Who Needs a Forensic Accountant?
Any company would need the services of a forensic accountant when foul play or fraud is suspected. They are specially trained to lookout for “unusual” or suspicious entries in the company’s books. People who want to enrich themselves using any means possible would participate in illegal schemes such as money laundering, forging signatures, bribing staff members and setting up insider trading accounts. If any of theses activities are uncovered, the investigative skills of a specialised “number cruncher”, as accountants are sometimes called, would be necessary. If the company decided to take legal action, the forensic accounting expert would then be expected to deliver believable evidence in court.
Strangely enough, when a divorce is in the process of being settled, the financial issues can become quite a minefield to sort through – especially if one spouse has a tendency to lie, cheat and hide his or her assets. One would never think of a forensic accountant in terms of a divorce, but they do get called in to assist if money matters are being disputed.
It is clear that these questioning accountants often fulfill more than their plain jobs of keeping the books, forecasting expenditure and predicting financial results.