Forensic accounting involves the application of specialized accounting techniques to analyze financial evidence to uncover fraud or other criminal activities. It is a specialized area of accounting that requires a unique set of skills and knowledge. When considering engaging a forensic accounting service, there are certain factors to consider to make sure that you are selecting the right service for your needs.
Experience:
The first step in choosing the right forensic accounting service is to ensure that they have the experience and expertise to handle the job. Check to see how long they have been in business and what kind of cases they have worked on in the past. Make sure that the service is well-versed in the laws and regulations related to forensic accounting in your state. To learn more about forensic accounting services in Illinois, you can also visit various online sources.
Credentials:
It is important to make sure that the forensic accounting service you hire is properly credentialed. Make sure that the service is licensed and/or certified by the relevant state or federal authorities. Ask if they are members of any professional organizations such as the Association of Certified Fraud Examiners or the Association of Certified Fraud Examiners.
References:
It is always a good idea to ask for references from past clients. Speak to the references and ask questions about their experience with the service. This will provide you with a better understanding of the service and their level of expertise.
Cost:
Finally, consider the cost of the service. Make sure that the service is offering a competitive rate that is within your budget. You should also inquire about any additional fees that may be associated with the service.