What does the typical client onboarding process look like?
- Initial Consultation: An initial conversation to define engagement scope and objectives.
- Conflict Check: Before accepting any engagement, we conduct a conflict-of-interest review to ensure independence and objectivity. If a conflict exists or could arise, we will disclose it promptly and decline the engagement as appropriate. You can submit information through our website for us to complete this check here. You can also call or email with the relevant party names and your contact information.
- Engagement Letter: We will provide an engagement letter for review and execution as part of retaining Aletheia Financial Forensics, LLC. These agreements are typically signed by an attorney at a law firm, with payments due from the end client either directly or through the attorney’s firm. We typically provide services in phases and can provide estimates by phase.
- Retainer Payment: We must receive the retainer payment outlined in the engagement letter before analysis will begin. Retainer amounts start at and are typically $5,000.
What is forensic accounting and how does it differ from traditional accounting or auditing?
- Forensic accounting applies accounting, auditing, and investigative techniques to analyze financial matters that may be disputed, complex, or subject to legal scrutiny. Unlike traditional accounting or auditing, forensic accounting is specifically designed to identify irregularities, reconstruct financial activity, quantify damages, and present findings in a manner that can withstand cross-examination in court or arbitration.
Do you work directly with businesses or only through attorneys?
- We work with both attorneys and business representatives. In many cases—especially when litigation is involved—engaging a forensic accountant through legal counsel is advisable. We are happy to discuss the most appropriate engagement structure for your situation.
What documents and information will you need to get started?
- The specific documents depend on the engagement, but commonly requested documents include bank statements (including front and back of checks), income tax returns, accounting records, and financial statements (e.g., balance sheets and income statements). We work with clients and counsel to identify what is necessary and avoid unnecessary document production whenever possible.
How long does a forensic accounting engagement typically take?
- Timing varies based on the scope of work, complexity of the financial issues, volume of data, responsiveness of information sources, and our availability. Some targeted analyses may take a few weeks, while more complex matters can take several months or more. We discuss timing expectations early and provide updates throughout the engagement.
Will my confidential information be kept confidential?
- Yes. All client information is handled with strict confidentiality and professional care. When matters involve litigation, confidentiality is governed by the engagement terms, applicable laws, and court rules. Secure methods are used for data storage and document exchange.
Do you serve as an expert witness and testify as needed?
- Yes. James H. Rumph, who is a Master Analyst in Financial Forensics (MAFF), is our testifying expert, preparing all expert reports and available, trained, and experienced in providing deposition and trial testimony. We also assist attorneys behind the scenes as consulting experts when testimony is not necessary or desired.
Do you provide forensic accounting services on a contingent fee basis?
- No. Our professional standards do not allow for contingent fee basis forensic accounting services.
The above content is intended to provide quick reference. If you have questions specific to your matter or not clarified above, we invite you to contact us at contact@aletheiafinancialforensics.com or (380) 238-8434 or book a confidential consultation.