There are many types of professionals utilized by lawyers to enable them to perform their jobs efficiently, accurately and successfully. One of those, which many are unaware exist, is a Forensic Accountant. Forensic Accountants are not the atypical “accountant” or CPA, i.e. who you take your personal taxes to, or look to for guidance when buying or selling a business- their work is far more complex.
Simply, each and every financial transaction made in today’s modern society leaves a trail. Forensic accountants are trained professionals that know how to follow this “money trail” in order to uncover and recover financial assets, wherever they may be retained- and in many cases, hidden. The practice focuses on the discovery, analysis and presentation of the evidence of economic transactions and reporting events, which is quite often necessary when an issue is being litigated and a financial argument needs to be decided in a court of law. Working on divorces, asset misappropriations, contract disputes, damage calculations, shareholder, trustee and executor disputes, financial statement fraud, criminal cases and a variety of corporate internal issues, forensic accountants are generally called upon to assist with a search for the facts and a truthful conclusion after some sort of devious or fraudulent activity- or the suspicion thereof- has taken place. Corporations, charities, and municipalities also engage forensic accountants to conduct proactive fraud risk assessments or to evaluate and bolster their internal controls, so they can prevent or deter fraudulent activity before it occurs.
Knowing the above, you may realize a forensic accountant could be able to help you in your legal matter. But is it worth it to hire one? A forensic accountant who is trained to investigate and solve complicated financial cases combines a depth of specialized expertise with a distinctive outsider perspective, and can expand the attorney’s capabilities and provide the resources and facts that support a successful case resolution. Leveraging the expertise of the right forensic accountant can help you achieve a more favorable outcome in your case.
The legal and accounting professionals at Glover Russell are experienced, skilled, and proud to offer in-house forensic accounting services. By offering this expertise to our clients, we tend to offer “more bang for the buck” than many other legal professionals, and while we work for individual and corporate clients, quite often we are retained by other law firms in the area who need the benefit of our services for their own clients, most often in divorce matters. Our team works closely with the client, and/or his or her counsel, to clearly define and establish the scope of the engagement and end-game goals in order to maximize the effectiveness of our work, and diligently endeavor to determine the facts. Please contact our office at 601.709.7000 if you have any questions about our forensic accounting services, or wish to discuss how we may best assist you.