Investigative Techniques
Mona M. Clayton · 2012
This chapter illustrates what a forensic accounting investigation is like and how it differs from a financial statement audit. No two investigations are alike, and “last year's workpapers” do not exist in various situations. Materiality has little meaning to the forensic accounting investigator. Investigating can be a lengthy process due to the volume of data requiring review. Effective communication, including setting clear expectations, is an essential skill of the investigative team. The investigation may begin with a telephone call from a concerned client or audit committee chair. Investigative techniques include data-mining, document reviews and account reconciliations etc. Requesting, obtaining, and maintaining document control are usually important aspects of any investigation. This task should not be taken lightly, especially in cases in which there are thousands, if not millions, of documents, and binders and boxes may be in the hundreds.