What is Forensic Accounting?
Forensic accounting is the use of accounting, auditing, digital forensics and investigative skills to examine past financial transactions for a specific purpose.
The need for forensic accounting stretches into any situation where there’s a need for accounting knowledge, investigation skillsets and an understanding of potential fraud schemes or damage theory and calculation. We are often retained as consultants and/or experts in litigation involving the following matters:
- Financial disputes
- Fraud investigations
- White collar crime investigations
- Corporate investigations
- Lost profits
- Business interruption
- Lost wages
- Non-compete infringements
- Trade secret theft investigations
- Employee misconduct investigations
- Human Resources and/or security investigations
- Cybersecurity breach investigations
- Family law and divorce
Why Choose Eide Bailly for Your Forensic Accounting Needs
As forensic accountants, Eide Bailly uses accounting, auditing, digital forensics, and investigative skills to search through personal and/or business records to uncover the facts to find, document, and summarize financial data. We also look at financial damages from fraudulent behavior, a damaging event or a cybersecurity breach.
Our forensic accounting skills are often applied in litigation. We are regularly asked to testify as expert witnesses in the cases we work on. As forensic accountants, we are asked to quantify damages in a wide range of cases to help resolve disputes and assist parties in reaching settlements rather than going to court.