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Forensic Accounting Services

Forensic accounting services in the UAE

The growth of any business is influenced by the extent to which it complies with regulations, whether it is an SME or a large company. A profitable company loses its reputation if it is involved in improper or illegal activities. An organization with a complex structure is more likely to be involved in fraud and therefore needs the services of experts to protect itself. We provide quality forensic accounting services in Dubai, Sharjah, Ajman, Abu Dhabi and all other countries in the UAE.

What is forensic accounting?

Forensic accounting is an investigative process that examines the accounting records of companies. It is carried out to check whether a company has committed financial reporting irregularities. Forensic accounting is usually carried out by chartered accountants and auditors in the United Arab Emirates. The main objective of the investigation is to detect financial crimes within the organization.

The purpose of forensic accounting/fact-finding

  • To protect institutions from fraudulent activities
  • To inform business owners of any wrongdoing
  • To reduce growing threats and risks
  • Impartial fraud investigation
  • Clear insight into financial transactions
  • Preparation of a fraud case for the court of jurisdiction

What are the main duties of a forensic accountant?

In the United Arab Emirates, a forensic accountant is required to perform a number of duties. These include extracting financial data from documents, creating spreadsheets, conducting forensic analysis to trace money and locate assets for recovery, conducting forensic analysis based on financial data, and preparing forensic accounting reports.

What types of fraud require forensic accounting?

Forensic investigations in court deal with several types of fraud. Forensic accounting experts’ help companies identify different types of financial crime in business, such as:

  1. Fraud investigations

Businesses unknowingly engage in various types of fraud, such as securities fraud, insurance fraud, wage fraud, internet fraud, debit and credit card fraud and bank account takeover fraud. Fraud investigations are carried out to uncover these illegal activities by looking beyond the numbers. The main objective is to find out who carried out these illegal activities and how.

  1. Money laundering and financial terrorism

Money laundering is an illegal activity in which a criminal earns a large sum of money through terrorist financing or drug trafficking, etc. The business owner should hire forensic accountants to prevent money laundering.

  1. Theft of intellectual property

In many cases, internal or external stakeholders store companies’ digital information on computers for illegal use. This is a serious criminal offence that can be tackled through computer forensics and data analysis.

  1. Falsification of financial statements

Falsification of financial statements is defined as the manipulation of elements of a company’s financial statements. It occurs when a company exaggerates assets, sales, profits, expenses or losses. This activity is considered a criminal offence because the falsification does not reflect the true position of the company.

  1. Financial corruption

Financial corruption is often practiced by senior management or public officials. People in positions of authority usually engage in this type of dishonest behavior. This includes under-the-table dealings, giving or accepting bribes, diverting funds, double-dealing, manipulating elections and defrauding investors.

6. Employee theft

Employee theft is the theft, use or misuse of an employer’s personal property without authorization. It involves the theft of the employer’s assets, money and other non-monetary property for unlawful purposes.

  1. Tax evasion

Tax evasion refers to the illegal non-payment of taxes in the UAE. Many organizations submit false VAT or excise tax returns to the relevant authorities. This carries criminal penalties if the organization under-declares the amount of income actually received.

These are some of the most popular types of fraud, but our criminal investigators are not limited to these scenarios. In addition, we professionally detect these irregularities and explain financial crimes in court.

Is it right to outsource forensic accountants?

Yes, it is absolutely right to outsource the investigation of your company’s accounts to forensic accountants. Because sometimes company accountants fail to detect fraud in financial documents and are unable to recover losses. This also gives rise to heavy fines and penalties imposed by regulatory authorities. They become aware of criminal activities when it is too late and the company’s reputation is at stake. In such a situation, it is best to hire forensic accounting experts who can carry out a detailed analysis to find errors in transactions. Always choose one of the leading forensic accounting firms in the UAE that provide timely and accurate fraud investigations. It is a wise decision to hire a forensic accountant, even if it is a little expensive, but in the long run you will be able to protect a lot of resources.

Our forensic accounting services in Dubai

Our team of chartered accountants and financial advisors provide forensic accounting services across the UAE. We guarantee confidentiality, accuracy and timely completion when analyzing your accounts. Our accountants are experts in this field of accounting and bookkeeping and use their skills to comply with regulatory requirements. By using our forensic experts, you will gain a number of amazing benefits, such as:

  • Detect embezzlement or fraud
  • Explain financial crimes in court
  • We offer forensic training programs
  • Fight against criminal legal activities
  • Provide asset tracing
  • Confidentially report fraud
  • Evaluates a company’s historical data
  • Detection of discrepancies in financial documents
  • Asset identification and recovery
  • Due diligence
  • Identifying non-compliance issues
  • Recommend strategies to combat corruption
  • Fraud risk management

We understand the importance of forensic accounting to protect an organization’s assets and reputation. Let us find out how we can help you and protect your business from illegal activities.

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