We will need to be vigilant against potential fraud as post-pandemic liquidations and bankruptcies begin to rise. Fraud often occurs when debtors deliberately try to lie or misrepresent themselves on the schedules they are required to complete during the insolvency process.
Here are some of the top red flags that Forensic Accountants will look out for that can indicate potential fraud:
Forensic Accountants are skilled in tracing cashflows and examining voluminous financial data to discern patterns of fraud and asset concealment. Most liquidations and bankruptcies involve concealment of assets. Forensic Accountants can assist by identifying and confirming any of the above red flags, tracing the movement of funds and/or assets, as well as presenting their findings and opinions related to their analyses.
Should you suspect or know of a fraud having taken place, please contact Davidsons Forensic Accountants who will be able to assist.
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DAVIDSONS FORENSIC ACCOUNTANTS
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