Forensic Audit Procedures: 5 Main Procedures You Should Know

Overview: Forensic audit procedures are not so much different from audit procedures. They also perform important procedures to obtain the evidence, including analytical reviews, inquiries, observations, recalculations, inspection, etc. However, as said in our previous post, What is forensic accounting? The evidence gathered from forensic accounting or auditing is normally used for legal purposes rather …

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What is Forensic Accounting? Definition, Types, and Services

Definition: Forensic Accounting is an art of investigation over accounting records, financial statements, and other related financial records. The result of the investigation is mostly used for legal support and resolving conflict. This job requires technical skills in accounting, investigation, and legal. These are what drive forensic accounting to become more attractive and highly paid. …

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3 Main Purposes of Financial Statements (Explained)

Overview: Financial statements report the entity’s financial transactions, position, and events, for a specific period of time and they are prepared and used for many different purposes including full filing the requirement of regulators, tax authorities, shareholders, board of directors, management of the entities and many others purposes. In general, there are five types of …

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