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Approach
Each Investigative and Forensic Accounting assignment is unique. Accordingly, the actual approach adopted and the procedures performed will be specific to it. However, in general, many assignments will include the steps detailed below.
Meet with the
client
It is helpful to meet with
the client to obtain an understanding of the important facts, players and
issues at hand.
Perform a conflict check
A conflict check should be carried
out as soon as the relevant parties are established.
Perform an initial
investigation
It is often useful to carry out
a preliminary investigation prior to the development of a detailed plan
of action. This will allow subsequent planning to be based upon a more
complete understanding of the issues.
Develop an Action
Plan
This plan will take into account
the knowledge gained by meeting with the client and carrying out the initial
investigation and will set out the objectives to be achieved and the
methodology to be utilized to accomplish them.
Obtain the
relevant evidence
Depending on the nature of the assignment this may involve locating documents, economic information, assets, a
person or company, another expert or evidence of the occurrence of an event.
Perform the
analysis
The actual analysis performed will be dependent upon the nature of the assignment and may involve:
Prepare the
report
Often a report will be prepared which
may include sections on the nature of the assignment, scope of the investigation,
approach utilized, limitations of scope and findings and/or opinions. The report will include those schedules and graphics necessary to
properly support and explain the findings.
