Being cheated of one’s hard earned money can cause the victim to become enraged. Sure, the concerned person can take a legal recourse in order to punish the offender but finding the liable individuals not an easy task. It requires special knowledge and training. Financial frauds are not committed on individuals all the time either. There are many organizations and institutions that are cheated regularly due to falsifying of data. Simply being suspicious is not enough though. One needs to be cautious and take the right steps to prove the existence of fraudulent activities. The best way to ensure this would be to hire a quality forensic CPA in Santa Rosa and San Francisco CA so that both detection of illegal activities as well as prevention of the same can be done without any trouble.
A CPA specializing in forensic accounting is responsible for uncovering a number of facts and bringing them to light. From individuals to business entities, institutions and even nonprofit organizations, the professionals are much in demand today for the diverse role they play.
Responsibilities of forensic CPA
· Investigation of Financial Frauds- The professional questions the suspect s well as the other employees of the organization closely in order to discover the truth. Creating a detailed report underlying the circumstances and the facts that have been uncovered are drawn up for the client and can also be used in a court of law.
· Detection of Fraud- A professional who is certified will also have the right credentials and experience to discover anomalies and falsifying of accounts. The client as well as the management of the concerned company can prevent such activities from happening in the future courtesy the services of a top forensic accountant. The advancement of technology has also made it easy to commit a white collar crime and hide it effectively. However, a superior CPA & forensic accountant will be able to detect the fraud and advice the clients about how to have controls in place so that such crimes do not cause the company to lose money regularly.
· M & A- The team of auditors are usually called upon to examine the financial records of a company that is contemplating a merger or acquisition. A forensic accountant can prove to be valuable by finding out the facts pertaining to both the buyer as well as the purchaser. The reports are likely to include erroneous earnings, debts, inflated value along with legal actions that may have been taken against the company in the past. It is essential for the buyer to be fully aware of the facts before proceeding with the transaction.
· Insurance Claims- The insurance carriers are usually suspicious about the claims made by their customers. It is not without a cause though for financial accountant can help them find out the truth about the actual value of the insured property or assets damaged. On the other hand, the professional can also help the claimants to approach the insurance company armed with reports justifying their stand.
