Forensic Accounting in Belgium
Forensic Accounting in BelgiumUpdated on Tuesday 20th September 2016
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Forensic accounting represents a legal procedure through which the documents of a company are being investigated in order to discover financial evidence which can be used in a lawsuit, for example. The forensic accountant performs a set of investigative procedures, which are applicable to all the important documents of a business, from the bookkeeping documents to the financial statements.The technique combines the procedures applied in fields such as accounting and auditing, but also investigative techniques. Businessmen who are involved in a lawsuit referring to their company’s financial activities or those who consider that such procedures should be imposed for other reasons can receive assistance from our attorneys in Belgium.
The responsibilities of a forensic accountant in Belgium
The forensic accounting procedures are performed by a Belgian forensic accountant, who must be a person with a high level of knowledge in the field of accountancy. His or her job is crucial for the final assessment, which can be used to bring claims to a local court. Moreover, once the audit is completed, the forensic accountant can be called to testify in a Belgian court, based on the respective findings.
Our lawyers in Belgium can provide more details on the legislation which prescribes the ways in which this procedure can be performed here.
Amongst the main responsibilities of a forensic accountant in Belgium, we mention the following:
• analysing the financial documents of a company;
• create computer presentations in order to present a report on his or her findings;
• create a report based on the documents and present the main documents in which he or she identified various evidence;
• assist the legal proceedings as an expert on the respective issue;
• testify in the court;
• prepare visual aids to sustain the official report.
Why is forensic accountancy important in the business environment?
In a more and more dynamic business environment, the risk of fraud and other associated events is higher. Such risks can appear from the management of the company, its employees or third parties. Forensic accounting is useful for fraud cases, conflict of interest between the representatives of a company, when the company’s internal conduct code is not respected by various persons, non-compliance and other corporate matters.
Forensic accountants can also provide solutions to various financial issues or options that the businessmen can follow.
Persons who are interested in receiving more details referring to the forensic accounting procedure are invited to contact our Belgian law firm.