A forensic audit and fraud investigation are similar but not the same. Forensic audit which has become synonymous with forensic accounting is the use of professional accounting skills in matters involving potential or actual civil or criminal litigation. The word forensic is defined in the dictionary as used in or suitable to courts of law or public debate. Therefore, forensic accounting is actually a form of litigation support involving accounting. Accordingly, most fraud investigations involve forensic accounting, but not all forensic accounting involves fraud investigation.
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In this video, I will explain to you the difference between a forensic audit and fraud investigation. Each organization will have different criteria for deciding whether allegations/suspicions qualify
for a formal investigation, but common ones include:
• Credibility of the allegation
• Type of incident
• The subject of the allegation
• The business purpose of the activity at issue
• Seriousness or severity of the allegation
• Potential negative impact
• Likelihood that the incident will end up in court
• The ways in which prior, similar incidents were handled
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About me: My name is David Malamed. I am an experienced forensic accountant and fraud investigator that has investigated, reported, testified and authored expert Forensic Accounting and Investigative reports accepted and used in civil, criminal and public inquiry proceedings.
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Email: info@uncoverfraud.com
Call: 1(888) 777-4416
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