Forensic Accounting

Insolvency Advisory Accountants provides a range of forensic accounting services for individuals and businesses across Australia.  Our forensic accountants can investigate financial crimes or quantify the financial loss experienced by either you or your company.

Forensic accounting or financial forensics is the specialty practice area of accountancy that describes engagements that result from actual or anticipated disputes or litigation. “Forensic” means “suitable for use in a court of law”, and it is to that standard and potential outcome that forensic accountants generally have to work.

Forensic accountants, also referred to as forensic auditors or investigative auditors, often have to give expert evidence at the eventual trial.  Our forensic accountants may be able to assist you investigate matters such as insurance claims, personal injury claims, fraud, construction, or royalty audits.  Call the number below to arrange a free consultation with one of our team members to discuss your situation.  Continue reading for more information about what a forensic accountant does.

Financial forensic engagements may fall into several categories. For examples:

  • Economic damages calculations, whether suffered through tort or breach of contract
  • Post-acquisition disputes such as earnouts or breaches of warranties
  • Bankruptcy, insolvency, and re-organisation
  • Securities fraud
  • Business valuation
  • Computer forensics/e-discovery

Forensic accountants often assist in professional negligence claims where they are assessing and commenting on the work of other professionals. Forensic accountants are also engaged in marital and family law for analysing lifestyle for spousal support purposes, determining the income available for child support and equitable distribution.

Engagements relating to criminal matters typically arise in the aftermath of fraud. They frequently involve the assessment of accounting systems and accounts presentation – in essence assessing if the numbers reflect reality.

Some forensic accountants specialise in forensic analytics which is the procurement and analysis of electronic data to reconstruct, detect, or otherwise support a claim of financial fraud. The main steps in forensic analytics are (a) data collection, (b) data preparation, (c) data analysis, and (d) reporting. For example, forensic analytics may be used to review an employee’s purchasing card activity to assess whether any of the purchases were diverted or divertible for personal use.

Call 1300 844 350 to arrange a free consultation with a forensic accountant