Accounting is an important field of study in Sacramento, San Francisco, Mercer Island, San Mateo, San Jose, Menlo Park, CA, and the surrounding areas, and while most get into this field to help run and expand businesses, there is another area that involves reviewing those documents. Forensic accounting experts need to understand the various reports that are common to business and be able to spot irregularities. Our team at Sugarman & Company LLP can help provide that important independent analysis of your businesses activities to ensure that things are being done properly and assist with recovery of missing assets. We also work with legal teams to help determine if white collar crimes have been committed and how they were accomplished. And while the human factor still reigns with forensic accounting, changes are coming to the industry, and we are prepared for it. Contact us today to learn more about using our forensic accounting experts for your needs.
Big Data and Forensics
When it comes to forensic accounting, often times there are large amounts of data to be analyzed. This is why the use of AI has helped to increase the speed at which data is analyzed, and anomalies are found. This provides for faster decision making as well as fraud detection. And while many forensic accounting experts are used for legal cases, it is also true that businesses like to use them in order to evaluate their business processes and internal controls.
Increasingly, cybercrimes are being investigated by forensic accountants who utilize technology in their efforts to find abnormalities and uncover the tracks of criminals if they exist. Encrypted or deleted financial data is often discovered and must be decrypted or recovered to help flush out the full case of criminal activities if there are any. With computers becoming increasingly more sophisticated and their use is involved in most accounting issues, knowing more about this aspect of forensic accounting is highly important in this day and age.
Attention To Detail Is a Key Aspect
Putting together the full picture of what happened requires attention to detail, and this is a key aspect that forensic accounting experts need to possess. They are essentially working from the middle of a series of events, financially speaking, and they must trace where the money went, often in multiple directions. It can create a complex web of connections, but as long as those connections were legally made, then only the fraudulent or criminal aspects will be of concern. Al has many benefits though people should understand that it’s not 100% accurate , and can error rates of ten to twenty percent that’s where a forensic account can be a great benefit.
Whether your business in Sacramento, San Francisco, Mercer Island, San Mateo, San Jose, Menlo Park, CA, and the surrounding areas is being investigated, or you just want to ensure that your processes are being done properly, the help of a forensic accounting expert is just as valuable in each situation. Sugarman & Company LLP have decades of experience in dealing with forensic accounting projects. Contact us today to learn more and schedule a meeting with our forensic accounting experts.