Forensic audits are usually obtained when funds are misappropriated or other serious allegations are raised
A Forensic Audit can encompass a wide variety of engagements. This can range from tracing bank transfers from a company bank account to a personal account of an alleged fraudster, to investigating accounting irregularities.
A key aspect of conducting this type of investigation is ensuring that each transaction or allegation can be supported with source documentation. Source documentation can include invoices, correspondence, bank statements, receipts and other original material.
It’s important that all the potential evidence in relation to a transaction or area of interest is consolidated by the investigator and included in the forensic audit where possible.
Forensic Accountants are often asked to conduct this type of investigation by their clients.
The cost of such an engagement depends upon the number of transactions that require review. Most firms charge a per hour rate and provide an estimate of the total cost. Most firms will only be able to provide an estimate once they understand the size of the engagement.
Further Information
If you would like further information about using our forensic accounting services for a fraud, litigation, forensic audit or other forensic accounting matter, then please contact us for an obligation free discussion.
We provide our forensic accounting services to clients across Australia. Call now on 1800 454 622.
Recent News
- Ratepayers in New Zealand are calling in an independent firm of forensic auditors after they lost confidence in the work of the Auditor-General. The ratepayers do not understand why the councils debt has increase to more than $80 million.
- A WA Shire is understood to have initiated a forensic audit. Read more.