Forensic financial analysis is more commonly thought of as fraud detection. Checks and balances to prevent fraud are often incomplete or sidestepped in actual day to day business practice, despite what the organization chart and company police states. But the untapped value of forensics analysis is in the development of a learning organization in identifying the feedback loop where a company stops repeating errors. Errors continue within bidding system, within product pricing, and in production. Forensic analysis deals with all of these and more. Repeated misinformation or even more common, the lack of information, creates waste in cost and company performance. Past data being converted to accurate information is crucial for decisions the company faces in the present and int future.
SOS experience has been errors are in every accounting system, in every form of information. Bias and human error plagues every system. SOS has certified training and years of experience with the following basic tools and skills, which are necessary to make sure data is correct and company resources are properly managed:
- Forensic accounting
- Fraud analyst/discovery
- Company checks and balances
- Financial normalization and standardization
FORENSIC FINANCIAL ANALYSIS CASE STUDY
To learn more about our experiences with Forensic Financial Analysis, read our Case Study.
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