Forensic accounting provides an accounting analysis that is suitable to the court of law, which will form the basis for discussion and debate with the ultimate goal being dispute resolution.
Forensic accounting utilizes accounting, auditing and investigative skills when conducting a review. Equally important is accountant/auditor’s ability to respond to specific questions and to effectively communicate financial information clearly and concisely in a courtroom setting. Another important aspect of forensic accounting is the ability to “look beyond the numbers” and understand the bigger picture issue of the situation at hand. Unfortunately, the construction industry has a long history of projects that have ended up in dispute. As a result, these disputes often lead to legal proceedings, which may or may not end up in a court of law. In those instances where depositions take place in anticipation of a trial, Owners (and their attorneys) often rely on expert witnesses, who are trained in the specific area of dispute, to bolster their case. In the case of construction auditing, we believe expert witnesses should possess the same skill sets and attributes used by those who are trained in the field of forensic accounting and forensic auditing.