Forensic accounting is usually required where there is litigation or possible fraud and embraces accounting, audit and investigative skills. Those skills can only be applied to the evidence available and its effectiveness can be significantly enhanced by embracing IT forensics, which can reveal more data than was originally available.
It is particularly valuable to the insolvency sector where Insolvency Practitioners are under an obligation to report upon the conduct of directors in relation to the insolvent company. Surprisingly, under current UK law, there is no active monitoring of the conduct of directors whilst a company is trading. In most cases, it is only when a company becomes insolvent that there is any scrutiny of the conduct of the directors. This places a burden on the highly regulated Insolvency Practitioner who is sometimes left with a duty and responsibility to investigate when they are no funds available to meet this obligation.
We offer an integrated approach from IT forensics through to accounting forensics. asset tracing and asset recovery in UK or abroad. If a higher level of investigation is needed or asset recovery in a hostile environment, we may be able to assist through our associate network; please contact us.