Project On

Financial Statement Analysis

Topic:- Forensic Accounting

Prepared by: Souvick Mallick Roll-48

Forensic Accounting

The integration of accounting, auditing and investigative

skills yields the speciality known as Forensic Accounting.

“Forensic”, according to the Webster’s Dictionary means,

“Belonging to, used in or suitable to courts of judicature or
to public discussion and debate.”

Forensic Accounting provides an accounting analysis that

is suitable to the court which will form the basis for
discussion, debate and ultimately dispute resolution.

Forensic Accountants are trained to look beyond the

numbers and deal with the business reality of the situation.

Job Of A Forensic Accountant

A Forensic Accountant is often retained to analyze,

interpret, summarize and present complex financial and
business related issues in a manner which is both
understandable and properly supported.

A Forensic Accountant is often involved in the following:

 Investigating and analyzing financial evidence.

 Developing computerized applications to assist in the
analysis and presentation of financial evidence.
  Communicating their findings in the form of report,
exhibits and collections of documents; and
 Assisting in legal proceedings, including testifying in
court as an expert witness and preparing visual aids to
support trial evidence.

Who retains a Forensic Accountant

Forensic Accountants are often retained by the following

groups:

 Lawyers
 Police forces
 Insurance companies
 Government regulatory bodies and Agencies
 Banks
 Court
 Business Community

Assignments performed by Forensic

Accounting

 Criminal Investigations
 Shareholders and Partnership Disputes
 Personal injury claims/ Motor vehicle accidents
 Business interruption/Other types of insurance claims
 Business/Employee Fraud Investigations
 Matrimonial Disputes
 Business Economic losses
 Professional Negligence

Charectistics of a Forensic Accountant

A capable Forensic Accountant should have the

following characteristics:

 Curiosity
 Creativity
 Persistence
 Discretion
 Organisation
 Confidence
 Sound Professional Judgement

Conclusion

With the growing complexity of the business

environment and the growing number of business related
investigations, Forensic Accounting professionals are
increasingly asked to assist in the investigation of
financial and business related issues.