For over 50 years forensic accountants have exist. In the most recent years the need for them has increase due to the creativity of white collar crime and the use of technology. Forensic accountants are specialists who work with financial information such as business records, bank statements, and tax returns for the purpose of finding valid data. This data is used to prepare their reports. The report is prepared in a manner that will be easily understood by the attorneys to use in research, negotiations or court proceedings. In the business world forensic accountants are used to help clarify and resolve a wide number of legal disputes, including shareholder disagreements, malpractice claims, insurance claims, business dissolutions,…show more content… When a forensic accountant start to prepare the initial approach of the investigation; they are looking for answers to the how, where, what, why and who. Investigation includes interviewing the parties involved. Gathering all of the information and preparing the written documents and graphs takes good writing and computer skills. These documents become the tools and relevant information the FA present in testimony to the judge and jury.
Describe the role of a forensic accountant within a courtroom environment.
As the subject expert matter, forensic accountants come to court to display the amount of damages (based on sufficient facts or data, not opinion) sustained by victims. They prepare visual aids such as graph, PowerPoint presentation, and written documents. They cannot just present a single document such as a financial schedule or tax return. They must be able to clarify the business transaction and explain the document.
In some cases, accountants may be retained as consultants to gather and interpret facts, prepare analyses, help the attorney interpret evidence and advice about issues and strategies in legal matters. It is important to remember that it is not the Forensic Accountants that determine fraud, but instead the court." (David Malamed, Forensic Accountant, Toronto Ontario.) The accountant’s testimony helps the jurors or judges understand the evidence or