Forensic Accounting Service Singapore

Forensic Accountants Uncover the Truths behind the Numbers 

forensic accountant

Forensic Accounting Service

Forensic Accounting Service is necessary when there is suspected fraud. It involves the use of scientific methods and special accounting techniques to investigate accounting malpractices. Forensic Accountants are trained in areas of accounting, auditing and investigation so that they have the necessary knowledge and skills to scrutinize the financial transactions.

 

Companies and businesses may be motivated to misrepresent their profits to show better results or to evade tax. As Statutory Financial Audit is not tasked to uncover fraud (i.e. Statutory Audit only provides an opinion on whether the Financial Statements are drawn up in accordance with Singapore Financial Reporting Standards), Forensic Accounting Services becomes critical in revealing the true financial position of the companies and businesses. The main difference between Auditors and Forensic Accountants is that Auditors act as patrolling guards who skim the surface of the Financial Statements while the Forensic Accountants are detectives who dive deep into the financial numbers and gather financial evidence of misleading transactions which are intentionally recorded to conceal the truth.

 

forensic accounting service
forensic accounting service singapore

Forensic Accounting Service is frequently called upon when there is suspected corporate fraud, whistle-blower issues, bribery and corruption cases.

As many financial transactions are recorded in electronic form, Forensic Accounting Service Provider usually has 2 specialized teams – One team has Financial Forensic knowledge (i.e. Forensic Accountant) and another team has Computer Forensic knowledge (i.e. Computer Forensic Expert). The Computer Forensic Team is responsible for imaging or cloning the information found in the computer hard-disk and server, and sieve out relevant information for the Forensic Accountant. It also ensures that the computer evidence is preserved in a manner which can be used as evidence in court. The Forensic Accountant will examine the information extracted by the Computer Forensic Team and draw conclusion, similar to putting together a jigged-jaw puzzle.

Past Cases where Forensic Accounting Service is Required

In the past, there were a few investigation cases relating to Singapore charitable organization where forensic accountants were involved to uncover fraudulent transactions. They are the Ren Ci Case, NKF Case and City Harvest Church Case. The forensic accountant plays a critical role in surfacing evidence for court prosecution.

Forensic accounting service aside, general accounting services like financial reporting, management reporting and bookkeeping form the bulk of our business. We would be glad to deploy our bookkeepers, financial accountants or management accountants to assist you in any accounts matters.

Payroll Service and other Human Resource or HR Services like compensation advice and recruitment program consulting can be easily supported by us.

Getting the right accounting software can really save you time and effort in recording and report generation. We recommend affordable online cloud accounting software like Quickbooks and Xero for small firms.

For free accounting software, Wave Accounting Software is one of the best we have tried.

Let our tax specialists look into your business and tax structure and see if there can be greater tax savings. We provide a wide range of tax filing and consultancy services and they are:

  1. Corporate Income Tax
  2. Individual Income Tax
  3. Withholding Tax
  4. Goods & Services Tax (GST)
  5. Registration for GST
  6. Self-Review and Voluntary Disclosure
  7. Transfer Pricing
  8. Application for Certificate of Residence
  9. Trust Income Tax

 

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We discover real gems in this business world, restructure it, value it, help to sell it at a premium. Our way of buying and selling business is to ensure that everybody wins.

Fraud Prevention Discussion with our Forensic Accounting Service Team

Why wait till fraud occurs? Take pro-active approach in dealing with accounting fraud by getting our qualified accountants to prepare your books.

We can be reached at (+65) 6303 0625 or via our contact form.

fraud prevention by forensic accounting service team

Qualified Forensic Accountants to Investigate Accounting Fraud