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Marcum LLP
Marcum LLP
Valuation & Litigation Support

Financial Forensic Investigations

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Financial forensic investigations are a specialized field of accounting that utilize accounting, auditing, and investigating skills.

Our forensic investigation will look beyond the numbers to identify missing or incomplete data, financial discrepancies, and/or financial fraud. We will assist in translating complex financial issues into a more understandable manner and produce a clear and concise analysis.

Our forensic professionals include in-house attorneys, CPAs, valuation analysts, IT forensic specialists, and Certified Fraud Examiners. We work closely with legal professionals, their clients, and advisors to provide the necessary financial tools and achieve the desired outcome.

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Investigation Used in Connection with Business Valuations

A business appraisal may require an investigation of inappropriate expenses or unrecorded revenue. When necessary, our forensic investigation will look deeper into financial activity to understand whether certain financial numbers match; if they do not, we will investigate why. By doing so, our examination may uncover those transactions and personal activities that may affect the income or assets of a business.

Determining True Economic Income in Divorce

In addition to their weekly salary, business owners may receive income from their business in other forms that are not apparent. Distributions, payments made on behalf of an owner and treated as expenses of the business, and payments treated as officer loans may be considered part of total earnings. In an effort to reduce their tax liability, an owner may run personal expenses through the business that may be overlooked at the time of a divorce. Our forensic investigation will include a review of the expenses and other transactions to determine the true income to the business owner generated from a business.

Fraud and Embezzlement

Fraud and embezzlement should continue to remain a concern for business owners. In their 2016 Report to the Nation, the Association of Certified Fraud Examiners reports a typical organization loses about 5% of its total annual revenue to fraud and abuse each year. The Report also found that on average a fraud lasted a median of 18 months before being detected. Nearly half of victim organizations do not recover any losses that they suffer due to fraud. Further, the perpetrators with higher levels of authority, such as managers and executives, tend to cause much larger losses, and most occupational fraudsters are first-time offenders with clean employment histories.

Our forensic investigation team will review the financial operations for possible fraud. In addition, we will review internal controls and recommend anti-fraud procedures to help deter and prevent fraud from occurring in the future.

Newsletter

The Forensic Files

A recap of advisory-based issues

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Mark Harrison

Partner-in-Charge
Valuation & Litigation Support
Valuation & Litigation Support
New Haven, CT
 
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