There are many ways a professional private investigator can help the victims of a crime. One of the common types of crimes committed are those done by scammers and fraudulent activity. According to the Global Fraud and Identity Report as of 2018, 33% of all businesses are victims of fraud, leading to major financial losses. For businesses that are victims of fraudulent related crimes, they can seek help. Private investigators often provide “forensic accounting investigations,” which help locate the source of the crime and prevent future losses for the business. Advance Private Investigators & Security of Miami, FL will share more about forensic accounting investigations.
Forensic Accounting Investigation Definition
Forensic accounting investigations is when data is examined to determine the source of where the company’s money has gone missing. In many cases, following the money will help locate the criminal(s) that is stealing the money. Not only can forensic accounting investigations help locate the criminal, it can possibly recover the stolen money. When a business is a victim of a crime, often it falls on the business owner to find the answers. If the bread crumbs lead to a specific person and the business owner wishes to take them to court, it is important to be able to present evidence. A private investigator that did the forensic accounting investigation can also be used as a witness and share their findings.
Forensic Accounting for Fraud
A forensic accounting investigation often provides services for public accounting and or consulting firms, lawyer firms, law enforcement agencies, insurance companies, and businesses. Depending on the situation or need for professional forensic accounting investigations, the roles can change. For law enforcement agencies or law firms, we find that most cases center around fraud. Other entities such as insurance companies and even other businesses will have a number of insurance fraud cases.
How to Conduct a Forensic Accounting Investigation
The first step of a forensic accounting investigation, an investigator will begin looking for and collect all evidence when there is suspicion of fraud. A forensic accounting investigator will ask for any current evidence you may have to get the investigation started. Next, the investigator will interview staff and look into the accounting data for any red flags. As an investigator gathers information concerning the case, they will form a report. The next step in an investigation is to provide the client with a constant report of the evidence collected and where the trail is leading during the investigation. Once enough evidence is gathered, the last step is litigation. Once all of the witnesses and evidence has been gathered in the investigation, the case will proceed to court. With the potential offenders notified, and the case moving forward to court, the business or individual can take back control and no longer be a victim.
Private Investigator & Security Services in Greater Miami, Sunny Isles, Fort Lauderdale, Boca Raton, Weston, Plantation City & Miami Gardens Florida
With all of the evidence in hand, witnesses, and reports from a professional private investigator, you can bring to justice those who committed a crime at your company’s expense. A forensic accounting investigation is a very common service that helps victims of fraud. For those who have been or are a victim of financial fraud and need forensic accounting investigation services, contact Advance Private Investigators & Security of Miami, FL today.
