Financial Forensic Services

Auditing For Fraud

Auditing for Fraud is the application of audit procedures to business transactions in a manner that enhances the probability of identifying fraud.

It is the Forensic Accountants responsibility to detecting and identifying fraud, focusing on Statements of Auditing Standards No. 53, 82, and 99.

Auditing for fraud focuses on:

Detecting and identifying fraud and frauds’ critical indicators.
Describing the interconnection of financial reports, basic financial analysis, and fraud detection techniques.
Formulating and proposing an appropriate fraud deterrence, prevention, or detection mechanism.
Recognizing fraud audit programs.
Explaining the major outline of SAS 99 and an auditor’s professional responsibilities.
Developing skills in evaluating internal controls and assessing risks of fraud.

Business Valuation

Procedures used to estimate the economic value of an owner’s interest in a business. Valuation is used by financial market participants to determine the price they are willing to pay or receive to perfect a sale of a business. In addition to estimating the selling price of a business, the same valuation tools are often used by business appraisers to resolve disputes related to estate and gift taxation, divorce litigation, allocate business purchase price among business assets, establish a formula for estimating the value of partners’ ownership interest for buy-sell agreements.

Litigation Services

Forensic accountant as an expert consultant and expert witness in litigation matters. Damage calculations, business valuations, expert witness reports, expert witness testimony, and alternative dispute resolution are among the task carried out by forensic accountatns. Specific litigation areas addressed include those involving contract disputes; personal injury, wrongful death, and wrongful termination; bankruptcy; claims against accountants; employee fraud; tax fraud; insurance; divorce; and intellectual property.

Litigation services focuses on:

Using methods of alternative dispute resolution (ADR)—including mediation, arbitration, combined mediation/arbitration, mini trial, summary jury trial, and collaborative law—as well as services provided by the accountant in the ADR process.
Provide accountant services in various areas of litigation including employee fraud; criminal tax; insurance; divorce; bankruptcy; auditor malpractice; contract disputes and claims involving closely held businesses; personal injury, wrongful death, and wrongful termination; and intellectual property.
Assist an attorney with specific tasks, including proof of income analyses, damage calculations, forensic examinations, divorce settlement determinations, and business valuations.

International Accounting

Under the current business environment all businesses, directly or indirectly, compete in the global marketplace. International Accounting provides an overview of and a platform for understanding and discussion of comparative accounting issues and practices posed by the global environment through introduction and examination of accounting issues unique to international business activities.

A forensic accountant analyses the presentation and probe of issues faced by international firms around the world in areas of auditing, external financial reporting and standards, ethical, social, legal, cultural, control, taxes, foreign exchange, and accounting systems.

Business Crime & Ethical Behavior

Business crime and ethical behavior considers the acts, necessary intent, and defenses related to organizational, occupational, and white collar crimes. A forensic accountant is in charge of crime prevention, to help the criminal justice system that is in charge of the punishment.

Forensic accountants focus on the following tasks:

Analysis and investigation of white collar and business crimes inside an organization.
Analysis of white-collar and business crimes not limited to consumer and environmental crimes; securities, corporate, and fiduciary fraud; corruption and government crimes; and computer crimes.
Proportionate of appropriate defenses in representing business entities against charges of business crime.
Examine and appraise statutory law and ethics codes in their ability to prevent and reduce business crime inside an organization.
Develop strategies for corporation accountants to employ in preventing business crime and ensuring ethical behavior.

Internal Audit & Fraud Risk Management

Using a case-based approach, this explores the role of the internal audit in developing and maintaining an effective fraud risk management program for an organization. Emphasis is on the value of the internal audit as a critical defense against the threat of fraud. Fraud risk factors, fraud schemes and concealment strategies, preventive and detective controls, internal auditing standards, auditing processes and techniques, best practices in fraud risk management, fraud risk assessment, governance and ethics.

Internal Audit and Fraud Risk Management focuses on:

Analysis of fraud risk factors, fraud schemes, and concealment strategies inside an organization.
Analysis of roles and responsibilities of an organization’s internal audit function in managing fraud risk.
Provide standards and guidance for internal auditors, promulgated by The Institute of Internal Auditors.
Examination for the role of corporate governance in fraud risk management.
Analysis of barriers to internal audit’s effectiveness and independence in managing fraud risks inside an organization.
Evaluation of an organization’s fraud risk management system.
Description of the interrelated components of an internal control system.
Recommendation and implementation of generally accepted framework to evaluate an organization’s internal control system.
Conduct a fraud risk assessment on an organization.
Analysis of appropriate internal control procedures for preventing and detecting fraud inside an organization.
Analysis of limitations of an internal control system in preventing and detecting fraud.
Explain the concept of reasonable assurance as it relates to internal control.

Accounting for Mergers and Acquisitions

Accounting for Mergers and Acquisitions examines the financial reporting problems that arise from merger and acquisitions, including the involving complex, multinational entities.

Mergers and Acquisitions analyzes the accounting and reporting procedures used and the implications for stakeholders in business combinations.

The Forensic Accountant addressed topics as fair value accounting for business acquisition or merger, preparation and interpretation of consolidated financial statements, the tax implications and cross-currency translation if financial statements.

The Forensic Accountant role is to focus its attention on all key stages of the Mergers and Acquisitions (M&A) life cycle including conception, planning, the first 100 days post-merger or acquisition, due diligence of Intellectual Property, and ongoing evaluation and improvement.