Understanding What Forensic Accounting Is
- By Admin
- •
- 02 Nov, 2016
- •
When many people hear the term forensics, their minds automatically conjure images of those television shows that feature a crime. However, when it comes to forensic accounting, there is a different kind of crime being told. Forensic accountancy is a growing field that many businesses need.
How Numbers Add up to Find Crimes
The term forensics itself means to use scientific methods to investigate a crime. In many cases, a forensic accountant digs in the accounts of businesses to uncover discrepancies. These discrepancies could be as small as mismanagement of funds to larger cases of fraud or embezzlement.
Types of Companies That Use This Service
One obvious employer of forensic accountants is the federal government. The Internal Revenue Service uses forensic accountants during audit periods for individuals and companies. In addition, other agencies such as the department of education and the Federal Trade Commission provide funds to various industries and these industries are held to strict accounting standards in order to maintain funding. Industries found in violation of allocation of funds are often uncovered by forensic accountants. Industries themselves can also employ forensic accountants to ensure that their accounts are accurate.
There are many types of accountants out there, and they all aren’t boring number crunchers as people might suspect. For more about the exciting world of forensic accountancy, call Quality Bookkeeping Services Inc. at 910-452-0480.
One vital aspect of a business that demands careful attention is payroll management. Learn why hiring a certified accountant can improve operations.
Turning to a full-service accounting firm to outsource key CFO responsibilities might just be the solution you're looking for. Read to learn more.
Turning to a full-service accounting firm to outsource key CFO responsibilities might just be the solution you're looking for. Read to learn more.
Many businesses might make mistakes when filing their tax returns. Learn about a few examples of mistakes and tips on how to avoid the mistakes.
Proper accounting and bookkeeping are vital to the survival of an online business. Read this blog to learn six tips that will make these things easier.
Rather than hiding from your bookkeeping be proactive with it in order to avoid problems. Learn why proper bookkeeping matters more than you thought.
For a small- or medium-sized business owner, taxes may be frustrating. Luckily, you can lower your tax burden. Learn how in this blog.
Every business needs one or more individuals who manage and guide its finances. Learn about the details of what each accounting role does.
Running a business requires a lot of work, and much of that work involves finances. Check out these three reasons you may need forensic financial services.
Errors in bookkeeping can have a large impact on your finances. Read on to learn five common errors and how to safely avoid them in the future.
