What is Forensic Accounting?

Forensic accounting is a specialist area of accounting in which a practitioner uses accounting, auditing and investigative skills. Forensic accountants have extensive experience in the field and use their knowledge to methodically interpret complex financial information.

Forensic accountants perform multiple roles. They can be engaged to quantify damages in instances of fraud, loss and negligence. They can provide business valuations when required for legal or other purposes. They also work to resolve business and family disputes as well as provide general advice.

In cases where evidence relating to the finances of a business, organisation, individual or a couple will potentially be required for court, a forensic accountant should always be used. Lyonswood Investigations provides forensic accountant services which are complemented by our expertise in digital forensics, handwriting forensics, database searches and general investigations. Our accountant acts in line with the standards set by the Accounting Professional and Ethical Standards Board (APESB).

Corporate and Business Clients

In the course of the investigative process, it may be possible for a forensic accountant to uncover evidence of impropriety and / or identify the person responsible for untoward or illegal activity in an organisation. Regardless of whether there has been deliberate wrongdoing, a forensic accountant is skilled at determining the nature of the problem and ascertaining the full extent of any business loss that you may have experienced. This can be important when it comes to quantifying damages and seeking a financial remedy. Disciplinary proceedings against an employee, director or associate can be aided by the objective evidence uncovered by a forensic investigator.

Our experts look for irregularities in business practices and discrepancies in business records by analysing trends, tracing the flow of funds, interviewing relevant parties, analysing electronic data and evaluating the broader circumstances.

Where it is relevant to the proceedings, and otherwise admissible, forensic accountants can provide evidence for court and for the purposes of legal settlements. In certain circumstances, evidence uncovered by investigators can ultimately lead to criminal convictions.

Valuations

If you have a valuation dispute, Lyonswood can provide expert evidence regarding the value of a business. This valuation may be required as part of a settlement or a court may direct that a business be valued independently.

Whether the need to value the business arises from an alleged breach of contract, an insurance claim or some other event, Lyonswood’s experts can provide evidence that will be seen as objective. Our valuations are completed only after having had the chance to form a clear and comprehensive understanding of the subject business, so the interests of all parties will be considered.

Fraud

Lyonswood assists in identifying instances of fraud and corruption. For the proactive, it is possible in the course of a risk management evaluation to mitigate an organisation’s vulnerability to fraud before such criminality occurs. We assist organisations to implement internal controls and risk prevention strategies that work to minimise exposure to damage and loss.

Family law disputes

We are able to assist with family law disputes, including:

• Determining the value of assets including, business interests, shares and superannuation.
• Reviewing the accuracy of financial information.

Our Expert

Our expert is a CAPI master-licensed investigator specialising in factual investigations of commercial and workplace matters, particularly disciplinary and Code of Conduct matters.

As a Certified Fraud Examiner (CFE) and Certified Practising Accountant (CPA), he also specialises in forensic accounting investigations of financial malfeasance and fraud, He has particular experience in examining control weaknesses through the analysis of large transaction datasets.