Forensic Accounting

File Pre-Engagement Research & Due Diligence Prior to accepting a forensic accounting engagement, the forensic accountant should perform pre-engagement research and due diligence regarding the proposed engagement. Due diligence refers to the care that a reasonable practitioner should take prior to committing to a forensic accounting engagement. The practitioner should ask key questions and review the proposed engagement carefully. The practitioner should also research the parties involved and the pending deadlines prior to engaging in a forensic accounting engagement. File Fraud: Not Just For Auditors Anymore An interactive discussion of fraud in the contemporary environment and its implications to all areas of the practice of public accountancy and CPAs' clients. The act of fraud is seldom observed. Symptoms and indicators of fraud are discoverable and observable. If symptoms of fraud are observed, many frauds can be detected at an early stage and either stopped or prevented. Fraud over time tends to grow larger and larger, so early detection is a preferable method to stop fraud. File Internet Resources for Forensic Engagements Course Description: Regardless of your need for information for forensic or valuation engagements, the internet is a valuable source of information if you know where to look. Join us as we explore the favorite and best sites for finding information related to forensic engagements. FVS Committee members will be encouraged to participate by sharing their favorite sites. File Avoiding Traps In Litigation Lawsuits are often won or lost due to the testimony of an expert. Opposing lawyers ask hard questions that may be misleading; this is to get the expert to respond in a fashion that is helpful for the opposing lawyer’s case. There are obviously many issues involved in litigation that need to be very carefully dealt with during the course of the engagement. Expert witnesses are engaged to provide opinions and are to tell the truth to the best of their knowledge. Yet, there are many traps to avoid in the litigation process because just telling the truth may not make an expert a good witness. Every seasoned expert needs help to avoid stating potentially damaging information in a poor light.