Forensic accounting is an accounting which provides an analysis that is appropriate in the court which will develop the foundation for analysis, argument and eventually dispute resolution. The forensic accountants use accounting, auditing as well as investigative skills while they conduct an investigation. They also have a very good critical ability to answer immediately in addition to communicate financial information unambiguously and briefly in a courtroom.
Forensic accountants provide chartered accountants in Dubai. They usually recollected for the purpose of analyzing, understanding, summarize as well as submit complicated financial as well as business associated matters in such a way that it is equally understandable moreover properly maintained.
Forensic accountants can be employed in public practices or can be hired by insurance companies, banks, Governments, police forces and so forth. A forensic accountant is usually involved in the following:
- Investigation and analysis of financial evidence.
- To develop a computerized application to help out in analyzing and presenting financial evidences.
- Communication of their findings in the manner of a report, display as well as the collection of documents.
- Assistance in legal procedures, taking in account appearing in the court as a professional witness and also making visual aids to upkeep a trial event.
In turn to professionally perform the services of a forensic accountant, one must be aware about the legal theories and procedures. Additionally, a forensic accountant should be intelligent to distinguish substance over form while dealing with a problem.
Forensic Accountants have become involved in an extensive range of investigations, reaching over many different types of industries and so on. The real-world and comprehensive analysis which a forensic accountant does will reach to that point which helps in exposing trends which throw a light on significant issues.
There are several types of forensic accounting services Dubai which are done by these expert forensic accountants. These services are stated below:
- Criminal investigation
Usually, forensic investigations are related to criminal investigations which are done on the behalf of the police. A forensic accountant prepares a report with an objective of presenting evidence in a specialized and brief manner.
- Disputes of shareholders and partnership
The assignments between the shareholders and partnership usually involve a comprehensive analysis of several years accounting records to compute the issues in the dispute.
- Claims relating to personal injury or motor vehicle accidents
A forensic accountant is usually asked to compute the monetary losses that are resulting because of a motor vehicle accident. A forensic accountant requires to be acquainted with the legislation in the place that connects to the motor vehicle accidents.
- Business Disruption or other types of insurance claims
Insurance policies vary considerably in their terms and conditions. In view of that, these projects involve in a comprehensive review of the policy so as to investigate exposing issues as well as use the appropriate methods to calculate the loss.
- Matrimonial disputes
Matrimonial disputes usually involve the finding, locating as well as evaluating the assets. The assets that are to be evaluated and estimated usually are of the businesses, properties, possessions as well as other assets.