9/10/19
Definitions – Forensic Accounting The forensic accountant or accounting comprises two distinctly different fields. • Forensic generally is defined as “belonging to the courts of justice.” • An accountant generally is identified as an “expert in the field of accounting.” • Accounting is described as a methodology for organizing, preserving, and reporting on business transactions.
Definitions – Forensic Audit While a regular audit focuses on errors, omissions, assertions, and misstatements, a forensic audit focuses on suspicious activity, exceptions, and irregularities.
Typical areas of focus include payables, payroll, profits, and revenues.
13
Made with FlippingBook Online document