In the high-tech world today, there are all kinds of crime, and some, like financial crimes, have sprung back to life. That is also where the role of a forensic accountant, especially in the court of law, takes center stage. So, what is forensic accounting, and what does a forensic accountant do exactly?
What Is Forensic Accounting?
When anyone attempts to commit financial fraud, cheat the books, or make false insurance claims, for example, the help of a forensic accountant is required. Forensic accounting is the investigation of financial activity through the careful study and analysis of financial information.
What Does a Forensic Accountant Do?
The job of a forensic accountant is to evaluate, through a process of tedious investigation, all the financial activities involved in a case. From embezzlement to fraud, to insolvency, divorces, and skimming, among others, a forensic accountant is there to bring the truth to light.
The paper trail (and, in today’s world, the digital trail) does not lie. With the expertise, training, and skills of a forensic accountant, we can also follow that trail and hold those responsible accountable.
In the Court of Law
The testimony of a forensic accountant is akin to expert witness testimony. In other words, they hold the power to decide a case. The help of a forensic accountant is also persuasive in arbitration cases, and they can also afford other legal benefits.
In the case of financial crimes and wrongdoing, there is always evidence. The key is finding the right kind of detective, and in this case, that means a forensic accountant. In many cases, forensic accountants are employed by attorneys to support their client’s cases.
If there was a financial crime, there is a smoking gun, and forensic accountants like the team at Medina & Company Consulting Inc. can find it. That is what financial accountants do.
Medina & Company Consulting, Inc.
Welcome to Medina & Company Consulting, Inc. We are a forensic accounting firm based in the San Francisco area specializing in quantifying economic damages in the representation of insurance companies, attorneys, corporations, and individuals.
We have extensive experience in matters involving manufacturing, wholesale, retail, and service businesses having exposures ranging in size from several thousand dollars to millions. Protecting and getting justice for our clients is our first and only goal, and we emphasize service and value.
If you need us, we are here, and we are available to our clients any time to meet or discuss any matter. Contact us if you have any questions or to set up a consultation today.