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Forensic Auditing On The Rise: What you need to know

What is a Forensic Investigation and an Audit?What image does your mind conjure when thinking about the term “private investigator”? Like most people, you probably imagine a person peering through a camera lens laying in wait for their subject to do something unscrupulous. While this image is not an incorrect assumption, surveilling cheating spouses is just one of the many services private investigators offer. One of the services that private investigators provide that is gaining steam is forensic auditing.

What is forensic auditing?

Forensic auditing refers to the practice of examining and evaluating a firm’s or individual’s financial information for the purpose of discovering evidence of fraud, embezzlement or other financial claims.

Why is there a growing need for forensic auditing?

Thanks to advances in technology, today’s criminals are conducting even more sophisticated schemes to obtain and utilize your financial information. Because the techniques that these criminals use are far more advanced that ever before, it is nearly impossible to catch them unless you know exactly what to look for.

As fraud and other white collar crimes continue to rise, many businesses and individuals are turning to the expertise of private detectives. Private investigators who specialize in this specific type of investigation are often referred to as forensic auditors.

What exactly is a forensic auditor?
Equal parts private investigator and accountant, forensic auditors are skilled professionals with a thorough understanding of investigative and accounting principles.

What does a forensic auditor do?
Most commonly utilized in divorce proceedings, forensic auditors are often hired to find hidden assets, locate stolen funds and identify cases of fraud.

Not sure if a forensic auditor can help your case? Below we have identified just a few situations where hiring a forensic auditor may be useful.

  • You’re getting divorced and you have reason to believe your ex is hiding assets.
  • A parent or other relative has passed away, leaving you and a difficult sibling to sort out the finances.
  • You experienced a natural disaster like a fire and your hard-copy records have all been destroyed.
  • You suspect your business partner of theft.
  • Your company is being audited by the IRS and you need to be absolutely sure all your financial ducks are in a row.

If you’re considering hiring a forensic auditor, make sure that they’re the “real deal” and not just accountants who have tacked on a fancy title.

In our increasingly litigious society, it’s important to do business with professionals like the trained experts at BrightStar Investigations who can get you the results and information that you deserve.