Forensic Accounting
Imagine Sherlock Holmes as an accountant—someone who is good with numbers and can find inconsistencies where most people cannot. That’s exactly how we see our forensic accounting experts. Fraud, misuse of funds, and theft can be especially difficult to find because they can occur over long periods of time and are usually buried deep in a myriad of financial statements.
Our forensic accounting professionals are credentialed as Certified Public Accountants(CPA), Certified Fraud Examiners (CFE) and Certified in Financial Forensics (CFF), demonstrating a specialization and focus on forensic accounting and fraud investigations.
Why would you need forensic accounting?
There are many reasons to hire an experienced forensic accounting firm. For more than 50 years, Fiske, a Springline company, has helped many businesses, organization and high-net-worth individuals. Most times, forensic accounting is required when theft or wrongdoing is suspected, but there are other reasons to get an accurate look at your finances.
Shareholder or Partner Dispute
When disputes arise among owners, Fiske & Company’s team assists businesses large and small in resolving these matters. If there is concern about financial distributions, personal use of company funds and assets, our professionals can help find the loopholes. Often there is a shareholder divorce or split up. Our forensic accountants can assist in the financial allocations to each partner according to the shareholder agreement.
Commercial Damages
Commercial damages include fraud, breach of contract, lost profits, construction claims, intellectual property infringement and product liability. When faced with unjust commercial losses, a forensic accountant provides expert testimony.
Employee Theft
Your forensic accountant will investigate the situation, identify the total sum of damages, aid in suspect interviews, trace the funds and other necessary measures.
Commercial Insurance Issues
Forensic accountants are hired to examine coverage issues and calculate total losses. Business interruption calculation services are sought out by business owners when the need arises.
Selling a Business or Business Shares
Selling a business can be a daunting task on its own, but even more so when it is coupled with a litigation matter such as a personal divorce or business partnership break up. Utilizing an expert accounting firm that specializes in business valuations can accurately determine company value.
Tax Audit
Organizations often fear tax audits, simply due to disorganization. Forensic accountants are a critical tool in helping businesses prepare for a tax audit. Your accountant will ensure records are organized and in order, allowing for a smooth, successful audit.
Condo/HOA Developer Turnover Assistance
Florida Statute §718.301(4)(c) establishes strict requirements for the documentation & auditing obligations to ensure transparency, accuracy, and accountability, regarding the developer’s financial activities, during the period of developer control. Our professionals are specialists in navigating the complex world of forensic methodology, expert analysis, and potential litigation pathways, available to Association Boards of Directors, homeowners, property managers, and other stakeholders, when important decisions are at hand.
EB-5 Lawful Source of Funds Reporting
Lawful source of funds reports, crucial for EB-5 visa applicants, assist in documenting capital acquired through legal means, including employment income, business profits, sale of assets, or gifts, and must show a clean “path of funds” from origin to investment. Immigrant investors must establish the legal ownership of the capital invested, the capital was obtained through lawful means, and the capital was not derived from criminal activity. Prepared by forensic accountants, such as at Fiske, this reporting process normally involves at least five to seven years of tax returns, bank statements, and transactional records. Gifts and loans to the investor are permitted as capital, provided certain conditions are met as well.