Data Analytics for Forensic Accountants
Forensic accountants and others should understand and leverage data analytics to get better results in less time. Any investigation that involves digital forensics will often involve analyzing large amounts of data.
Forensic technology allows investigation firms to quickly and effectively uncover evidence in support of fraud investigations, IP theft, business disputes, breach of fiduciary duty, and insider misconduct investigations.
The intersection of science and technology has enabled technologically sophisticated investigation firms to analyze and interpret large amounts of data in support of the following types of investigations:
Financial Investigations: Stochastic Forensics and Digital Forensics are combined to uncover evidence of insider theft, fraud, misuse of company resources, and business or accounting disputes.
Business Valuations: Quickly detecting discrepancies, omissions, or other potential problems and calculating data regarding the market place.
Business Intelligence: Translating data into actionable (legible) intelligence in enhancing your marketing, investment, and selling efforts.
Criminal Defense: Imagine a typical white collar criminal case (binders upon binders of financials). Now imagine not having to pay billable hours while an attorney, forensic accountant, or investigator to manually sift through data that forensic technology can parse in minutes.
The majority of accounting, private investigation, digital forensics, and even marketing firms do not invest in data analytics. Smith & Foster’s forensic accountants embrace technology to drive results faster than other firms. Our process brings our clients better results in less time.