Firms of all sizes are interested in expanding their practices to include forensic accounting and fraud investigation. Experts agree: This practice area is growing and will continue to grow for the foreseeable future.
Yet adding forensic accounting to a firm’s portfolio of services might not be as easy as it sounds. While traditional audit staff might have a good foundational knowledge to branch out into fraud investigation, offering reliable service to clients in this area takes a little more work.
While the decision to provide forensic accounting services may seem simple, the next step is deciding specifically which services to provide. There are many types of matters that may fall under the forensic accounting umbrella, and it is important to develop an appropriate focus.
A firm’s services could be geared toward a variety of fraud-related matters, including corporate embezzlement, financial statement fraud, and insurance claims fraud. The business could alternately be focused on litigation matters like contract disputes, shareholder lawsuits, business valuation, and bankruptcy consulting. There are many more types of cases that could fall under one or both of these headings, so it’s clear that there are a great deal of choices to be made. Read More