Can a Forensic Accountant Help If You Suspect an Employee of Committing Fraud?

Can a Forensic Accountant help if you Suspect an Employee of Committing Fraud?

As a business owner, it can be hard to accept that an employee may be stealing from your company or is acting fraudulently. Before you confront the employee, it is important to properly investigate the signs or trail of fraudulent behavior to ensure you have evidence to back up your claims and are aware of the full extent of the fraud.

Firstly, what are the signs of fraudulent employee behavior?

• If you are noticing irregular inventory loss or inventory being declared broken or damaged more frequently than usual.
• A particular employee's expenses are unusually high.
• You notice suspicious activity in your company books or bank account.
• The number of refunds or void sales your company gives is rising for an unclear reason.

If you notice any of the above examples, contacting a forensic accountant should be your next step.

How does Forensic Accounting help?

Incidences such as inventory loss or fraudulently manipulating a business' accounts can be hard to analyze, especially if more than one employee is involved. A forensic accountant will be able to identify any unusual behavior and trace it back to its source, helping you find the culprit of the theft. If legal action then needs to take place a forensic accountant can quantify the total loss your business experienced because of fraudulent activity and help support you as you make a claim. Should court action be required, a forensic accountant can act as an expert witness or testify in favor of your case.

Above all, a forensic accountant will ensure that if you suspect an employee of committing fraud you will not have to dedicate your time to investigate the matter, instead, you can dedicate your time to re-strengthening your business.

Do you require the Forensic Accounting Services?

KA Forensic owned by accounting expert Jim Kinsel, is a forensic accounting company with over 30 years of professional experience who deliver consulting services based on their industry expertise. If you require more information about forensic accounting, do not hesitate to contact a member of our professional team today.