Fraud cases, particularly in the corporate world, require comprehensive investigations into the financials at stake. In the arena of fiduciary duty claims, where a fiduciary does not act in the best interests of the beneficiary, forensic accountants play a critical role in analyzing and determining economic damages and the correct parties at fault.
A fiduciary duty requires the principle to act in the best interest of the other party involved. It is expected that the fiduciary uses his or her best discretion and always acts with care, honesty and due diligence in managing the assets. HSNO’s forensic accountants assess if the assets have been properly managed and protected, as well as evaluate the overall conduct of the fiduciary’s handling of the assets.
During fiduciary duty claims, HSNO first conducts a discovery stage. We know what information to look for and the right people to interview to collect relevant and helpful data. Next, we combine our accounting and investigative skills to analyze all information and create detailed reports of our findings. Within this step, we trace assets by looking through financial statements and banking documents to determine if there was any asset misappropriation. After, we can serve as expert witnesses during depositions or trial.
The reports and final analyses provided by HSNO’s accountants play a key role in the outcome of fiduciary duty claims. Our ability to identify, investigate, analyze, test and interpret financial data is a significant value-add to parties involved in these cases. And because our firm is dedicated to the forensic field, we have ample experience managing a diverse caseload of litigation requiring forensic investigation. We tap into best practices daily to ensure our clients receive efficient and quality service, all while maintaining integrity within our field of work to deliver unbiased results.