Wednesday, June 19, 2013

How A Forensic Accountant Handles Embezzlement And Fraud Claims

By Lila Barry


If you are fond of watching crime solving shows, then you must be familiar with the term forensics. It is the method in which an expert can identify the cause of death of a person by way of close examination. On the other hand, a forensic accountant San Francisco deals with another kind of crime that closely involves money.

This profession is engaged with legal proceedings within a business or government setup. A needed act would be to provide testimony before a court and under oath. The gist of the revelation would have to deal with finances in particular, on whether a certain amount of money is lost or stolen and who the responsible party is.

Professionals who are in charge of tracing anomalies are known to have a scientific and systematic approach to their job. Otherwise, they would be reduced to a haphazard clutter that needs further guidance to get to the bottom of things. Should there be any admissible evidence, they must be absolute and accurate down to the last detail to be accounted for.

What accountants should gather are documents that will contain the needed information for the evidences. From payrolls and bank records, these papers should show the downright anomaly that was made to embezzle money. With the help of executive heads and attorneys, they can gain access with the necessary permits and go signals.

To say the least, these anomalies are referred to as white collar crimes in the industry. White collar because most of the embezzlement happens within the confines of large corporations and other high transacting businesses. With the amounts of money being handled everyday, there are those who result into fraudulent work to get more than their fair share of money.

The role of the accountant is to accomplish the investigative work involved with tracing past transactions. With a keen eye on detail and piecing things together, he or she is responsible for finding out the truth from the logical and systematic way of arriving at conclusions. They have to back this up with admissible evidence to ensure that no false account is also released to the public.

Their scope of work also involves insolvency issues by businesses and individuals. Given their background in mediation, they are bound to handle a dispute or two to ensure that both parties part ways amicably. The aim is to reconcile so that both can proceed to the deal and move on with an amenable parting.

Given all the data that the expert gathers, it is his or her responsibility to put things into proper perspective. During court hearings, the testimony should be spoken in a manner that is understandable to the judges and the audience. This must be done while maintaining the integrity of the job so as to eliminate any reason for doubt.

With this high profile case, it is only right to expect that the forensic accountant San Francisco works professionally on the field. After all, justice has to be served and the money should be taken back and returned to its rightful owner. In this way, the playing field is leveled once more and justice is claimed.




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