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What are the primary areas of Forensic Accounting?
Home » Accounting » Forensic Accounting » What are the primary areas of Forensic Accounting?Forensic Accounting encompasses many areas, but there are two main ones, 1) investigative accounting and 2) litigation support and dispute resolution.
Investigation is determining whether a crime happened, such as employee theft, securities fraud, falsifying financial statements, identity theft, and insurance fraud. Actions can be recommended to minimize future risk of loss. Investigation can also occur in civil matters. For example, the forensic accountant may search for hidden assets in divorce cases.
Litigation support represents the economic facts presented in existing or pending litigation. The forensic accountant quantifies damages by parties involved in a legal dispute and assists in resolving disputes, even before they reach the courtroom. If a dispute reaches the courtroom, the forensic accountant may testify as an expert witness.
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