Posted by Tristan Dixon.
Forensic accountants play a very important role in litigation by using their skills of extensive financial expertise with investigation skills to be able to serve as an expert on a specific case. Due to the lack of knowledge judges, juries, and sometimes attorney’s sometimes don’t have in financial knowledge its amazing to have a forensic accountant serve as an expert when needed to be able to breakdown complex financial situations and break it down into clear English for others who are not in that field understand. The role is more than just analysis, there are usually very detailed reports that are created, testimony for the explanation of financial issues and support to back up any conclusions drawn from the research.
These experts greatly strengthen legal strategies across different cases, including corporate disagreements, personal injury claims, and etc. By tracing financial activity and explaining economic impacts forensic accountants help either side to try and explain all financial matters in the case and clear as possible. They assist attorneys in discovery, deposition questions, and trial prep with all that being said that further assists what I had addressed before with the forensic accountant explaining the financials of the situation to help also come to an outcome in a trial.
Going past the courtroom the forensic accountant supports law enforcement, mediation by providing unbiased financial analysis. The ability to provide unbiased financial information makes them even more vital and enhances creditability to make sure both parties feel what is taking place is fair, Sometimes the analysis even can lead to settlements happening before trial. Overall the article is getting the point across of the importance of forensic accountants through the legal process in totality combining financial expertise with justice.
Tristan is a graduate student in accounting at the Feliciano School of Business, Montclair State University.
https://www.cpabr.com/article-analysis-testimony-forensic-accountant