According to the Association of Certified Fraud Examiners, companies lose an estimated 5% of their revenue to fraud each year. That’s not just a line item- it’s a potential legal and reputational crisis. When the financial truth is unclear or contested, forensic accounting services step in to uncover what really happened.
At Prosperity Partners, our forensic accounting services go far beyond spreadsheets. We’re called upon when the stakes are high – during litigation, shareholder disputes, internal investigations, and regulatory reviews. We dig deep, document everything, and prepare findings that stand up in courtrooms, boardrooms, and behind closed doors.
What Are Forensic Accounting Services?
Forensic accounting services involve the investigation, analysis, and interpretation of financial data to support legal proceedings, regulatory inquiries, or internal investigations. These services are used to detect fraud, quantify damages, trace hidden assets, and evaluate financial misconduct.
Unlike traditional auditing, forensic accounting is focused on clarity and causation. It answers not just “what happened?” but “who was involved?” and “what are the financial consequences?”
When to Engage Forensic Accountants
You don’t need forensic accountants for everyday operations. But when something doesn’t add up – literally or figuratively – they become essential.
1. During Commercial Litigation
Forensic accountants help quantify damages, trace financial misconduct, and support legal strategy in cases involving business interruption, breach of contract, or fiduciary breaches.
2. In Partnership and Shareholder Disputes
Disagreements over compensation, disputes, distributions, or asset valuation often require a neutral, third-party analysis. We provide the financial clarity necessary for resolution.
3. For Fraud Investigations
Whether internal or external, fraud can leave organizations vulnerable. We uncover the full scope of the issue and support any legal or civil claims that follow. See our analysis of financial fraud types discovered through forensic accounting.
4. As Expert Witnesses
In litigation, it’s not just what you know – it’s how you present it. Our team regularly serves as expert witnesses in financial disputes. Learn more about the role of forensic accountant expert witnesses in legal proceedings.
Our Process: Structured, Thorough, Defensible
We don’t guess. We don’t assume. Every forensic engagement at Prosperity Partners follows a documented, repeatable process:
- Initial consultation to understand the scope and objective
- Collection and preservation of financial records
- In-depth financial analysis and reconciliation
- Documentation of findings and potential irregularities
- Clear, court-ready reporting with supporting exhibits
Our senior leadership, including Harry Cendrowski and John T. Alfonsi, bring decades of experience in forensic accounting, valuation, and expert testimony.
Why Clients Trust Prosperity Partners’s Forensic Accounting Expertise
Our clients don’t come to us with simple problems. They come when the issues are murky, messy, and consequential. We’ve advised on high-profile cases involving executive fraud, financial misstatements, and even the intersection of QSBS redemptions and reinvestments.
With our cross-functional knowledge in tax, finance, legal strategy, and valuation, we bring unmatched depth to every investigation. And we don’t just identify the problem – we help structure a recovery plan, too.
Partner With Prosperity Partners for Trusted Forensic Accounting Services
When financial integrity is in question, the right partner makes all the difference. Prosperity Partners Advisors delivers forensic accounting services trusted by law firms, businesses, and institutions nationwide. Whether you’re dealing with fraud, dispute resolution, or litigation prep, we help you move forward with clarity.
Ready to take the next step? Contact our forensic accounting team today and put trusted expertise to work for your case.
Frequently Asked Questions
What are forensic accounting services?
Forensic accounting services are specialized financial investigations used to uncover fraud, quantify economic damages, and support litigation or regulatory matters.
What does a forensic accountant do?
A forensic accountant investigates financial data to identify fraud, misappropriation, or errors, and prepares findings for legal or regulatory review. They often serve as expert witnesses in court.
When should I hire a forensic accountant?
You should hire a forensic accountant when facing fraud allegations, financial discrepancies, legal disputes, or partnership conflicts that require objective financial analysis.
Are forensic accounting services admissible in court?
Yes, forensic accounting services are admissible in court when performed by a qualified expert. Their analysis is often used to support claims, defenses, or settlements.
What industries use forensic accounting services?
Forensic accounting is used in industries like real estate, healthcare, manufacturing, financial services, and legal practices – anywhere financial fraud or disputes may arise.
Can forensic accounting detect all types of fraud?
While forensic accounting can detect many types of fraud, its effectiveness depends on access to records and cooperation. It’s one of the most powerful tools for uncovering financial misconduct.
How are damages calculated in forensic accounting?
Damages are calculated through financial modeling, historical data review, and industry benchmarking. At Prosperity Partners, we address both lost profits and lost business value. Learn more about calculating economic damages.