Forensic Accounting

A poor internal control system is a key factor in business fraud. Instead of waiting for something to go wrong before investigating, a better approach to preventing fraud is to be proactive.

Unfortunately, many businesses do not prepare for eventualities, making it appear as if they do not think fraud can happen in their business. To make things worse, many cases of fraud go undetected for very long periods – sometimes, even more than a year. The result is monumental losses, especially for small businesses.

Fraud can be caused by inadequate internal control in the form of:

• Improper oversight function by business owners or the management of a company
• Poor separation of duties in an organization or department (particularly in the accounting department)
• Excessive trust in individuals, especially those with accesses to finances

At Chaudhry, CPA our forensic accounting experts can quickly detect fraud, regardless of how long it has been covered. Our team can dig deep to uncover, identify, and recover hidden assets in addition to providing due diligence reviews and other related services.

We follow forensic accounting practices to help our clients to get positive outcomes. Unlike regular accounting, our forensic experts look beyond your business numbers using investigating and auditing skills to tackle the business reality of a situation.

Our experts do not only uncover fraud in your business; we can also determine if there is a likelihood of someone or a group of people planning to commit fraud.

We can successfully assess whether any of the following crimes has occurred or is about to happen:

• Falsification of financial reports (financial statement information)
• Identity theft
• Employee theft
• Securities fraud
• Insurance fraud

Forensic accounting is not limited to fraud or criminal investigations alone. It can also help in litigations, particularly when damages need to be quantified.

For example, disputes may arise due to benefits and compensation. We can provide quantifications to help in resolving the disputes.

Area of Specialization

We specialize in a wide range of general accounting services, and particularly in forensic accounting in the following areas:

• Accountant malpractices
• Bankruptcy
• Breach of contract
• Corporate misconduct and fraud
• Divorce

What We Offer

Our forensic accounting services cover the following areas:

Due Diligence Reviews:

• Analytical reports
• Collection of evidence
• Financial analyses
• Operational analyses
• Trend analyses

Litigation Support Services:

• Asset recovery and damage analysis
• Bankruptcy accounting
• Business dissolutions
• Calculating economic damages and lost profits
• Full audit services
• Malpractices
• Preparation for deposing financial witnesses
• Shareholder disputes

Internal Control Consulting and Risk Management:

• Design and testing
• Documentation
• Full risk assessment
• On-site training and seminars

Regardless of the type of forensic accounting service that you may require, we do not only focus on historical data, as that may result in leaving out vital current information. Instead, we use a holistic approach in our auditing and investigations.

Do not hesitate to contact us if you require forensic accounting services or if you want to learn more about the topic.