| Forensic Accounting |
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| CATEGORIES ABOUT FORENSIC ACCOUNTING | |
| types of accounting | |
| forensics | |
| accounting | |
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CATEGORIES AND EXAMPLES Engagements relating to civil disputes may fall into several categories: calculating and quantifying losses and Economic Damages , whether suffered through Tort or Breach Of Contract ; disagreements relating to company acquisitions—perhaps Earn Out s or breaches of Warranties ; and Business Valuation . Forensic accountants often assist in professional Negligence claims where they are assessing and commenting on the work of other professionals. Engagements relating to criminal matters typically arise in the aftermath of fraud. They frequently involve the assessment of accounting systems and accounts presentation—in essence assessing if the numbers reflect reality. FORENSIC ACCOUNTANTS Forensic accountants may be involved in recovering proceeds of crime and in relation to confiscation proceedings concerning actual or assumed proceeds of crime or Money Laundering . In the United Kingdom , relevant legislation is contained in the Proceeds Of Crime Act 2002 . Many forensic accountants are also Certified Fraud Examiner s and/or Certified Public Accountant s. Forensic accountants utilize an understanding of Business Information and Financial Reporting systems, accounting and auditing standards and procedures, Evidence gathering and investigative techniques, and litigation processes and procedures to perform their work. Forensic accountants are also increasingly playing more proactive risk reduction roles by designing and performing extended procedures as part of the statutory audit, acting as advisers to audit committees, Fraud Deterrence engagements, and assisting in investment analyst research. EXTERNAL LINKS
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