Why would a company retain a forensic accountant?
There are generally two reasons: 1) A company knows they have problems with fraud and/or misconduct; or 2) They don’t know and are at risk of an ambush. A company could decide to be proactive and audit for fraud, stemming from concerns such as watching their copmpetitors suffer public humiliation stemming from incidents. Or, as often is the case, a company may have experienced their own allegations and must develope an action plan. That plan may not necessarily result in legal action. A company may decide to handle the matter internally by terminating an employee who is found to have committed the indescretion. Further, there may not be an adversarial situation, such as a company that needs assistance calculating a business interruption loss suffered from an act of nature. The latter example suggests that companys of all sizes can benefit from the services of forensic accountants. How do companies benefit from retaining forensic accountants? Simply put, forensic accountants save compan
