What is forensic accounting and when is it needed?

Forensic accounting is a specialized area of accounting used to investigate potential fraud, financial irregularities, or disputes. Organizations often engage forensic accountants during crises when financial records need to be analyzed objectively to uncover facts and determine what occurred.

What types of forensic accounting services are most common?

Typical services include internal investigations, asset tracing, financial analysis, expert testimony, transaction due diligence, and fraud prevention. Each engagement is customized to fit the organization’s needs and the scope of the issue.

How quickly should a forensic accounting investigation begin after suspected fraud?

Investigations should begin as soon as suspicions arise. Acting quickly helps preserve evidence, limit losses, and provide clarity for decision-makers. As one PYA professional notes, “If you think a fraud is occurring, you want to get started on that yesterday.”

What happens during the early stages of a forensic accounting engagement?

The process begins with an introductory meeting to understand the problem, followed by an information request and data review. Weekly touchpoints help keep executives and counsel informed as findings develop.

What is asset tracing, and why is it part of forensic accounting?

Asset tracing involves following the flow of money or property to identify where funds have been diverted or concealed. It is often used in complex multi-site analyses or fraud investigations to quantify losses and support recovery efforts.

What kinds of clients typically need forensic accounting services?

Clients include nonprofit and for-profit entities of all sizes. Cases can involve losses ranging from a few thousand dollars to multi-million-dollar investigations, with each situation requiring a tailored, evidence-based approach.

What professional qualifications are important in forensic accounting?

Credentials such as CPA and Certified Fraud Examiner (CFE) reflect training in investigative techniques and financial analysis. These qualifications support the credibility of findings in legal, regulatory, and organizational reviews.

How do forensic accountants help organizations prevent future fraud?

After resolving an investigation, forensic accountants identify control gaps and recommend safeguards that strengthen oversight and reduce the likelihood of future irregularities.

Forensic Accounting Services

In a moment of financial crisis, experience — and speed — matter. PYA’s team of forensic accountants understands the shock, stress, and uncertainty when your company’s financials are questioned, and we’re ready to respond.

Our proven and objective approach helps your executives, board of directors, and legal counsel uncover the facts, knowing urgency is crucial. Whether you’re facing a complex multi-site asset tracing analysis or an issue with a seemingly isolated employee, our experts help you navigate allegations of fraud, financial irregularities, and other financial disputes.

Watch “What is Forensic Accounting? – PYA’s Expertise Explained”

This short video explains how PYA supports litigation and fraud investigations through forensic accounting.

Our Forensic Accounting & Fraud Investigation Services

• Internal investigations

• Asset tracing

• Financial analysis

• Expert testimony

• Transaction due diligence

• Financial fraud prevention

Trusted Expertise in Forensic Accounting

Forensic Accounting Visualization – Financial Clarity and Investigation Expertise | PYA

Expert Forensic Insight When It’s Needed Most

When financial integrity is in doubt, PYA brings the experience, precision, and speed to uncover the truth. We know how to move quickly and deliberately — gathering facts, tracing transactions, and clarifying complex financial data so leadership and counsel can act with confidence. Our forensic accounting team combines technical skill with clear communication, ensuring every finding can stand up under pressure.

Objective Answers That Withstand Scrutiny

As an independent, privately owned firm, PYA is built to deliver conclusions grounded solely in facts, not external influence. Our team applies disciplined methodology to bring transparency and clarity to uncertain situations, whether supporting internal investigations, litigation, or regulatory response. We work closely with executives, boards, and legal teams to present findings that are defensible, documented, and actionable.

Clarity That Extends Beyond the Crisis

PYA views every engagement as an opportunity to strengthen financial oversight for the future. We continually study fraud patterns, control breakdowns, and governance risks to help organizations prevent issues before they escalate. Through our thought leadership and client education, we share practical insights that equip decision-makers to make informed, forward-looking choices long after the investigation is complete.

The PYA Difference

Over our 40-year history, PYA has consistently delivered high-value advisory services to our national client base. Our team is deployed to develop custom plans using proven approaches and work plans.

Independence

Private ownership means we answer only to our clients, not to third-party investors, giving us the freedom to be thorough and thoughtful in our work. We judge our success by our clients’ success.

Relationships

We value long-term relationships and work hard to maintain them. Our commitment to client relationships and the communities we serve remains constant.