Forensic Accounting legal definition of Forensic Accounting. Forensic Accounting synonyms by the Free Online Law Dictionary.

Forensic accounting, sometimes called investigative accounting, involves the application of accounting concepts and techniques to legal problems. Forensic accountants investigate and document financial Fraud and white-collar crimes such as Embezzlement. They also provide litigation support to attorneys and law enforcement agencies investigating financial wrongdoing.

Many different organizations consult forensic accountants. Corporations hire forensic accountants to investigate allegations of fraud on the part of their employees, suppliers, or customers. Attorneys consult forensic accountants to obtain estimates of losses, damages, and assets related to specific legal cases in many areas of the law, including Product Liability, shareholder disputes, and breaches of contract. In criminal investigations, forensic accountants analyze complex financial transactions such as those in Stock Market manipulations and price fixing schemes. They also help governments achieve compliance with various forms of regulation.

Forensic accountants typically become involved in financial investigations after fraud auditors have discovered evidence of deceptive financial transactions. After conducting an investigation, they write and submit a report of their findings. When a case goes to trial, they are likely to testify as expert witnesses.

Further readings

Arnoff, Norman B., and Sue C. Jacobs. 2001. "Forensic Accountant's Role as Expert Before and During Trial." New York Law Journal 226 (August 17): 3.

Bologna, G. Jack, and Robert J. Lindquist. 1985. Fraud Auditing and Forensic Accounting. 2d ed. New York: Wiley.

? References in periodicals archive
The second proposal would revise Ethics Interpretation 101-3, Performance of Nonattest Services, to add guidance on how the provision of forensic accounting and tax compliance services affects independence. Rule 101, Independence by California CPA A Guide to Forensic Accounting Investigation By Thomas W. A Guide to Forensic Accounting Investigation by Hayes, Michael / Journal of Accountancy Hydoski, who is joining Deloitte as a director in its New York office, has extensive experience in designing and developing analytical databases and "will assist Deloitte FAS with the development of new products and approaches in the forensic accounting and investigations areas," the firm said in an announcement. Ex-UN forensics chief is hired by Deloitte by Heffes, Ellen M. / Financial Executive More results

References in periodicals archive

The second proposal would revise Ethics Interpretation 101-3, Performance of Nonattest Services, to add guidance on how the provision of forensic accounting and tax compliance services affects independence.

Rule 101, Independence by California CPA

A Guide to Forensic Accounting Investigation By Thomas W.

A Guide to Forensic Accounting Investigation by Hayes, Michael / Journal of Accountancy

Hydoski, who is joining Deloitte as a director in its New York office, has extensive experience in designing and developing analytical databases and "will assist Deloitte FAS with the development of new products and approaches in the forensic accounting and investigations areas," the firm said in an announcement.

Ex-UN forensics chief is hired by Deloitte by Heffes, Ellen M. / Financial Executive

More results