Forensic Accounting refers to developing evidence for use in a court of law for improprieties within an accounting system.  This type of service requires a significant investment of time and attention to detail.  Unlike other organizations, we participate in drafting legal motions and have significant experience in applying facts to the appropriate legal standard.  We have worked on both the sides of a matter for the plaintiff and the defendant. 

Fraud Auditing refers to employing procedures designed to prevent and detect fraud.  Fraud auditing for prevention purposes tries to advertise that an organization takes it policies, procedures and internal controls seriously enough that it will test those standards.  Fraud auditing for detection purposes usually comes about because an organization suspects fraudulent activity.  Auditing for detection purposes is really about mitigating losses.  At some point a fraud audit could turn into a forensic exam, but in our experience, an entity normally prefers to keep its system weaknesses quiet, so a fraud audit for detection purposes usually requires discretion. 

An Asset-Based / due diligence exams usually entail performing agreed-upon procedures to test the existence, accuracy and ownership assertions for specific line items of an entity's financial statement.  Banks and other financial institutions use the exams for monitoring purposes and to ensure no major issues with customers or potential customers.  Our firm has also performed due diligence exams for several organizations just to ensure employees followed policies and procedures, but did not want to engage in a continuing program to deter fraud.

We have helped turnaround several distressed business.  Generally, our strategy is to have people on site for a few weeks to assess a business's operations and make decisions that comport within the frame work of existing infrastructure to help turn an entity around.