What is Forensic Accounting? The Roles and Techniques
With the wave of financial frauds and corporate scandals capturing attention, forensic accounting has arguably grown to become more significant than ever before. For businesses, investors, and legal practitioners alike, forensic accounting acts as an important avenue for revealing financial discrepancies, settling debates, and providing accountability. What is Forensic Accounting and what roles do forensic accountants do? What is forensic accounting? The accounting industry has several different branches, and while some remain broad, others are much more specialized. One such specialized field is forensic accounting. This particular type of accounting looks into financial documents to check whether or not fraudulent activities such as embezzlement, money laundering, or financial duping have taken place. It goes without saying that fraud detection is a skill that all businesses should cultivate. Accounting is not just about making sure that the books are balanced; ther...