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It is common to have questions about what forensic accounting is and how it differs from more known areas of accounting such as audit and tax. If you can't find the answer to your questions, ask us.

Common Forensic Accounting Questions

What is forensic accounting?

Forensic accounting is not "accounting for dead people" (yes, we've been asked this many times). Also known as investigative accounting, forensic accounting is a detailed examination and analysis of financial documents and records for use as evidence in a court of law.
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Who retains forensic accountants?

Forensic accountants are retained by law firms, corporations, banks, government agencies, insurance companies, and other organizations to analyze, interpret, summarize and present complex financial and business related issues in a simple and concise manner.
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How is forensic accounting different from an audit?

The difference between the public’s expectation of the purposes and objectives of an audit and the CPA’s responsibilities under Generally Accepted Auditing Standards has been referred to as the “expectation gap”. Forensic accounting can help to bridge the expectation gap.
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What are potential red flags of fraud in my business?

In many cases, we are initially retained to review financial records because of a hunch or suspicion by one party that fraud or accounting irregularities are being facilitated by another party.
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Common Business Valuation Questions

What kind of information will I need to gather for a business valuation?

The information we typically request for a business valuation differs based on factors such as the entity’s corporate form, the type of accounting system used, the availability of projections, and the willingness of management to provide information.
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Why might I need a business valuation?

We often perform business valuations for mergers and acquisitions, marital dissolution, dissenting shareholder actions, tax planning, succession planning, or intellectual property disputes. However, there are many more reasons to perform a valuation of your business.
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Common Economic Damage Questions

How much does an economic damage analysis cost?

The information we typically request for a business valuation differs based on factors such as the entity’s corporate form, the type of accounting system used, the availability of projections, and the willingness of management to provide information.
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