Dec 20

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Services Offered by Forensic Accounting Services, Inc.

Forensic Accounting Services, Inc


With an eye on the details of each individual clients’ needs … Forensic Accounting Services has the experience and flexibility to tailor a host of accounting services to accommodate individual needs as well as the complex requirements of small businesses, corporations, non-profits, estates and trust.

FAS approaches each client with a focus on building long-term relationships. Our proactive approach with our clients insures they receive the individual care and attention to detail they expect from their accounting firm.

Through our full services to value-added solutions, our commitment to our clients is clearly defined.

Forensic Accounting Services general services include:

TAX SERVICES – Expert planning and compliance advice. Preparation of Federal and multi-state returns for individuals, corporations, partnerships, non-profits, trust and estates. Interim and year-end planning focused on early identification of tax problems and opportunities. FAS uses the latest comprehensive professional software in use by thousands of successful practitioners. Through the use of E-Filing, FAS can reduce long waiting periods for refunds.

Defining …


IRS AND STATE TAX EXAMINATION REPRESENTATION – Unlike many tax preparation services Forensic Accounting Specialists is a full-time, full-service professional accounting firm. FAS will represent clients in examinations concerning individual, corporate, payroll, sales and estate tax issues.

BOOKKEEPING SERVICES – FAS bookkeeping services for small business include recording revenue and expense recording activity in electronic form, posting after-the-fact payroll and preparing monthly statements of accounts. FAS will reconcile the bank accounts and prepare financial statements on a regular or as needed basis. Additionally, FAS can provide quarterly reports, file federal and state payroll returns, as well as on-site bookkeeping assistance, establishing budgets and temporary staffing solutions. We tailor services to YOUR needs.

In addition to our general bookkeeping services, FAS offers a host of other services through our New Business Assistance programs, designed specifically for small and new businesses. FAS services include consultation of ownership type, assistance with state filings for incorporation, preparation of bank required financial documents, drafting financial statements, budgets and projections, cash flow and tax planning.

FAS bookkeeping services allow for seamless processing and filing of sales tax reports, quarterly payroll filing, annual tax returns, Florida tangible and intangible returns.

Reliable financial statements for management, lending institutions, other creditors and owners are necessary but time consuming to prepare and maintain. By outsourcing the accounting to FAS, growing entrepreneurs can concentrate on areas of their operation that directly drive the business.

REVIEWS AND COMPILATIONS – FAS prepares financial statements under the strictest GAAP standards.

Our professionals prepare forecasts, projections, statements of cash flows, break-even analysis, budget, projections and variance analysis. FAS also provides internal control evaluations.

BUSINESS VALUATIONS – FAS provides valuation services for acquisitions and sales, buy-outs, marriage dissolution’s, estate planning and compliance, employee stock ownership plans, obtaining financing and business damage calculations.

MERGERS AND ACQUISITIONS – Assisting with transaction structuring, financial modeling and due diligence services Forensic Accounting Specialists will provide verification of assets, review of operations, conduct searches for hidden liabilities and critique contracts.


… Our Services


REAL ESTATE AND CONSTRUCTION SERVICES – Review and evaluate construction loan documents, budgets, support documents. Evaluating budgets to performance is a critical element to the successful completion of a construction project. FAS will review pay applications and analyze of percentage of completion to the project budget for individuals, developers, lending institutions and contractors. FAS can also prepare damage calculations due to project delays caused by general and sub contractors.

FORENSIC INVESTIGATIVE ACCOUNTING –  Our professionals provide financial investigative services for suspected fraud, the tracing preferential transfers and the preparation of damage calculations used in financial matters and legal disputes. Through the preparation of source and use of funds statements, determination of contract compliance and review of accounting controls FAS can determine breaches in controls that may lead to a break down in systems that allow fraudulent activities.

LITIGATION SUPPORT – Legal consulting is the fastest growing area of consulting services. A Certified Forensic Accountant provides assurance to the legal community and other stakeholders. This requires an exceptional degree of experience and knowledge in order to provide competent and professional forensic services. Preparation of damage calculations, analyzing opposing expert damage calculations, discovery information assistance, preparation of analytical models and trial aids, forming and defending expert opinions, drafting reports and expert testimony are critical to the resolution of litigation matters. FAS your source for litigation support.

BANKRUPTCY SERVICES – Experience in managing debtor operations, preparing financial or liquidation analysis, investigating preferential or fraudulent transfers, preparing financial statements, developing and implementing reorganization plans, as well as collecting receivables and paying creditors is critical to a good outcome. FAS has the professionals to work through the process.

SPECIAL ASSET REVIEW – Review agreements and operating statements, evaluate performance and compliance, prepare use of funds statements and provide summary of findings reports.

SPECIAL ENGAGEMENTS – FAS maintain objectivity and insure they are free of conflicts of interest in discharging their professional responsibilities. As a public practice, FAS is independent in fact and appearance when providing auditing and other attestation services.

Forensic Accounting Services performs special engagements on an individual basis. These engagements include conflict of interest engagements for other accounting providers, based upon agreed procedures and defined scope, and may include employee interviews, controller function and financial negotiations.

Objectivity is a state of mind, a quality that lends value to Forensic Accounting Services. It is a distinguishing feature of our team. The principle of objectivity imposes the obligation to be impartial, intellectually honest, and free of conflicts of interest. Independence precludes relationships that may appear to impair a member’s objectivity in rendering attestation services. The services provided by Forensic Accounting Services, Inc. often serve multiple interests in many different capacities. It is our commitment to always demonstrate our objectivity under varying circumstances.

In order to accomplish this, FAS

 have  internal quality-control procedures to ensure that services are competently delivered and adequately supervised;

 determine, in our judgment, whether the scope and nature of our other services provided to a client create a conflict of interest in the performance of our duties, and;

 assess whether an activity is consistent with our role as professionals.

Forensic Accounting Services provides a quality control review of all services performed.

Forensic Accounting Services is a member of The American College of Forensic Examiners. The American College of Forensic Examiners Institute (ACFEI) is an independent, scientific and professional society. Multi-disciplinary in its scope, the society actively promotes the dissemination of forensic information. The association’s purpose is the continued advancement of forensic examination and consultation. ACFEI has elevated standards through education, basic and advanced training, and Diplomate Status.

‘Forensic Examiners we do not ‘win’ or ‘lose’ cases, we open the door for deeper understanding and foundation of the facts.’

Since legal consulting is one of the fastest growing areas of consulting services, a Certified Forensic Accountant, Cr.FA credential provides assurance to the legal community and other stakeholders that the designee possesses an exceptional degree of experience and knowledge to provide competent and professional forensic consulting services.

Forensic Examiners seek only the truth, conduct evaluations, examinations, inquires, and report the true results of their findings in an unbiased and objective manner. The ACFEI is the largest professional membership association representing forensic examiners.

It is the goal of Forensic Accounting Services to remain objective and use their ability to serve justice by the accurate determination of the facts involved. Our team will not intentionally withhold or omit any findings or opinions discovered during a forensic examination which would case the facts to be misinterpreted or distorted. As forensic examiners, our team understands the importance of their role and to conduct themselves only in the most ethical and professional manner at all times.

The demand for forensic accounting services is expected to grow over the next decade as a result of economic downturns and the current public perception that fraud is prevalent in financial reporting. This perception is due to the unprecedented business failures of large publicly held corporations guilty of widespread fraudulent and/or questionable accounting practices. Certified Forensic Accountants are needed for litigation support, corporate investigations, criminal matters, government issues and insurance claims.



As discussed earlier, the major service areas covered by forensic accounting are litigation support, fraud investigation, bankruptcy services and business valuations. It is anticipated that expert witness and testimony will be a by-product of these types of services.

Included in the above categories are contract disputes, construction claims, business interruption losses and antitrust issues. Additional engagements will include fidelity bond claims, intellectual property theft and valuation, partnership disputes, personal injury, wrongful death and wrongful termination matters.

In each of these types of engagements, we may be asked to prove, disprove, evaluate or calculate damages and/or losses. In addition to general accounting services, Forensic Accounting Specialists will offer forensic services, fraud investigation and litigation support, to include the following;
Coordinate investigation procedures
Conduct interviews
Review financial documents
Verification of assets
Maintain chain of evidence
Prepare requests for production
Specify additional investigative procedures
Conduct background checks
Identify and locate assets
Draft reports of findings
Provide expert testimony

Manage debtors operations
Prepare financial or liquidation analysis
Investigate preferential or fraudulent transfers
Prepare financial statements
Develop and implement reorganization plans
Collect receivables and pay creditors

Review agreements and operating statements
Evaluate performance and compliance
Prepare use of funds statements
Provide summary of findings reports

Analyze discovery information
Identify additional required documents
Evaluate financial aspects of issues
Prepare analytical models and trial aids
Prepare and/or review financial statements
Prepare damage calculations
Analyze opposing damage calculations
Draft deposition questions
Assist and attend depositions
Form expert opinions and draft reports
Provide expert testimony

Review construction loan documents
Review budgets and support documents
Prepare use of funds statements
Evaluate budgets to performance
Provide summary of findings reports

Inspect control procedures and documents
Interview employees
Evaluate controls and identify weaknesses
Prepare written assessment reports
Present improvement guidelines

Whether you need financial investigation due to suspected fraud, the tracing of preferential transfers prior to a bankruptcy, the calculation of damages or it just doesn’t pass the “smell test”, Forensic Accounting Specialists is the solution.

Our associates have extensive experience in financial matters, fraud investigations and legal disputes, providing the additional forensic support to help resolve your outstanding issues.

To date Forensic Accounting Services has performed engagements throughout the US and Costa Rica.



Conduct annual audit in compliance with State of Florida statutes for associations over 50 units
Prepare financial statements [audited or reviewed] in compliance with State of Florida statutes and generally accepted accounting principles
Conduct certified audit in compliance with State of Florida statutes for developer turnovers

Set-up association bookkeeping system
Track monthly receipts and expenses
Prepare source and use of funds statements
Prepare monthly, quarterly or annual financial statements
Prepare year-end tax returns

Interviews of operations staff
Inspection of control procedures and documents
Evaluate controls and identify weaknesses
Prepare written assessment reports
Present improvement guidelines
Develop internal audit plan
Perform internal audit tasks and report findings to management

“Our clients expect us to discharge our responsibilities with integrity, objectivity,
due professional care, and a genuine interest in serving the public.
We are expected to provide quality services and offer a range of services—all in a manner
that demonstrates a level of professionalism consistent with
the Principles of the Code of Professional Conduct.”


Individuals – accounting, financial statements, tax preparation and representation, financial planning and counseling.

Small Businesses – small business services will be tailored to each individual businesses needs. From start-up assistance to basic monthly services, reconciling accounts and general bookkeeping to quarterly reporting, annual tax preparation and specialized staffing.

Groups and Organizations – specialized services for homeowner and condominium associations, groups and organizations which include financial statements, audits, compilations, reviews, fraud and/or loss prevention and internal controls.

Financial Institutions – special assets review, financial statements, due diligence, business valuation, fraud and/or loss prevention, internal controls.

Legal Community – business valuation, lost wages, arbitration services, divorce, fraud investigation litigation support and expert testimony.

Permanent link to this article: http://www.fasaccounting.com/services-offered-by-forensic-accounting-services/

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