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The field of forensic accounting is used to solve cases involving property including fraud. Forensic means something related to solving crimes or other legal matters scientifically, and should not be confused with medical or genetic forensics.

The accounting standards must produce the highest accuracy results possible for submission into a court of law. The forensic accountant or forensic auditor may work on any case involving matters of accounting including those involving fraud, breach of contract, insurance claims and civil disputes. They also do work that does not involve the courts.

Forensic accountants or auditors are sometimes called to provide expert testimony in court in addition to their investigative reports. They may also be asked to provide litigation support in which case they offer advice and other services to attorneys.

When called to investigate a case, the forensic auditor gathers all the evidence first as quickly as possible to lessen any chances of tampering. All financial records from office correspondence to bank statements and storage disks are examined using techniques to quickly spot signs of fraud or other accounting irregularities. Once the investigator has gained knowledge through this examination, they will then proceed to interview all relevant persons for more information that can help solve the matter. In criminal cases, the investigator may be forced to use warrants or subpoenas to acquire evidence or to compel people into interviews.

Once they have completed all of the initial information gathering, the forensic accountant can then begin to analyse the evidence searching for the ultimate answer as to what happened to the missing money. Their conclusions or findings are then published as a report for submission to the court. In some cases, the forensic auditor may also be called on to testify in person if further clarification is needed.

In addition to investigative work, forensic accountants also give litigation support to attorneys who need advice on financial matters. Types of litigation support can include calculating damages and losses.

In cases of civil disputes, the forensic accountant may work on disputes related to determining losses or damages, and business valuation. In marital cases, the accountant works on tracing and assigning a value to all assets for the purpose of property division.

Forensic accounting is also used by companies internally to prevent fraud and other misconduct beforehand. Or companies may suspect misconduct, and will hire an accountant to conduct a preliminary investigation. They may be asked to conduct mediation and arbitration to solve certain types of disputes.

The forensic accountant is often also a Certified Public Accountant or possesses other licenses or certifications. They generally use advanced accounting and auditing procedures, including software accounting programs, during their investigations. Of course, they must also be trained in legal matters from litigation to evidence gathering and legal interviews. The investigative accountant, then, must be trained both in investigative accounting and legal processes. Some forensic accountants are also skilled in non-court matters such as corporate fraud prevention.

Christopher Williams is a Forensic Accountant and is an expert in the forensic accounting field. For more advice regarding forensic accounting please visit http://www.begbies-traynorgroup.com.