Forensic accounting is a new technology as far as auditing and accounting of the company’s finance is concerned. Very few people have knowledge about forensic accounting. In fact it is indispensable for exposing frauds and white-collar crimes. It was a belief in past that through timely auditing and scrutiny, frauds of a company can be checked. But this has proved fruitless. Due to technological advancement, people use many new methods of doing unethical deeds. Auditing can only check the books and policies of the company but the main need is to check fake dealings that companies many times show in the books to save tax. Forensic accounting helps to investigate methodical details.

Forensic accounting is a legal term, which has litigation support (truthful presentation of financial issues), analysis and dispute resolution. The use of forensic accounting is growing very fast in banks, insurance companies, civic departments, corporations, and government agencies. The dictionary meaning of the word forensic is “suitable for use in court”. Forensic accounting follows unconventional methods for solving complaints according to situation and need. Information is collected with the use of authentic and factual resources.

In modern times all the large and medium sized departments have started forensic accounting cells in their department for better protection of financial resources. Forensic accounting is playing a proactive role in the reduction of corruption. It examines the accounts, frauds, insurance claims, personal injury claims, and construction audits. Forensic accounting utilizes information reporting system, various auditing and accounting standards, procedural techniques and litigation processes to do investigation authentically.

Companies in today’s time are growing in an enormous way, which has resulted in a heap of complexities in analyzing the accounts. When we talk about a multinational company it means we are dealing with a budget of thousand of corers of bucks. Forensic accounting acts as an advisory cell and uses explanatory analysis to discover discrepancies. Forensic accounting experts analyze cause and effect relationship. They are trained in such a way as to understand the tricks played by real life businessmen.

The main point of the experts’ investigation is verification of objectives. Comprehensive knowledge and critical outlook is necessary for forensic accounting experts. Experts should have the knowledge of psychology, frauds, corruption, networking systems and criminal and civil law. They also should have command over communication skills. As experts are the part of a legal team, nothing can escape their clever and trained eyes.

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Some of the biggest criminal and civil cases involve not just individuals but corporations and companies. One of the most powerful evidence presented during corporate trials are testimony and information provided by forensic accounting firms. On the other end of the spectrum, forensic accounting firms can also be employed by companies to ensure that there are no fraudulent activities being committed.

If you want a job with the best forensic accounting firm, here are the top forensic accounting firms that you should consider.

Deloitte. Deloitte is one of the most respected accounting groups focused in forensic accounting. One of the key philosophies that have pushed the Deloitte firm to success is their attention to details. Most businesses today have extensive networks, partnerships, and linkages with other sectors, industries, and businesses. Deloitte offers accounting strategies that will pore through all anything and everything connected to the group that they are working for, to ensure that your company can rest assured that all of your accounts and audits are clean. Deloitte is also one of the most experienced firms, with investigations in almost all industries ranging from banking and finance, to industries like tourism and retail.

Marcum Accountants and Advisors. Most forensic accounting firms are asked to provide expert testimony for corporate cases that involve auditing and accounting fraud and discrepancies, as well as disputes between shareholders. Marcum specializes in this field, and provides services for companies that face litigation, regulatory inquiries, and many more. The Marcum group has handled many high profile companies and are experienced in investigations that involve money laundering schemes, lapping and kiting, racketeering, investment portfolio churning, Ponzi schemes, and many more. When necessary, the Marcum accountants can also provide written documentation and expert testimony that can be used in courts. This makes the company invaluable for corporations that are already facing legal cases.

Kessler International. One of the most famous forensic accounting firms is the Kessler International group. The Kessler team is composed of highly trained forensic accountants, fraud examiners, researchers, and investigators. The Kessler group specializes in damage computation, royalty audits, fraud detection, compliance determination, claims analysis, and expert witness testimony. The Kessler group is one of the top firms to go to if you want someone to check for fraudulent activities within your company. The apart from forensic accounting, the Kessler group also offers computer forensics, corporate investigation, and brand protection. All of the corollary services offered by the Kessler group makes it an invaluable all-around financial and auditing security system for companies and corporations.

The Bank of Montreal estimates it may lose as much as million on a mortgage scheme that involved some of its own employees. The bank is suing a few hundred people including four of its own employees, along with mortgage brokers and, so far, seventeen lawyers in what they allege is one of the largest cases of mortgage fraud in Canadian history.

The Bank of Montreal says its securities department first noticed irregularities in several of their Western Canada mortgages back in 2006. This prompted the bank to hire a forensic accounting firm who spent the next year digging through the details to uncover what was really going on.

The forensic accounting firm realized a rather sophisticated scheme where scammers would chose the worst house in a preferred, established neighbourhood. They would then convince the bank the house was worth much more than it really was due to it’s location, and being as banks rely on software programs to determine house values, the banks would concur. The scammers would then purchase the house and pocket the difference.

To qualify for the mortgages, these scammers were paying unsuspecting people, generally new immigrants ,000 to ,000 for the use of their name on the mortgage. Lawyers would then step in and draw up fake documents of earnings, often showing inflated wages and high net incomes to ensure the immigrants would qualify for the mortgages. The legal documents filed by the bank shows the fraud scheme was operated by 14 inter-connected groups that generated approximately 0 million of which million was in fake mortgages.

The Bank of Montreal’s documents also showed that millions of the fraudulent money was sent to countries such as India, United Arab Emirates, Lebanon Pakistan and Saudi Arabia. They also noted that in one instance alone, a home in Calgary that was bought for 0,000 was sold three years later for .3 million, netting the scammers a whopping .4 million.

A Calgary based management company had documents unravelled by the Bank of Montreal investigators showing 150 suspected counts of mortgage fraud within 16 different financial institutions. The investigators felt this was a clear sign of how inefficient the controls are in the banking system. If you have been the victim of fraud and have had your finances affected because of it, you might want to consider a consolidation loan. If your credit rating has been affected, you still have options to repair your credit and consolidate debts. A car title loan may help get your credit and your finances back on track.

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Princeton, NJ (PRWEB) June 17, 2004

Intelysis Corp. announced today the addition of Jack P. Mattera, CFCE, CFE as Director of Computer Forensics. According to Bashir Rahemtulla, President, Mattera will oversee the companyÂ?s global computer forensics operations. He joins the Intelysis office in West Trenton, New Jersey.

With 23 years of law enforcement and investigative experience, including 15 years with the US Treasury and State Departments, Mattera is one of the top computer forensic specialists in North America. A former President & CEO of the International Association of Computer Investigative Specialists (IACIS), recognized as the preeminent organization in the area of computer forensics, he also holds Certified Forensic Computer Examiner and Certified Fraud Examiner designations.

Intelysis, which also has offices in Toronto, Canada and London, England, is an internationally recognized corporate investigation and forensic accounting firm, providing expertise and assistance to corporations and their legal advisors in investigating and preventing fraud. The firm also specializes in fraud and security reviews, commercial due diligence inquiries and employment/background screenings.

Â?Computers are the cornerstone of virtually every business and experience has shown, they are routinely used as an instrument of fraud. The addition of a distinguished computer forensics expert to our team enhances our ability to detect fraud and prosecute cases on behalf of our clientsÂ? said Rahemtulla.

Sandy Boucher, worldwide head of investigations at Intelysis expressed his excitement at the appointment, noting Â?the growth of our global team of specialists has taken a great leap forward with the addition of Jack. With his extensive experience and specialist knowledge, Jack will dramatically enhance the capabilities of our rapidly expanding computer forensics division, and adds another key facet to our powerful multidisciplinary investigative team. His combination with David Ziegler and Jeff Brenner, our investigative and legal experts in the States, guarantees that fraudsters, high-tech or otherwise, now have more to fear than ever before.Â?

For Further Information contact

Jeff Brenner Esq. at 800 489-1239

or Sandy Boucher at 800 433-5222

www.intelysis.com