Forensic accounting work is done in anticipation of litigation and can include fraud, valuation, and other professional services. While fraud examinations generally refer to an actual theft, much forensic accounting work may be due to disputed valuations, not a specific theft. Forensic accounting doesn’t necessarily imply any illegal activity, while fraud does. In some cases, valuations may be disputed due to fraudulent financial statements. We can help you with valuations through Trinity Valuation and we have a CPA who also has the Certified in Financial Forensics (CFF) designation and is Accredited in Business Valuation (ABV) from the AICPA. Forensic accounting includes litigation support that may be needed.
The best way to prevent fraud is through sound internal controls and an ethical tone at the top. At BCS, we would rather help you establish sound internal controls to help prevent fraud, but realize that even in the best of situations, it can still occur. We have three Certified Fraud Examiners (CFE) that can help you identify where fraud has occurred and prepare reports that can be used to help bring a conviction, if needed.