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Forensic Accounting |
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Okamoto & Company can facilitate for foreign entities a wide range of forensic accounting services. |
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The growth of regulatory compliance requirements for commercial activity both abroad and in Japan, and the increase in fraud within companies have grown continually. To countermand these potential pitfalls there's an increasing demand for forensic accountants and forensic technologies to keep businesses on course. |
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Forensic Accounting could be called the science that deals with uncovering events and involves broad level of business knowledge but highly specialized technical shills.
It is the act of fact finding of past transactions. It quantifies losses arising from an incident, such as floods, fires, motor accidents, thefts and earthquakes. And it ranges from assisting in investigating allegations of fraud all the way to assessing the monetary consequences of some force majored occurrence.
Forensic accounting works mainly in litigation support and with insurance claims. A good forensic accountant will look beyond numbers and ledgers, taking in the full picture of the reality in the business scene.
Mainly it is used to quantify insurance claims and in connection with litigation concerning demands of compensation for various business interruption, disputes, personal injuries, and their financial consequences.
Forensic Accounting also provides business valuations of companies and/or of specific brands or markets or other such commercial entities. Consultation and advise on these and related matters also falls under forensic accounting. |
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Okamoto & Company has an alliance with RGL, which is one of the largest accounting firms specializing in forensic accounting. Through our alliance with RGL, we are able to offer the following range of services; |
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Economic Loss Calculations
(e.g. business interruption, fatal accident, personal injury) |
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Estimating and/or verifying the total loss of some incident as a forensic accounting for purposes of insurance claims or litigation support. |
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2 |
Litigation support and product recalls |
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By working with law firms and/or insurance companies, we gather evidence surrounding a particular event. This could be employee fraud, product recalls and/or damages caused by an act of nature. |
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Fraud examination |
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When you have an employee who is suspicious of fraud, it is important to act discreetly and quickly in collecting evidence to support your case. Also, it's necessary to grasp an understanding of the background to minimize your current damage and to reduce any future occurrences as well. |
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Our team of CFE·s and CISA·s can help management in uncovering the facts. |
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RGL is an international firm of Forensic Accountants and Consultants with 20 offices around the world. RGL specializes exclusively in uncovering the facts, quantifying claims in insurance and litigation, determining business value and advising on related issues. Services are provided to insurance companies, independent claims adjusters, lawyers and companies in dispute. |
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