Perhaps you are going through the litigation process and you need help quantifying the damages you’ve sustained in a recent incident. You are looking for someone who can provide you with an accurate measurement of your losses.
Simply put, you need the truth.
The good news? A certified forensic accountant can help you determine the truth quickly and efficiently. In other words, they will use numbers to help bring clarity to your complex situation at hand.
Here is a rundown on everything you need to know about the services offered by forensic accounting firms.
What Is a Certified Forensic Accountant?
A certified forensic accountant is an accountant who applies scientific techniques and methods when investigating legal issues or crimes. Forensic accounting firms are usually required when financial arguments must be decided while issues are being litigated in courts of law.
A forensic accountant essentially specializes in solving compliance and financial puzzles for individuals as well as governmental entities, nonprofits, and businesses by systematically investigating data. Through such investigations, accountants should be able to arrive at truthful conclusions that will help their clients to achieve their unique goals.
Note that a certified forensic accountant can prove helpful in a wide variety of situations. For instance, aside from damage calculations, this type of accountant can work on the following matters:
- Corporate internal inquiry
- Shareholder dispute
- Contract dispute
- Fraud involving a financial statement
- Asset misappropriation
- Divorce
- Bankruptcy
Municipalities, charities, and corporations also use forensic accounting firms to perform proactive assessments of fraud risk to prevent fraudulent activity long term.
Do You Need a Certified Forensic Accountant If You Already Have an Attorney?
If you are currently working with an attorney on your legal case, you may be tempted to bypass the services of a certified forensic accountant. However, hiring a forensic accountant who can work in tandem with your attorney is expedient for multiple reasons.
First, forensic accountants are trained to solve complicated financial cases, so they possess specialized knowledge and also offer a unique outsider perspective that may prove beneficial to your case. In addition, forensic accountants can easily expand your attorney’s capabilities by providing facts and resources that will support the successful resolution of your case.
How to Work with a Certified Forensic Accountant
If you decide to hire a forensic accounting firm, it is paramount that you enlist the firm’s help as soon as possible, even if its services are not needed immediately. That is because a forensic accountant can assist you in discovery, strategy, and even rebutting any opposing professionals.
Also, be prepared to work collaboratively with your forensic accountant. This means you need to share with the accountant your end goals upfront so that he or she can take the necessary steps to meet your expectations.
Keep in mind that reputable forensic accountants are capable of managing large numbers of documents and records, and can transform the information into understandable reports featuring facts that support their unique professional opinions.
The right forensic accountant will also have some familiarity with today’s legal process and with regulatory agencies. Likewise, the accountant you select should be able to remain objective and employ common sense. Advocating for you is your attorney’s job, whereas analyzing data and supporting a professional opinion using facts is your accountant’s job.
Seek the Guidance of an Experienced Accounting Firm Today
If you are looking for an accountant, we at DMJPS & Co., PLLC can help you to achieve your legal and/or financial goals. We take pride in offering a wide range of services, including accounting, tax services, auditing, and fraud detection by our Certified Fraud Examiners (CFEs). We also offer management, financial, and tax planning services for professional industries, as well as business consulting.
Founded in 1949, we are a Top 300 INSIDE Public Accounting Firm due to our demonstrated success in the accounting field. During our more than 70 years of experience in the industry, we have developed a reputation for offering a high quality of service every time. Businesses and individuals all over the world also benefit from our specialized industry knowledge.
Submit a contact form at https://dmjps.com/contact-us/ to begin the process of tackling your financials and securing the solution you need today.