Forensic accounting is a division within the area of accountancy that employs accounting and financial services during investigations of fraud, differences, and mistrusted offenses.
The responsibility of a forensic accountant is to recognize and expose illegal financial practices in order to identify suspects and recuperate funds.
These kinds of investigations make the nature of this work a delicate one. Following the examination, the forensic accountant in Singapore is required to report to the management of the hiring company.
Many forensic accountants in Singapore are specialized in the division of fraud risk organization, where they work to decrease the probability of financial fraud. Depending on their job choice, several forensic accountants will need to deal with law enforcement specialists and lawyers and may even be demanded to act as professional witnesses in the court of law.
This branch of accounting deals with investigating financial crimes, such as:
• money laundering;
• tax fraud;
• economic damages calculation;
• securities fraud.
Financial investigations from our accountants in Singapore
Forensic accounting firms in Singapore assist in professional negligence rights, where they are evaluating and remarking on the work of other professionals. Forensic accountants are also involved in marital and family law. They can analyze the finances of a spouse and in this way help the plaintiff obtain spousal support and/or alimony and child support.
Forensic accountants, investigative accountants or professional accountants can also handle cases that involve recovering income from financial crimes.
Forensic accountants in Singapore have an understanding of economic theories, financial reporting systems, commercial information, evidence gathering and investigative techniques, accounting and reviewing values and techniques, data management & electronic discovery, data examination techniques for fraud detection and trial processes and procedures to complete their work
Our forensic accountants in Singapore work by performing the investigation and by supplying the reports, at the same type providing the needed answers to the clients during the investigation.
It is important to know that the forensic accounting firms in Singapore are constantly using technology to assist in the activities performed in order to identify anomalies and contradictions.
Forensic accounting services in Singapore
Here are a few types of forensic accounting services provided by our accountants in Singapore:
The use of specific investigative services for carrying out a review in such manner that the conclusion will have relevance in the court of law.
A forensic investigation may be performed in fields like medicine, engineering or some other discipline.
An investigation of evidence concerning a statement to define its correspondence to conventional standards also carried out in a manner suitable for usage as evidence in court.
An example would be a forensic audit of sales records to determine the quantum of rent due under a contractual agreement, which is the subject of a lawsuit.
An audit executed by an employee who inspects operative evidence in order to determine whether or not the agreed operating techniques have been followed.
An audit made performed by an auditor involved in community practice, who offers a specialized judgment and gives credibility to the statement under investigation.
For any information and assistance in this area, please contact our accountants in Singapore.