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Q: Forensic Accounting in Matrimony and Divorce ( Answered,   0 Comments )
Question  
Subject: Forensic Accounting in Matrimony and Divorce
Category: Business and Money > Accounting
Asked by: drewfess684-ga
List Price: $9.00
Posted: 14 May 2003 15:19 PDT
Expires: 13 Jun 2003 15:19 PDT
Question ID: 203787
What is the job of a Forensic Accountant in Matrimony and Divorce ? 

And in forensic accounting how do you become a Certified Insolvency
and Reorganization Accountant (CIRA), and what does one do ?
Answer  
Subject: Re: Forensic Accounting in Matrimony and Divorce
Answered By: justaskscott-ga on 14 May 2003 18:57 PDT
 
Hello drewfess684-ga,

The job of a forensic accountant, with respect to litigation in
general, is to practice accounting in support of litigation.  Most if
not all of the following description applies to forensic accounting in
matrimonial dissolution or divorce cases:

"The CPA can verify the existence of hidden, deferred or transferred
income, validate claims of separate property, determine disposal
income and the standard of living and identify transmuted property. 
He or she can also identify personal assets acquired by a small
business and ascertain its unreported income."

"Forensic Accounting: Performing Autopsies on Paper", by Robert Vance,
CPA, CVA, CFP
Memphis Divorce
http://www.memphisdivorce.com/forensicacctautopsy.html

As another page explains:

"After a Forensic Accountant is retained for a marital dissolution
case, he or she typically would:

Assist the attorney in defining the accounting matters 
Assist the attorney with discovery requests 
Summarize and analyze financial data and transactions 
Prepare reports and declarations 
Perform complex business valuations under family law rules 
Attend depositions to support opposing witness examination 
Assist in settlement negotiations 
Assess tax aspects of proposed settlements 
Assess issues for trial 
Prepare court exhibits for trial 
Testify as an expert witness in trial, if necessary 
Support attorney in witness cross examination at trial 
Review judgment for accuracy of findings."

"About Forensic Accounting"
Ron J. Anfuso, CPA/ABV
http://www.anfusocpa.com/Questions_and_Articles/What_is_Forensic_Accounting/what_is_forensic_accounting.html

One certification available for forensic accounting is Certified
Insolvency and Reorganization Accountant (CIRA):

"To complete the requirements for the CIRA, the accountant must have
attained at least five years of professional accounting experience. 
These five years must be spent in a public accounting firm and 4,000
hours must be accumulated in insolvency and reorganizational
accounting.  The actual exam for the CIRA is different from any other
certification in the accounting profession.  There are three parts to
the exam.  The areas of concentration are: financial reporting and
taxes; managing turnaround and bankruptcy cases; and plan development
and accounting.  Each part costs approximately $500 and includes an
actual course of study followed by a exit examination.  Each section
is registered for and attempted separately."

"Forensic Accounting Defined"
Scott's Home Page
http://www.concentric.net/~dfillmer/forensic.htm
[Note: A link to this page appears in "Commerce and Business", Our
Future (Newsday), http://future.newsday.com/9/fprob12.htm ]

For even more specific information on requirements, plus an
application and schedule of courses, see:

"AIRA Conference/CPE Information"
Association of Insolvency and Restructuring Advisors
http://www.airacira.org/2cirainfo.html

I hope that this information is helpful.

- justaskscott-ga


Search terms used on Google:

"forensic accounting" "forensic accountant" marriage divorce
"forensic accounting" "forensic accountant" divorce
"certified insolvency and reorganization accountant"
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