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Forensic Accounting 101: How We Approach Our Clients’ Needs

Forensic Accounting 101: How We Approach Our Clients’ Needs

From the outside, the accounting profession may appear somewhat monolithic. Even sophisticated business people may think of accountants primarily as the professionals who are responsible for accurately tallying financial information, whether to form part of shareholder reports or to support the work of tax advisors. Although business audits typically involve accountants who play a significant role in verifying the data that backs up major disclosures, not many assume accountants can have roles as investigators or as part of a litigation strategy. But these are precisely the roles filled by the forensic accountants at HSNO.

What do forensic accountants do?
As the term implies, forensic accountants focus their work on subjects that have a significant legal dimension. They often work on criminal cases involving financial crimes. But they also work on civil disputes, helping clients develop admissible evidence of their client’s claims and provide invaluable assistance in complex insurance disputes.

As investigators, forensic accountants help clients uncover evidence of wrongdoing. Such investigations may be internal to the client, such as when a company believes that one or more of its employees has been embezzling funds and needs an accountant’s expertise to uncover a well-hidden trail. They may also support managers in determining whether to sue a counterparty for breach of contract. In fact, forensic accountants may also help clients, including criminal investigators, find evidence of criminal fraud or cyber fraud.

While supporting a client’s litigation efforts, a forensic accountant’s expert testimony often provides the crucial evidentiary foundation for a client’s economic damages claims. Another role that’s required is that of Expert Witness who, after conducting investigatory work, will then testify about the details their work uncovered. Such testimony not only goes to facts, but helps courts come to grips with why those facts matter.

What sets HSNO apart from other forensic accounting firms?
Whether brought in to investigate a matter before formal legal proceedings begin or to assist attorneys after lawsuits have started flying, one focus area for HSNO may involve developing evidence and testimony that will withstand attacks from the other side. We do this by applying rigorous, broadly accepted standards and using disciplined approaches at every phase of the engagement.

One of the key factors that differentiates HSNO from other forensic accounting firms is our approach to clients. Unlike firms where the partners rarely do more than glance at a client’s files, our partners are involved in the day-to-day work alongside their team members. This personal approach brings our partners’ rich experience to bear on every case. We also go the extra mile to ensure that we deliver analysis that is rigorous and complete. If that means sending our teams into disaster zones, we will do it without the least hesitation. In fact, it’s a big part of what we do.

HSNO is proud of its reputation as a leading forensic accounting firm. Our team has deep experience in all aspects of forensic accounting work. If your company is facing complex financial questions that call for dedicated, professional analysis, contact us today to find out how we can be of help.