Three Strikes…You’re Out

At a Little League game, you usually think about bases being stolen, not cash. Unfortunately, the same volunteers selling hotdogs and cotton candy at the concession stand may also be taking advantage of their volunteer position and stealing. One woman recently pocketed more than $2,000.00 from the team’s concession stand.

Forensic Accounting vs Auditing

 

The field of accounting operates with many specializations, and forensic accounting and auditing are two of the most common. Although forensic accounting and auditing seem similar specialties, there are significant differences between the two job functions. Forensic accountants specifically search for fraudulent activity within organizations; auditors verify that companies comply with federal regulations and organization policies. Companies in need of accounting assistance must understand the difference between the two specialties.

Located in Aurora, Illinois, SDC CPA specializes in providing adjusters and attorneys global investigation and accounting services dedicated to crime, fidelity (employee dishonesty and employee theft), lack of faithful performance and commercial surety insurance claims. SDC CPA forensic auditors and accountants assist in legal processes and technical defense of a criminal, commercial, civil, administrative and judicial nature, through adversarial investigative applicability that includes knowledge and methodologies of Forensic Auditing, Forensic Accounting, Law, Theory of Evidence, Chain of Custody and Criminalistics, thus helping to promote the interests of the client.

SDC CPA - Protecting Your Business

Forensic accounting is a set of specialized accounting skills used to investigate innumerable accounting and financial matters for purposes related to legal proceedings. SDC CPA, a global investigation and forensic accounting company based in Aurora, Illinois, has its own team of forensic accountants.

Whether on a professional or personal level, sometimes things don't go as planned. This team of professional forensic accountants is on hand to help you through difficult times, providing you with ethical and detail-oriented investigative accounting services.

The Importance of Forensic Audit

Cases of economic fraud have multiplied in recent years. But the phenomenon of fraud is not something static and new modalities and methods of defrauding emerge every day, just as social habits and the environment as a whole change.

For this reason, it is necessary to adopt important security measures and fraud detection, which are capable of detecting and preventing almost any fraud, however complex it may be. One of these measures is the forensic audit. This is carried out especially in the field of public and private finance and is one of the types of audits that is primarily responsible for fraud investigation.

SDC CPA is an Aurora-based forensic accounting company that provides a complete range of forensic accounting solutions. Dee Studler and Krista Doyle founded the company in January 2001 for the express purpose of meeting the growing need for fraud investigation and forensic accounting by claim adjusters & attorneys.

The media and the dissemination of some judicial processes of national connotation, as well as the latest corruption scandals and others financial crimes have highlighted the importance of having technical evidence specialized financial institutions that complement the work of the authorities or defending. These specialized forensic financial techniques are known as forensic audit, which is different from traditional financial audit. A Forensic Auditory is generally performed by a team of professionals who require multidisciplinary work and specific techniques that guarantee obtaining, authenticity and custody of the evidence.

SDC CPA offers the services of highly-experienced investigating and forensic accounting experts who have a sharp eye for detail when it comes to investigating and analyzing specific accounting situations.

Topics in forensic auditing, forensic accounting, and techniques for detecting and fraud risk management, among others, have not yet been incorporated into the curricula of some of the public accounting programs accredited in the country, with sufficient dedication and emphasis. Currently, there are only two specialization programs in these subjects and some courses or graduates from other university institutions.

What is a forensic audit?

Forensic audit is a technique that aims at criminal investigation, integrated in the field of accounting, legal-procedural knowledge and focused on financial and business skills.

The forensic audit, after its investigation and analysis, will express a series of opinions and certain and objective information, which will serve as evidence in the face of legal proceedings.

This type of audit carries with it a large and complex team of professionals, among which we can find: auditors, computer scientists, lawyers, accountants, graphotechnicians, etc. This team will be variable and will be made up according to the type of company audited, its activity, dimensions, employees, type of operations and other important elements to take into account. For example, if the company to which the forensic audit is to be carried out belongs to the environmental sector, it will be necessary to bring forestry professionals.

SDC CPA always delivers high-quality services that you won't find elsewhere. Get high-quality financial services from an ISO certified organization that follows accurate forensic audit procedures.

What qualifications do forensic accountants have?

A specialist in Accounting and Financial Analysis analyzes the accounting information of companies, to investigate possible fraudulent or illegal situations, facing a judicial process.

A Forensic Accounting Expert can also quantify the damages within the case that gave rise to the litigation (situations of fraud or embezzlement, commercial disputes, etc.).

Analysis of financial and tax issues by a Forensic Accounting Analysis expert can be invaluable in a wide variety of cases. These specialists may have experience and knowledge as accountants and have worked in sectors such as banking, insurance, taxes, audits, bonds, valuations and appraisals, mergers and acquisitions, etc. among other possible areas of the financial area.

Most forensic accountants have a bachelor's degree in accounting or a related field. Generally, they have at least one of the following designations: Certified Forensic Accountant (CFA), Certified Public Accountant (CA), Certified Public Accountant (CPA), Certified Management Accountant (CMA), Certified Fraud Examiner (CFE), Certified Value Analyst (CVA), Financial Forensic Certificate (CFF), Investigative Accountant (CFA), acronym in English).

Forensic Accounting and Its Role in Financial Investigations

Changes in society's expectations, technical and technological advances, as well as a series of accounting scandals of legal entities from almost all branches of the economy, have created new and more rigid laws to avoid repeating them.

In the current increasingly complex business environment, there is a great demand for people who know other areas besides auditing, accounting and financial reporting, including knowledge of legal laws and legislations, actuarial, software tools, and even personality psychology. Given the fact that forensic accounting is an interdisciplinary field, it has been placed in the "front lines of crusades" against financial fraud.

The word forensic, comes from the Latin adjective “forensic”, which points to the one in the square. In ancient Rome, a forum or square represented the place where various commercial affairs were carried out, debates, and often trials where a person charged with a criminal act had to appear before a group of individuals in the forum and, together with the person who accuses him or her, answer questions about the charge.

Although forensic accounting involves performing a wide range of tasks, it can be divided into two broad sub-areas: investigative accounting and judicial support. Investigative accounting may include crime-screening and independent forensic audits, while court support relates to consultancy, expert and other services.

With the increase in the number of laws and regulations, their frequent changes, together with the increase and complexity of criminal activities in legal entities, there is a need for further development of the discipline of forensic accounting as well as forensic audit. SDC CPA, as global forensic accounting and investigation company, provides high quality services and consistent product concept to its clients.

SDC CPA is different from other forensic accounting firms. This is because, catastrophic events like tax seasons and hurricanes do not affect its focus on crime insurance. This forensic accounting firm has a broad background and experience and it has become a leader in providing crime and fidelity investigation.

SDC CPA is a multinational company, with employees from different nations, such as French, Afrikaans, Chinese, Dutch, German, Hebrew, Italian, Portuguese, and Spanish. It supports multicultural employment to cater to client’s multiple language & cultural needs.