Forensic Accounting with a Practice Owner's Insight: We know the business because we live it too.
The VeriFind Practice Protection Solution
Your practice's financial health depends on a robust practice protection lifecycle. It begins with Bookkeeping – The Foundation, ensuring every transaction is accurately recorded from day one. Next, Internal Controls and Month-End Audits act as critical prevention steps, proactively identifying and correcting issues before they grow. For deeper oversight, Quarterly Safeguard Audits provide
continuous Monitoring and Detection, digging beyond routine checks to uncover hidden vulnerabilities. Finally, should a significant concern arise, Forensic Investigations offer a path to Resolution & Recovery, meticulously uncovering the truth and guiding your practice back to financial security. Together, these steps form a complete shield for your practice.
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Bookkeeping
The Foundation
Accurate and well-kept books are an essential part of safeguarding your practice. They are the foundation of the Practice Protection Lifecycle. Well-maintained and monitored bookkeeping allows you to properly analyze your finances, detect early warnings of issues, and make informed strategic decisions for the future success, integrity, and protection of your practice. A forensic accountant goes beyond standard bookkeeping by having the knowledge and know-how to bridge the gap between your practice management software and your accounting software.
Internal Controls & Month End Audits
Prevention
Combining strong internal controls with monthly audit procedures serves as a critical, two-pronged prevention strategy within your practice. By first establishing robust internal controls—such as segregating financial duties and limiting system access—you create a foundational defense that makes financial errors and fraud difficult to commit. The monthly audit procedures then act as a vital "second set of eyes," meticulously reviewing financial data against these established controls to verify they're being followed and are functioning correctly. This proactive, combined approach allows for the early detection of inconsistencies, errors, or suspicious activity, significantly reducing the risk of costly issues like fraud or embezzlement before they can escalate and threaten your practice's stability.
Quarterly Safeguard Audits
Monitoring and Detection
Quarterly Safeguard Audits elevate your practice protection, acting as a deeper dive beyond routine month-end reviews. These comprehensive audits serve as a crucial monitoring and detection strategy within your financial lifecycle, actively searching for subtle patterns, hidden inconsistencies, and potential vulnerabilities that might go unnoticed. By looking further, they provide an advanced layer of oversight, ensuring earlier detection of complex financial threats and reinforcing your practice's security.
Forensic Examinations
Accountability and Remediation
When embezzlement or fraud is suspected, forensic examinations become an indispensable function. They meticulously uncover hidden financial discrepancies and reconstruct transactions to expose illicit activities, providing clear evidence of what happened, who was responsible, and how much was lost. Beyond simply identifying the fraud, these examinations also quantify the precise financial damage, which is crucial for potential legal action and asset recovery. Ultimately, a thorough forensic examination offers the objective, admissible evidence needed to hold perpetrators accountable and helps businesses implement stronger controls to prevent future occurrences.