Woodbury, NY (PRWEB) January 31, 2014
The popularity and demand for forensic accounting services continues to grow largely due to several well-publicized financial scandals over the past decade. Attorneys hire forensic accountants for a variety of matters including suspected fraud, matrimonial investigations and shareholder disputes. However, the timing of when a forensic accountant is engaged may play a vital role in the outcome of a case. Gettry Marcus CPA, P.C., a leading forensic accounting firm, discusses instances when a forensic accountant should be retained.
“The forensic accountant can be an invaluable asset to an attorney in either the prosecution or defense of a matter requiring financial sleuthing. My experience has been that the earlier we are brought into a matter, the more effective our services can be in assisting retaining counsel,” says Andrew P. Ross, Partner at Gettry Marcus CPA, P.C. and a member of the firm’s Business Valuation & Litigation Services Group.
When litigation revolves around facts that require the gathering and analysis of accounting data or the interpretation of complicated accounting issues, a forensic accountant should be retained. Hiring a forensic accountant as early as possible during the discovery period allows the forensic accountant to assist the attorney in a variety of ways, including making a preliminary determination as to whether litigating is financially worthwhile. The forensic accountant should be given the latitude to investigate all facets of the matter so he or she can arrive at the proper conclusion.
Once forensic accountants are engaged, especially at an early stage, they can become an invaluable asset in a case. For example, forensic accountants know from their training and experience what financial documents should be requested and what information these documents will likely contain. In addition, the forensic accountant can provide guidance as to what course of action to take and assess areas of vulnerability.
Although bringing in a forensic accountant early in a case is important, choosing the right one is equally vital. Careful attention should be given to the qualifications of the forensic accountant and the resources of the group engaged to perform these services.
Gettry Marcus CPA, P.C., a top New York City and Long Island CPA firm with offices in Woodbury, Long Island and New York City. We provide accounting, tax, and consulting services to commercial businesses, high net worth individuals and various industries which include Real Estate and Health Care. We have one of the premier and most credentialed Business Valuation, Litigation and Forensic Accounting Groups in the New York Area. Our experience in diverse industries and a highly talented and experienced professional staff gives us the ability to share valuable insights into our clients’ businesses, to better understand their goals and problems and to help them attain the vision they have for their company.
Gettry Marcus is "Always Looking Deeper" to build value for our clients.
Media inquiries: Contact Fayellen Dietchweiler at 516-364-3390 ext. 225 or at
Fdietchweiler (at) gettrymarcus (dot) com