Forensic accounting can assist parties in Family Law Court proceedings to discover, itemise, and quantify assets and income sources. The work of the forensic accountant can ultimately allow for more fair and equitable financial settlements to be made through mediation or via judgment, and the more accurate calculation of spousal maintenance and/or child support liabilities.
What is forensic accounting?
Forensic accounting is a specialised area of accountancy practice involving investigative work and analysis to assist with actual or anticipated disputes or litigation. The term “forensic” means “suitable for use in a court of law”, which means the investigative accounting work must be done thoroughly and accurately. Forensic accountants prepare reports and will often have to give evidence during a trial. Billings and Ellis have many years of experience as forensic accountants for parties involved in legal proceedings, and in a wide variety of commercial situations where skilled forensic accountancy is needed.
How about forensic accounting analytics?
Because Billings and Ellis are specialists in cloud accounting, as well as experienced auditors and forensic accountants, we are able to undertake assignments in forensic accounting analytics. Forensic analytics can involve following and investigating cloud accounting system audit trails, etc.
Where forensic accountancy services can be invaluable…
Do you know how forensic accounting first started?
The role of the forensic accountant dates back to ancient Egyptian times. Pharaoh had scribes account for his gold and other assets. These scribes worked in Pharaoh’s courts and were responsible for fraud prevention and detection.
The role of the forensic accountant remained much the same until the turn of the 20th century.
However, in the 21st century, the forensic accountant is more often required to follow an electronic ‘paper trail’.
Why there is a growing need in Australia for forensic accounting…
Billings and Ellis are your forensic accountants in Melbourne. Talk to us.
Forensic accounting and fraud investigation methodologies are different than those used for internal auditing. Not every accountant has the knowledge, skills, and experience needed to deliver excellence as forensic accountants. That’s why you should talk to Billings and Ellis about your situation and forensic accounting requirements.