What is a Forensic Audit?

What is a Forensic Audit?

Moore Trinidad & Tobago

Picture your accountant turning into a detective. Literally. We're not kidding.

The MAIN objective of a forensic audit is to gather evidence that can be used to support legal action involving your Company as well as help your Company take preventative action against future fraud. Sounds simple enough right? Let's take a deeper dive here.

This specialised field requires expert knowledge of accounting and auditing procedures and is most often conducted in order to facilitate prosecution for fraud, embezzlement or other financial crimes. If there are suspicions regarding misappropriation of funds or financial fraud, a forensic audit is able to detect and unearth evidence as well as quantify the value of the financial loss. The auditor may even be called in as in expert witness in matters involving litigation!

Fraud isn't the only instance where a forensic audit may be ordered or suggested. For example, disputes related to bankruptcy, divorce or closure of a business may require a forensic audit.

For more information, you can contact us here info@moorett.com!