What is Forensic Accounting And When Is It Conducted?

[Good-Person]

We know that crimes are quite common in many places and these crimes involve money as well. Forensic accounting is branch of financial accounting that deals with such kind of cases and issues involving any kind of crime. So, what is it according to you?

 

[Ernestnari]

Forensic accounting are mostly used when fraud is suspected. It is a kind of investigation that uses accounting procedures like auditing to uncover suspected financial crimes. In forensic accounting, like every other investigation, patterns are drawn and analysis are conducted to have inference.

 

[Nomad]

Forensic accounting comes in play when there are any financial issues in the company especially with embezzlement of funds. However, this is common in big businesses compared to the small businesses.

 

[Planbizzle]

Forensic accounting is frequently used in instances when there is suspicion of criminal activity or disagreements over financial issues, such as during legal proceedings or when looking into claims of fraud or improper company practices.

 

[Good-Person]

Forensic accounting is frequently used in instances when there is suspicion of criminal activity or disagreements over financial issues, such as during legal proceedings or when looking into claims of fraud or improper company practices.

I think that financial accounting is one of the best methods that are used to investigate crimes like money laundering, as such kind of crimes are increasing a lot.