A beginners’ guide to forensic accountancy and how it is used
Forensic accountancy is the process of using accountancy practices to trace fraud investigations. It looks at the underlying reasons behind business damages. For example: securities and tax fraud; money laundering; bankruptcy proceeds; and insolvency. In England and Wales, forensic accounting come under the Proceeds of Crime Act 2002.
Forensic accountants may be involved in recovering the proceeds of crime. They are involved in confiscation proceedings incidental to crime and money laundering. Other areas they look at are auditing and accounting standards. They also have a working knowledge of economic theories with extensive business information to hand.
In the UK, forensic accountants are qualified to CFA Professional Level (Certificated Forensic Accountant). Their practice may be specialist in nature or wide-ranging. For example, one forensic accountancy practice may specialise in taxation affairs or bankruptcy cases. Another practice could focus on various areas though service individual clients ahead of businesses.
Where we come in
We at Forensic Assessment assist in numerous cases where financial disputes affect our defendant. If you have any further queries, why not give us a call on 024 7657 8344? Your calls will be monitored for training purposes and taken in the strictest of confidence.
Forensic Assessment, 04 February 2017.