Forensic Accounting in Singapore

Updated on May 23,2016
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Forensic Accounting in Singapore
Forensic accounting is a division within the area of accountancy that employs accounting and financial services during investigations of fraud, differences, and mistrusted offences. 
The responsibility of a forensic accountant is to recognize and expose illegal financial practices in order to identify suspects and recuperate funds

These kind of investigations make the nature of this work a delicate one. Following the examination, the forensic accountant in Singapore is required to report to the management of the hiring company.

Many forensic accountants in Singapore are specialized in the division of fraud risk organization, where they work to decrease the probability of financial fraud.  Depending on their job choice, several forensic accountants will need to deal with law enforcement specialists and lawyers and may even be demanded to act as professional witnesses in the court of law.
This branch of accounting deals with investigating financial crimes, such as: 

•    money laundering;
•    tax fraud;
•    economic damages calculation;
•    securities fraud.

Financial investigations from our accountants in Singapore

Forensic accounting firms in Singapore assist in professional negligence rights, where they are evaluating and remarking on the work of other professionals. Forensic accountants are also involved in marital and family law of analyzing lifestyle for spousal sustenance purposes, defining available income for child support and reasonable sharing.

Forensic accountants, investigative accountants or professional accountants may be involved in recuperating incomes of crime and in relation to confiscation proceedings regarding actual or assumed proceeds of crime or money laundering.

Forensic accountants in Singapore operate an understanding of economic theories, financial reporting systems, commercial information, evidence gathering and investigative techniques, accounting and reviewing values and techniques, data management & electronic discovery, data examination techniques for fraud detection and trial processes and procedures to complete their work
Our forensic accountants in Singapore usually do not offer opinions, the work performed and reports supplied will frequently provide answers to the how, what, why, where and who.

It is important to know that the forensic accounting firms in Singapore are continuing to grow in terms of using technology to assist in activities to identify anomalies and contradictions.

 Forensic accounting services in Singapore

Here are a few types of forensic accounting services provided by our accountants in Singapore:

Forensic investigations
The use of specific investigative services in carrying out a review led in such manner that the conclusion will have relevance in the court of law. 
 A forensic investigation may be stranded in medicine, accounting, engineering or some other discipline.

Forensic audit
An investigation of evidence concerning a statement to define its correspondence to conventional standards carried out in a manner suitable to the court.  
An example would be a forensic audit of sales records to determine the quantum of rent due under a contract agreement, which is the subject of lawsuit.

Internal audit
An audit executed by an employee who inspects operative evidence in order to determine whether agreed operating techniques have been followed.

External audit
An audit made by an auditor involved in community practice leading to the expression of a specialized judgement which gives credibility to the statement under investigation.

For any information and assistance in this area, please contact our accountants in Singapore.