Investigative and Forensic Accounting
Forensic accounting is a specialty practice area that applies accounting concepts along with data analysis and auditing techniques, in the investigation of financial transactions, processes and reporting. Forensic accounting engagements often involve actual or anticipated disputes and the investigation of accounting and financial issues. Investigations include suspicions or allegations of fraud, asset misappropriation, waste, mismanagement or misuse of funds, or “white-collar crime.”
Our clients are companies, boards of directors, creditors, investors and other parties that are potentially impacted by the transactions or issues involved.
Schneider Downs’ forensic accounting professionals include Certified Fraud Examiners (CFEs) and those who are Certified in Financial Forensics (CFFs) – individuals who are experienced at analyzing, interpreting and presenting complex financial issues in a clear and usable format. Forums have included courts, arbitration panels, investigative agencies, law enforcement, and regulatory bodies.
Examples of the forensic accounting investigations in which we have participated include:
- Fraud and asset misappropriation schemes involving bookkeepers, controllers, managers and executives
- Use of construction loan proceeds by developers
- Allegations of fraud, waste and fair dealings in the operation of a business
- Analysis of Ponzi schemes
- Public corruption and misuse of funds
- Misuse of funds by a fiduciary
- Reconstruction of sources and uses of restricted funds and grants
- Examination of related-party transactions as a part of bankruptcy
- Internal investigations or disputes
- Analysis of investor fund usage
- Investigations of the financial condition of businesses on behalf of lenders and investors
By understanding our clients’ objectives and circumstances, our specialists are able to quantify the impact and potential losses incurred, and design and implement internal accounting and management controls for loss prevention and risk management.
Forensic Accounting Services Experience – Types of Fraud Investigated and Examples of Forensic Accounting Matters Conducted