It is not enough to consult the law enforcement agencies when there is an act of crime committed. It is not surprising to note that almost all crimes include an unhealthy desire to obtain money immorally. The right individual to find out such facts o discover the risks of financial crimes happen to be professionals associated with forensic accounting in San Francisco and Santa Jose CA.
While certain accountants may work with insurance companies or audit firms, a few of them also have their own consultancies today. The professionals are well aware of digital tools that can be utilized to observe the trail of money that may have vanished suddenly. Forensic accounting and digital history of facts may also be used to clear suspicion when n employee of a company has been held guilty erroneously. A crime is not the only reason to get in touch with the highly specialized accountant though. There are multiple other reasons to do so with small, medium and even huge companies turning towards the professionals for achieving satisfaction in the following areas.
Reasons to hire a financial accountant
1. M&A- Expansion is a natural process for business enterprises that wish to grow continuously. Contemplating a merger with another company or acquiring a smaller competitor is considered to be fair practices. Financial clarity is desired on both sides with both the entities finding it necessary to engage a qualified forensic accountant for checking the financial records of the other. The instances of financial fraud come to light almost immediately that may alter the decision for good. Moreover, a company that is willing to be acquired may resent a rosy picture of its accounts that may have been exaggerated unduly. A due diligence conducted by the said professional provides the best answers so that the business owners become aware of the reality before investing heavily.
2. Contractual Disputes- People who sign a contract agree to abide by the terms & conditions included in the legal document. Unfortunately, many individuals try to conceal the facts by failing to pay the rightful share to their partners or stock holders. This results in disputes with legal professionals being called in. Financial accountants can help in such instances by checking the financial records and expenditure perfectly while going through the contract documents. The disputes may also arise between an employer and employee at times. A forensic accounting audit clarifies the issue leaving the concerned parties to sort out their problems either amicably or through legal means.
3. Insurance Claim- It is common for insurance companies to receive claim requests every single day. Sadly, many insured individuals as well as business entities think nothing about showing an inflated value of their property or exaggerate the damage and/or amount lost due to fraud or theft. It is the forensic accountant who steps in to pursue the investigation and reveal the facts thereby saving the insurance carrier from incurring a huge loss.
Legal wrangles over inheritance or embezzlement of funds may also require the expertise of a seasoned professional of financial forensics in San Francisco and Santa Rosa CA to discover the truth and bring it to light.
