According to the Association of Certified Fraud Examiners, forensic accounting i

Question

According to the Association of Certified Fraud Examiners, forensic accounting involves litigation support that may be used in a court of law. Among the activities forensic accountants may be involved in are the recovery of funds, locating assets, taking on the role of the expert witness, performing business valuations, and assisting companies in implementing fraud prevention/detection programs.

You are assisting an attorney in a divorce case. The husband and wife own a business together and have significant assets.

What type of assistance could you give the attorney in this case? Be sure to explain the type of support you would provide in detail.

What information would you need if you were to perform a business valuation?

What would be your role as expert witness if called in this case?

Explanation / Answer

What type of assistance could you give the attorney in this case? Be sure to explain the type of support you would provide in detail.

The best assistance that can be provided will be of various documents especially financial in nature that requires a fair split of benefits between the partners who jointly own a business, in this case it is the husband and wife

What information would you need if you were to perform a business valuation?

Busines valuation takes all these factors into account

What would be your role as expert witness if called in this case?

to divulge details on the questions being probed , to support through evidence of documents which entails all moentary transactions , so that when the divorce proceedings are over , the wealth get evenly distirbuted between the partners in a fair manner

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