Mizael Partners was founded in 2013. Since then, we have helped more than 2,000 clients become self-sustaining, compliant, and ready for growth. We are specialists providing innovative solutions in accounting, auditing, financial advice, tax, bookkeeping, and forensic accounting. Contact us today to find out what we can do for your business.
Forensic accounting is a specialty practice area of accounting that describes engagements that result from actual or anticipated disputes or litigation. Forensic means “suitable for use in a court of law”. Forensic accountants, also referred to as forensic auditors or investigative auditors, often have to give expert evidence at trial or leading up to trial.
A forensic accountant may be retained in a variety of ways. A business may keep a forensic accountant in-house. An individual may hire a forensic accountant for a specific project. Forensic accountants may work in public practice or may work for an insurance company, bank, government agency or other type of organisation. A forensic accountant may work for many different types of clients and on a variety of cases.
Forensic accounting may be used by organisations and corporations to try to prevent fraud from occurring in the first place. Early planning can help prevent a sequence of events from going into effect that would result in a customer or client committing fraud against the business. This type of case seeks to control a situation before something bad occurs.
Forensic accountants may be hired after a business suspects theft, fraud or embezzlement. Employee fraud may occur because an employee is under financial pressure due to a divorce, gambling addiction, medical issue or other issue. The employee may rationalise their behaviour because they are not earning a desired income or did not receive a wanted promotion. Many employees have the opportunity to steal from the company or embezzle funds. A thieving employee may have been in a position of trust for many years and may know where the vulnerabilities of a business are and how to exploit these vulnerabilities.
We specialise in ensuring all financial records accurately reflect the position of the organisation. We make sure that all documents and statements are compliant with Australian International Financial Reporting Standards (IFRS) and prepare businesses should they be audited.
To speak to one of our accredited accountants, please call us on 1300 444 004.