Forensic Accounting Report
Preparing the Forensic Accounting Report is part of your major responsibilities if you are a forensic accountant. This task is normally done at the final stage of your investigation. In this article, we will tell you’re the main element that you should include when you prepare your forensic accounting reports.
Before list down the main element that you should include in your Forensic Accounting Report, we would like to give you some main objective of Forensic Accounting Report. Hopefully, you would have some idea about Forensic Accounting Reports.
Forensic accounting engagements are normally investigated over fraud, dispute, insurance claims, and criminal cases. This engagement normally called by police, lawyer, or the parties in dispute.
Forensic accountant reports normally use as evidence to resolve the case and present to the person seeking forensic accounting service, normally lawyer, the insurance company, etc.
Related: What is Forensic Accounting?
The main elements to be included
1. Executive Summary of Report
Your Forensic Accounting Reports should provide a summary for your reader to make sure that they could get a clear understanding of your reports by not spending a long time.
The importance of opinion and findings that you found during your tasks and you want your reader to pay attention to should be included here.
Executive Summary should include:
- Scope of service
- Objective of service
- Investigation Approach
- Summary of Finding ( key Finding)
2. Scope of works in the report
The scope of your forensic accounting works is really important both for you and the party who engage with you. Therefore, have to organize a good scope of work is really important.
Scope of works also helps forensic accountant to prevent and protect their liabilities to the company or other parties in case there are some problems occur. For example, there is fraud depend on the company, but it is of our scope of the accountant.
Make sure you include this in your Forensic Accounting Report.
3. State Findings in Report
Findings are the weakness, errors, or fraud that you found during the cause of your works. All of the findings should be rate base on the nature of finding, route cause and impacts.
Clearly attach with evidence is really important to empower your findings. Wring the finding should be clear and concise. making sure that the findings are telling the true situation and represent fact.
It probably different from audit findings, forensic accounting findings mostly face data.
4. Provide the Conclusion in the report
All of the forensic accounting reports should have a good conclusion based on the evidence you found during your jobs.
Conclusion: I hope a summary of the Forensic Accounting Report could help you to produce a report. If you have any comments, please drop it below.
Written by Sinra