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- Forensic Accounting
Forensic Accounting Industries
Business disputes can arise from a variety of situations. They can range from contract violation to employment claims or delivery of goods and services. The commonality in most business disputes is the economic damage incurred because of the dispute.
These disputes, and the overall economic damages, reside within the company’s financial records. The effect can be direct (such as fraud and embezzlement) or indirect (such as defamation). Either way, the business has suffered a monetary loss. Some of the more prevalent losses we see are:
- Misrepresentation of financial performance
- Shareholder dispute
- Breach of fiduciary duty
- Request for full accounting
- Fraud, conspiracy, embezzlement
- Unpaid and unaccrued expenses
- Partnership disputes
At Hovland Forensic & Financial we utilize our experience to investigate the economic damages resulting from business disputes. Common approaches we utilize are:
- Analyze historical operations.
- Full and false inclusion.
- Determine if the damage period is finite, and when the business will fully recover.
- Perform an analysis on the industry as a whole and understand how the business fits into the market.
- Determine what mitigation steps the business utilized.
- Review any lost customer accounts.
- Review internal controls and determine who had access to internal funds.
- Utilize expectations versus actual results.
- Provide expert testimony.
A business dispute is a stressful time. Having the correct financial information is key to resolving the dispute timely.