As forensic accountants, we are often delivering papers to various conferences and legal firms and we are pleased to be able to bring those seminars closer to you in Bathurst. On 14 October 2010 at Citigate Mount Panorama, Bathurst, we are…
There are a number of Expert Witness Codes of Conduct and luckily they all focus on the important duties of independence, expertise and an overriding duty to assist the court.
We use Google and the internet as a valuable research tool in almost all our forensic accounting litigation matters. The information available enables us to check the stories of both the plaintiff and defendant against other sources of information.
Financial Statements tell a story
As forensic accountants, one of the first places we examine is the financial statements and income tax returns. To us they tell a story. The financial statements are a record of all the transactions of the business. We examine the trends and ratios of a business –
- Are they consistent with a business of this type?
- Are they consistent with the alleged activities and events of the parties?
- Is there cash not being declared?
- How is the business financed?
- Is the growth or decline of the business consistent with other ratios and transactions in the business?
Use of the Internet as a Research Tool.
Once we have examined the alleged facts and the financial statements, we look to the internet to provide us with further confirmation of the facts and financial statements. The following is available on the internet:
A simple google search of the individuals and the companies involved. We have found the following from a simple searches that only take a few minutes:
All business owners, no matter what size their business, need to understand the language of business … accounting.
Accounting can be simply described as keeping track of money. But the real benefit of accounting comes from understanding the relationships between the profit & loss statements, the balance sheet and cashflows.
I thought that we should look at purchasing fraud, which covers purchases made by employees on company credit card or company account.
Forensic accounting is not as glamorous as it may sound, writes Arnold Shields, but a good practitioner can provide vital analysis in support of a case. Shields explains how forensic accountants can help, and what lawyers should look out for
Due diligence or business review is an essential step in evaluating a target business or new business venture. It involves a detailed study of all aspects of the business.