Forensic Accounting

Forensic accounting involves specialized knowledge and investigative techniques to obtain, analyze, and evaluate evidential matter. These services are built upon skillsets that include an understanding of how financial impropriety or litigation matters relate to the overall financial status of your business.The interpretation and communication of findings – the how, what, when and who as well as the “how much” — assists clients in successfully navigaing their most difficult situations. Experience and credibility with executive management, boards of directors, legal counsel, law enforcement, and regulatory bodies serve as a client’s best tool in effectively addressing urgent matters such as litigation or allegations of financial impropriety.

Forensic accountants will support people through the scope of identifying, investigating, and responding to each client’s matters. They will assist in areas such as:

  • Financial fraud and misstatements (including key omissions);
  • Asset misappropriation, including but not limited to:
    • Embezzlement of company funds through various schemes.
    • Vendor or other third-party fraud.
    • Misuse of expense reimbursement procedures.
    • Employee self-dealing or self-enrichment through kickbacks and other methods.
  • Whistleblower allegations.
  • Complex financial business litigation or pre-litigation matters such as merger/acquisition disputes and lost profits from breach of contract, business interruption or other events.
  • Reconstruction of books and records.
  • Remediation strategy and planning, monitoring.

Our practice seeks to assist our clients by providing timely and effective responses to potential issues. The first step in assisting you is to assess any alleged wrongdoing or errors, and to design strategic planning steps to discreetly gather and address relevant information.

After initial scope and strategy, the investigative procedures we apply strive to efficiently expose the existence and extent of the issues. We assist to investigate, for instance,  potential wrongdoing, flaws in financially complex claims against a client, and quantification of losses. Our work is collaborative, and we strive to consistently update our clients on the status and progress of findings. Our work  culminates in the ability to communicate and report on the outcome with clarity.

In addition, remediation assessments can be provided based upon  lessons learned – improvement plans to relevant weaknesses of internal controls, processes and procedures. We can also provide periodic monitoring of progress in implementation of remediation plans.

Our professionals are collaborative and team-oriented, and provide the experience necessary to address most forensic accounting needs. Areas of technical expertise include  GAAP, financial reporting and disclosures, internal controls, analysis of complex financial data, and investigative skills such as interviewing.

A relationship with One River CPAs will help you navigate the often uncertain waters surrounding forensic accounting. Please reach out to our office to learn how we can assist you through these processes. 

 

 

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Forensics

Catherine J. Connolly

CPA, CFF
Director of Forensic Accounting