Forensic Accounting Services

Forensic Accounting Services

Forensic accounting is the application of professional accounting methodology and techniques, auditing and investigative skills as well as principles to legal issues. It is frequently associated with white-collar crime, fraud, embezzlement, corruption and general abuse of financial resources. A forensic accountant is the most ideal person to carry out investigations in a financial set up

The "corporate failures in many countries in recent times," has led to the growing public awareness of the need for accounting and finance professionals that can detect corporate unethical behaviours. Now the need for investigative services within the accounting departments of such big companies needs to be dealt with. However, the regular person with a CA, CPA, ACCA or ACA will not have the skills that are required to investigate management. There has been such mismanagement, fraud, and unethical behaviour within these companies that the need for accounting "watchdogs" has become a big issue.

It is now necessary to analyze the underlying characteristics of corporate activities identifying corporate governance issues. A person must obtain the forensic accounting certification and body of knowledge in order to have the experience and knowledge to deal with such important issues.

Because of the widespread growth in white-collar crime, including both fraudulent financial reporting and misappropriation of asset schemes, and corruption also have important implications for forensic accountants.

Terrorist groups often rely on money laundering schemes to finance and disguise their activities. The increased use of computer technology in society, in general, and as a tool for conducting criminal activities, present new challenges to the forensic accountant, including fraud investigation. Now, because of such dealings in corporations, it is necessary to investigate underlying characteristics of corporate activities and make sure those who run such corporations keep up their dealings on the ethical sides of the line. In order to investigate corporate activities properly, one must have a forensic accounting and or fraud examination certification. It must, however, be noted that forensic accounting skills are advanced accounting skills which enables the holder to work as an ordinary accountant as well a financial detective. A chief Accountant, for instance, who is trained in forensic accounting, is twice better than the one with the ordinary accounting skills only. The forensic chief accountant can not only detect fraud and prevent it but can also carry out preliminary investigations before independent investigators are call in. How can a person who is not an accountant investigate an accountant? Organizations serious enough in the fight against fraud or corruption must have at least one or two forensic accountants in their internal audit and/ or finance departments.

Accountants look at the numbers. Forensic accountants look behind the numbers. If you want to know why your numbers don't match, you need a Certified Forensic Accountant (FCA) who specializes in forensic A-Z accounting and or the services of Forensic and Fraud Faculty of OGECOPS.

Services available at OGECOPS's Fraud and Forensic Faculty:

Fraud detection and prevention;
Bankruptcy and insolvency accounts preparation;
Tracing the proceeds of white-collar crime e.g. corruption or embezzlement or money laundering;
Forensic investigations e.g. Insurance claims fraud investigation and Bank fraud investigation;
Suspects interviewing and statement taking;

Expert witnessing;
Reconstruction of accounting records;
Analysis and simplification of financial evidence;
Resolution of business financial disputes; and
Internal organizational investigations.
Litigation Support

We also provide the following services:
Fraud prevention and detection services
In-house anti-fraud awareness training services