Asset and Income Tracing
Asset tracing is a complex accounting service, and can be useful for a variety of reasons. At Shilts CPA, we offer high quality financial forensic investigations, to help you understand how the assets were handled and exactly where they were moved. These services can be beneficial for both businesses and individuals, and our goal is to cater the services based on your individual needs.
A forensic accountant can trace assets through analyzing, interpreting and summarizing financial information to provide clarity on the use of funds or other types of assets. In addition to investigating and analyzing, a forensic CPA can also help with the presentation of the applicable information in the form of reports, collection of documents, and exhibits. The CPA can also be of assistance in legal proceedings, such as stepping in as an expert witness to testify in court.
There are a wide range of circumstances when a forensic accountant can be helpful. These services are often used in situations when fraud is suspected or anything that involves financial business disputes. By tracing the assets of the company, it is possible to detect potential wrongdoings that might have occurred, and even recover the funds.
Our experienced forensic team will study financial records such as purchase orders, ledger accounts, bank statements, cash receipts, electronic payment data, and cancelled checks. By investigating the transactions that have occurred, it is possible to identify variances between invoices and the actual payment as well as any unusual activity that might signal fraud.