. I will continue to look to her for critical litigation support.“

~ Michael P. Erhard
Erhard & Payette, LLC
Attorneys at Law
 

What is a Forensic Certified Public Accountant?

A Forensic Certified Public Accountant carries expertise as a CPA and a forensic accountant.
A Forensic Certified Public Accountant carries expertise as a CPA and a forensic accountant.

Forensic CPAs utilize accounting and auditing skills, while also applying investigative skills to uncover what actually took place in a particular financial setting or transaction. Forensic accountants conduct investigatory accounting work in preparation for prosecution and litigation. They identify evidence of irregularities in financial statements and non-financial records and build compelling cases for what that evidence shows. Forensic accounting requires familiarity with both criminal and civil law. They must use hundreds of techniques from statistics to psychological profiles.

Sophisticated accounting techniques are necessary to detect, trace and resolve frauds — especially when the results may impact financial statements, according to Risk Consulting Firm, Kroll Worldwide. “The skills of forensic accountants are essential both to uncovering the extent of certain frauds and to negotiating the regulatory challenges which they entail,” said David Hess, Managing Director in Kroll’s Forensic Accounting providing expert knowledge of fraud and forensics to clients. We are as a resource in the fight against fraud, theft and embezzlement, and offer a full-range of financial forensic services that include fraud and misconduct investigation, forensic accounting fraud, financial litigation support and consulting expert witness.


  Copyright 2011 by Bodilly CPAs & Consultants, LLP
            powered by KMI