Forensic Audit Services
One of the branches or specializations in the Accounting world is Forensic Audit Services. The work of a Forensic Audit Services is to use their skills and knowledge for disputes and cases that require investigations. Forensic Auditor combines their accounting, auditing and investigative skills to uncover information regarding financial irregularities, fraudulent activities and commercial negligence. The term “forensic” applies in this case as it means “suitable for use in court”, therefore for its close relationship with the legislative processes.
Forensic Audit Services can be employed by specialized accounting companies, government agencies and even companies that seek to prevent financial scandals and improve their reputation. Other places where Forensic Auditor can find jobs are banks, police forces and insurance companies.
The activity of the Forensic Audit Services is usually carried out by an independent professional outside the company, who must have experience in the investigative field.
Here is a partial list of some of the most common tasks for a Forensic Audit Services.
Examine the company’s accounting and financial data:
analyze the company’s resources and burdens;
ensure that the financial documentation is accurate and detailed.
Document financial reports:
review customer accounts books;
analyze profits and expenses;
perform reports on the financial situation of customers.
Manage financial reports and budgets.
Perform financial reviews, collect and verify information.
Analyze the data:
review accounting books;
identify important information.
Perform investigative activities:
trace the origin of the funds;
identify the activities;
Writing forensic reports to be used in court:
prepare analytical data;
analyze profits and expenses;
present the results of their investigations in court, as evidence.
Preventing possible fraud cases by checking the company’s balance sheet.
Present yourself in court.
Collect and analyze financial data.
Perform reviews and interviews to collect data.
Find discrepancies in the data.
Run reporting documentation based on verified data.
Prepare evidence to be presented in court.
Provide testimonials in court.
Skills and Qualifications Required
Excellent communication skills:
communicate clearly, both in oral and written form, in order to interact effectively with customers and employers;
present the results of their investigations using the appropriate terminology;
write accurate and detailed reports and be able to explain them using a technical or simplified language, based on the interlocutor;
know how to work in a team.
Great attention to details:
analyze financial receipts and detailed information;
know how to analyze complex accounting books;
enter data in reports accurately.
Exceptional mathematical skills:
perform even very complex calculations.
Excellent organizational skills and time management:
know how to work on several cases at the same time, respecting deadlines.
Good analytical skills:
analyze revenue and expenses to identify any discrepancies;
have a methodical approach to analysis;
find ways to avoid fraud and misappropriation.
High levels of integrity and honesty:
manage sensitive and confidential information.