Forensic Accounting
Forensic accounting is a specialty practice area of accounting that describes assignments that result from actual or anticipated disputes or litigation. “Forensic” means “suitable for use in a court of law.” Professionals in this practice area are required to gather and analyse data, handle evidence in the correct manner and maintain proper custody of evidence with the view that the work will be used in a court of law.
Forensic accountants utilize an understanding of economic theories, business information, financial information, financial reporting systems, accounting and auditing standards and procedures, data management and electronic discovery, data analysis techniques for fraud detection, evidence gathering and investigative techniques and litigation processes and procedures during assignments.
Services include:
✔ Fraud Prevention, Detection and Response
✔ Inspection of accounting records, analysis of data and techniques to detect the occurrence of fraud;
✔ Fraud investigations
✔ Anti-Money Laundering
✔ Tracing Proceeds of Crime
✔ Recovering Stolen Assets
2. Economic Damages
✔ Lost profits
✔ Lost value
✔ Extra costs
✔ Lost cash flow
✔ Mitigation
✔ Restitution
✔ Out of Pocket expenses
✔ Rescission
✔ Unjust enrichment
✔ Determination of Present Value of Damages
3. Intellectual Property
✔ Patents
✔ Lost profits
✔ Reasonable royalties
✔ Copyrights
✔ Statutory damages
✔ Actual damages
✔ Unjust enrichment
✔ Trademarks/ Trade names
✔ Actual damages
✔ Unjust enrichment
✔ Apportionment matters
✔ Trade Secrets
4. Valuation
Contact AMCS Jamaica Limited for Accounting Services.