Forensic Accounting, financial forensics or forensic
accountancy is the area of accountancy that investigates a company or business
if there is an anticipated or actual disagreement or any litigation. Whether
you are investigating potential or actual fraud of a person or business, or are
going through a divorce need to find hidden assets, or if you need an expert
witness at trial, our accredited forensic accountants can help.
SDC CPA is a global investigative accounting team that
assembles to secure, collate and analyze corporate books, records and other
financial information to provide clear and concise, evidence-based reports to
boards, management and regulators in accordance with court standards. With this
article SDC CPA will try to clarify the concept, purpose and historical
development of Forensic Accounting, the types and factors that characterize it,
the reasons for its existence, resolve misconceptions and doubts in practice,
erase its secrecy and stop challenging the use of Forensic Accounting by people
who do not understand it.
The article also aims to explain the psychological
importance of bringing this profession into the standardization and
classification of occupations, and the distinction and differentiation between
supervision, control, audit and inspection, on the one hand, and Forensic
Accounting, on the other. A proper understanding of a profession that has a
much broader and scientifically based scope of action today will also eliminate
the danger of attempting to gain the monetary benefit of individuals through
its mystification.
Furthermore, with this paper, SDC CPA takes a closer look at
the profile of people who may be Forensic Accountants, the knowledge and skills
they need, speak to the seriousness of their methods and techniques that
contribute to the investigation and proving of organized crime. The second part
of the article clarifies the appearance of the faces of the site, which are
clues, material evidence and crime patterns that are used in organized crime
investigations from the perspective of a Forensic Accountant. The legal
framework, domestic and foreign experience in the field of Forensic Accounting
complete the picture of the whole issue.
Finally, through numerous examples, analyzing case studies
from our and world practice, the concrete application of the skills and
knowledge of Forensic Accountants in the investigation process is presented,
which is the best way to create a quality knowledge base for future
investigations. An analytical account of the most famous cases in the world of
accounting research - such as the closure of the infamous Al Capone, the case
of Big Joey's arrest and the overthrow of the seventy-year tradition of the
Mafia Bonnano family, the British-Canadian fraudulent bond case, and numerous
other cases - gives a new dimension to the way cases are investigated.
Constant monitoring of the flow of money contributes to the
weakening of the financial potential of criminal groups and cuts the branches
of the large-spread canopy of organized crime, which, in conjunction with
corruption, threatens to endanger its environment and the entire economy of the
country.
