In this short video, Tracy talks about some of the services a forensic accountant could provide in a bankruptcy case. These services could include: Tracing of funds through bank accounts Looking for hidden income and assets Evaluating expenditures to determine whether they were proper (as it relates to the bankruptcy) …
Why specialize when you’re a forensic accountant? Forensic accounting is already a specialty within the broader field of accounting, so some people never consider that you can narrow down your practice even more. We focus on investigating numbers, but that doesn’t mean we have to do every sort of investigation …
Lately I’ve been thinking about professional certifications. A financial expert on the opposite side of a case came to the table with 10 certifications listed on his curriculum vitae (CV). And I had to wonder what was the purpose of that? There was lots of overlap. Three of the certifications …
How does a fraud investigator know when enough investigation has been done on a case? If a scope of work was agreed upon with the client, the investigator should finish that work in order to meet her or his obligations. However, there could come a point in the investigation when …
How do I come up with a fixed fee for a forensic accounting engagement? I’ve been doing fixed fees for almost 23 years, so I’ve developed a pretty good formula. With a fixed fee, a client is paying for a result, rather than buying my time. In most of my …
Forensic accountants are often retained in litigation as expert witnesses, with the intention that they will provide expert opinions and testimony on behalf of the client. Although retention as a consultant is less common, it is an important option to consider. Sometimes, the work of the consultant can be even …
What kinds of things can forensic accountants be involved in relative to construction fraud? A common area of fraud involves a general contractor using funds from a project to fund other projects. Also common is the construction company claiming a project is further along than it really is in order …
It’s important to think about why your clients work with you. It can guide your marketing efforts and it can help you refine your service offerings. My clients like the fact that what they see is what they get. I’m the forensic accountant who will do all the work on …
What questions do you ask a new potential client? Nearly all of my work comes from attorneys, on behalf of their clients. I have two clients: the attorney and his/her client. My questions are pretty much the same no matter which of them I’m talking to on that first phone …
Making complex transactions easy to understand is no small task, but it is part of the job of any good fraud investigator. You can find the most earth-shattering proof of fraud, but if you cannot articulate your findings in a report that others can understand, your investigation results are not …
