SME's / Corporations / Organisations / Law Enforcement Agencies / Legal Community
Until recently, detecting fraud, white collar or financial crime was thought to be part of the accounting function. Fraud was something the internal or external auditors were expected to guard against by their periodic audits. However, most auditors only check for financial compliance in accounting records. This does not go deep enough, thus a new category of accounting is required to substantiate suspected financial irregularities. This specialist area of accounting is known as forensic accounting.
Within this new area of accounting there are two broad classifications or areas of practice: Litigation Support Specialists and Investigative Accountants.
Litigation Support Specialists handle various categories of business valuation, revenue analysis, expert witness testimony and future earnings' evaluation, to name a few.
Investigative Accountants have two areas of emphasis, seeking out evidence for criminal or civil action or to dispel or support damage claims.
