Forensic Accounting Obejective
Answers
Answer:
The main objective of forensic accounting is to find proof of a crime and to present it in a way that can stand up in a court of law. ... The prevention of crime is also crucial for auditors, who are hired to ensure your company's financial records are compliant with laws and regulations.
Explanation:
The main objectives of forensic accounting is to provide proof of a crime and present the evidence in such a way that it can stand up in court. It is used to find financial information and trends that could indicate fraudulent activity, often through examining voluminous records, witnesses, and even carrying out stakeouts in more extreme cases.
As well as identifying whether fraudulent activity has taken place, forensic accounting will also seek to name the person(s) involved, with a view to take legal action against them. The use of proper documentation is vital to achieving this, which must:
Prove the loss
Prove who is responsible for the loss
Prove the perpetrator’s motives and methods
Comprehensively establish guilt