What is Forensic Accounting?
Forensic accounting services generally involve the application of specialized knowledge and investigative skills possessed by CPAs to collect, analyze and evaluate data and evidential matter. Forensic accounting services utilize the CPA’s specialized accounting, auditing, economic, tax, fraud detection and other skills to perform various types of investigations, and to communicate findings in a courtroom or administrative setting. Forensic accounting services include litigation support, bankruptcy support, fraud and special investigations, dispute resolution, among many other services.
BMG is a valuable resource for lawyers, public and private companies, management, and other professionals for forensic accounting services. Some of the services offered by BMG include:
- Fraud Investigations
- Business/Partnership Accountings and Dispute Resolution
- Criminal Investigations
- Funds Tracings/Accounting for Assets
- Lost Profits Calculations
- Mediation/Arbitration Assistance
One of BMG’s specialized practice areas in forensic accounting is fraud investigations. Cases involving management fraud, money laundering, tax fraud, bankruptcy fraud, financial statement fraud and misappropriation of assets continue to be prevalent and are increasing in frequency. BMG’s qualified and experienced CPAs can assist in the detection of fraud, as well as in qualifying losses due to fraud. We can also provide valuable assistance in management’s efforts to mitigate fraud by assessing the risk of fraud, evaluating the adequacy of internal control systems, and designing/implementing internal control procedures.
BMG offers litigation support in conjunction with our forensic accounting services—both as consultants and as experts for legal counsel. We assist both plaintiff and defense attorneys at all stages of the legal process from pretrial to resolution. Our experienced staff can provide valuable assistance during the litigation process, including:
- Discovery Assistance
- Preparation of Demonstrative Aids
- Timelines and Evidence Summaries
- Document Management
- Expert Witness Testimony
- Opposing Expert Opinion Analysis
- Damage Calculations
- Settlement Strategies
- Alternative Dispute Resolution Assistance