How does Forensic accounting help in litigation?
April 1st, 2011Forensic accounting assists in various type of litigation to protect corporate fraud or in divorce settlements. Often, forensic accountants are called in case of fraud is suspected, and criminal investigations are pursued. The role of a forensic accountant is to analyze financial records in hopes of discovering the truth and evidence collection.
1. Meaning:
Several high-profile cases would not have succeeded without the help of forensic accountants. Here are some ways to help in litigation:
• Collection of documents that help support or rejection of a claim;
• Review documents to determine the losses;
• Helping to formulate questions to be asked during the “discovery;”
• Examine the evidence during the “discovery;”
• Assist litigants understand the financial aspects of the evidence;
• Working as a mediator or arbitrator in the settlement discussions;
• Testifying in court as expert witness.
Legal Help:
Visit msgcpa.com to contact Mark S. Gottlieb, CPA PC (MSG) is distinguished as one of the Tri-State’s premier business valuation and litigation support firms.