Forensic Accounting Services

Forensic Accounting Services

Is accounting fraud making you worry and shifting your focus from core operations of your business? As per a research conducted in 2016, 4 out of every 5 companies that were adversely affected by embezzlement, had an employee strength of less than 100.

In the current dynamic business environment, there is a vast area that covers a lot of complications, especially in the space of accounting and finance. Facts and suspicion play a major role in identifying the truth. The simple method to address this is to gather evidence to differentiate the truth from doubt. This is where the need for forensic accountants arises. They can investigate the suspicious areas and collect appropriate evidence to remove any confusion and suspicion from real facts.

Forensic engagements of a financial nature may be divided in the some of the following categories:

  • Calculation of economic damages as a result of a contract breach
  • Dealing with disputes post acquisition, like earnouts, warranty breaches, etc.
  • Cases of reorganization, bankruptcy, or insolvency
  • Fraud related to securities, tax, laundering of money
  • Business valuation and revaluation
  • E-discovery or computer forensics
  • Corporate or company-specific investigation
  • Investigation on compliance with anti-corruption measures
  • Usage of forensic technology
  • Due diligence
  • Disputes related to financial reporting
  • Prevention of fraud and dealing with false claims Act

Accounting Fraud Detection Services

Flatworld Solutions offers the services of highly experienced investigating and forensic accounting experts who have a sharp eye to investigate and analyze a given situation. We have been providing forensic accounting services to almost all types of companies, such as financial organizations, law firms, government institutions, insurance companies, equity firms, corporate counsel, venture capitalists, top management of companies, etc. Our team comprises investigation professionals, data mining and forensic experts, examiners of fraud and fraudulent activities, interviewers of witnesses and testifiers, CPAs, and professionals who are good at collecting and documenting evidence and facts.

We offer forensic accounting services in the following areas:

  1. Investigation related to regulatory compliance

    • Frauds done by financial institutions
    • Frauds carried out in the healthcare domain
    • Investigations of concerns raised by whistleblowers
    • Investigations related to SEC, USA PATRIOT Act, DOJ, USA PATRIOT Act, etc.
    • Defense of white collars
  2. Investigation related to bankruptcy

    • Areas related to fraud of bankruptcy
    • Conveyance actions that are fraudulent
    • Payments that are preferential
  3. Investigation related to expert testimony and litigation support

    • Areas related to purchase price disputes post acquisition, working capital, billing and earn-out
    • Instances of breach of fiduciary duty
    • Areas of director and officer liability
    • Disputes of insurance coverage / interruptions in business
    • Areas of securities and litigation of shareholders
  4. Additional investigation services

    • Due diligence and investigating background
    • Computer forensics and data mining
    • Management fees and transactions of related parties
    • Tracing misappropriated assets, and financial embezzlement
    • Cases of misrepresentation of financial statements, and any other financial fraud
    • Claims of fidelity
    • Areas related to construction

Different Types of Fraud Investigations

It can be difficult to easily detect fraud or fraudulent activities. There are multiple interpretations and meanings of the word "fraud" and it relates to several different types of investigations and allegations.

Types of Fraud

  • Employee fraud - Any fraud or fraudulent activity that is related to embezzlement through employment or thefts, constitutes employee fraud
  • Financial fraud - Any fraud or fraudulent activity that is carried out to misrepresent facts with respect to the position of a company in the market, or its financial statements that are publicly available, constitutes financial fraud
  • Bank fraud - This type of fraud refers to any fraudulent activity wherein customers defraud financial institutions in several different ways
  • Fiduciary fraud - When a person is involved in theft or embezzlement, in relation to assets that belong to others, resulting in a breach of trust, it is construed as fiduciary fraud

Alleged Fraud versus Actual Fraud

A simple way to clearly demarcate an alleged fraud from an actual fraud is to remain objective during the investigation. Every scenario and explanation have to be investigated carefully to avoid situations of reaching the wrong conclusion for a case.

Whether you are challenged by complexities in accounting or issues related to regulatory compliance and auditing, we can help you address them easily.

We help many companies in the US and other geographic locations successfully respond to allegations that they may have received, which are related to regulatory compliance, fraud, fraudulent activities, the impropriety of accounting and financial reporting, and other similar areas.

Our experts are well-versed in addressing several types of non-compliance issues in the space of accounting and financial services. Not only do we quickly resolve existing issues with our forensic accounting services, with minimum business disruption, we also recommend measures to be taken by the company to avoid a similar situation in the future.

Outsource Accounting Fraud Examination Services to Flatworld Solutions

Flatworld Solutions is a leading finance and accounting company in India, and our professionals have extensive experience in conducting fraud investigations. They have delivered investigation services of the following type to many companies across the globe:

  • Cases of embezzlement and employee thefts
  • Issues related to lending to customers by financial institutions
  • Instances of issues related to cash management and billing in medical and dental companies
  • Civil cases of misappropriation or misuse of partner's funds
  • Probing cases of fiduciary's use or misuse of funds
  • Areas of dissolution of a marriage - dealing with spouse's use of property and/or disclosure of funds available

We have one of the most experienced forensic teams which follow successful and proven forensic accounting investigation practices, across the world. Our clients have lauded us for providing exceptionally good services by following accurate forensic audit procedures. Our team comprises highly senior and experienced practitioners in fraud investigation, anti-corruption, forensic technology and other related domains.

Technical support is of immense importance in the case of forensic accounting and fraud investigation. We leverage forensic computing and technological expertise to provide high-quality services to our clients. This also includes capture of electronic data that may be required for investigation, and later produced in a court of law. To make sure that frauds do not take place again, our specialists have developed prevention measures for fraud and corruption, which we have implemented for several of our global clients. These measures prevent companies and businesses from the threat of accounting fraud.

Contact us if you have questions on how to conduct forensic accounting and successful investigation processes to avoid instances of fraud. Outsource forensic accounting and fraud examination services to Flatworld Solutions.

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