How Can Forensic Accounting Be Applied To My Divorce?

What is forensic accounting and how can it be applied to my divorce?

By Cathleen Collinsworth
September 03, 2015

Cathleen Collinsworth, a Certified Divorce Financial Analyst® in Irvine, answers:

Forensic accounting is a special practice area of accounting. It involves investigating financial and other data, and preparing expert-level evidence that is submitted in court. Forensic accountants work in a multitude of fields, including family law, insurance, and other areas. However, those that deal specifically with divorce are focused on helping a spouse achieve a fair and equitable settlement or judgment by ensuring that the other spouse is acting honestly and disclosing correct, complete financial information – including asset and debt levels.

Some of the areas a forensic accounting practitioner might focus on during her or his investigation for your divorce include:

  • Identifying questionable financial transactions that can relate to either personal or business expenses;
  • Analyzing business declines to ensure they’re not being done intentionally to temporarily drive down value;
  • Analyzing tax returns to ensure the lifestyle is reflected by the income levels and to prevent spouses from being able to delay reporting their income until after the divorce;
  • Fraudulent or questionable cash transactions or write-offs;
  • Hidden bank accounts.

Cathleen Collinsworth is a lawyer at Forensic Accounting Offices in Orange & Riverside County, Irvine & Menifee, California. She can be reached at 949 262-3692 or 951 679-8940 or thru email. View the firm profile here and firm website here

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September 03, 2015
Categories:  Financial Issues|FAQs

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