Thursday, 20 June 2013

How A Forensic Accountant Handles Embezzlement And Fraud Claims

By Lila Barry


Forensics is readily associated with crimes, more so with the number of television series shows centering on this premise. However, there is also what they call a forensic accountant San Francisco. This person does not deal with studying dead bodies, but the concept of the process is quite similar when getting to the bottom of things.

This profession is engaged with legal proceedings within a business or government setup. A needed act would be to provide testimony before a court and under oath. The gist of the revelation would have to deal with finances in particular, on whether a certain amount of money is lost or stolen and who the responsible party is.

Their method of searching for evidence must be done systematically. Without order, it would be hard for them to find a good starting point, let alone pore through the clutter and barriers, if any. Their conclusions must have solid proof that can be legally used to bring light to a case and make things right.

Certain documents must be secured to ensure that the evidence are seen in actual form. It could be anything certified like bank records, spreadsheets, log books and pay rolls, among others. Access to these information are permissible as long as the right procedure is followed and the permits are secured.

White collar crimes are rampant in the industry, and yet some are still to be uncovered. Accountants are big assets to cases because they have the legal expertise to unearth any form of embezzlement or fraud from tracing one clue after the other. They have the eye for this job, therefore rendering themselves useful when the going gets tough and losses are increasing in number.

Therefore, the accountant does the nitty gritty job of starting from step one and following context clues to get to the answers. Ideally, they should be able to tell the extent of the fraud made and by whom. This evidence should be admissible in court so that they can proceed to nailing their job well and stopping crimes from happening further.

On the other hand, they might also delve into bankruptcy filings to help out business owners or individuals. Their role is to ensure that all the legalities are followed. If there are any disputes in the contract, they are tasked to mediate for immediate reconciliation of interests.

Given all the data that the expert gathers, it is his or her responsibility to put things into proper perspective. During court hearings, the testimony should be spoken in a manner that is understandable to the judges and the audience. This must be done while maintaining the integrity of the job so as to eliminate any reason for doubt.

When money is thrown in the equation, you would expect a lot of issues involving the taking over of power to profit from it. All these embezzlement and fraud claims vary in monetary range, sometimes even bordering ridiculous for the amount of losses. It is therefore the job of the forensic accountant San Francisco to shed light to the mystery and make the key perpetrator pay for his or her crimes.




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