Internal Audit
Forensic Accounting
Since 20179 Since 2017
- Evidence that holds up
- Discreet handling
- Court-ready reporting
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Tell us what prompted the question and we will tell you what an audit would actually examine.
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In one line
What happened, traced through the records to a standard that survives a dispute.
Overview
What it is for
Vigor's forensic accounting division includes over eight chartered accountants and experienced staff who provide customized solutions to suit the client requirement. Our team will help you conduct the most difficult investigations and provide guidance on what corrective action should be taken. Our services are for fraud detection, complex financial investigations and Regulatory Inspections.
- 5,000+
- Clients served
- 75+
- Professionals in Business Bay
- 9
- years, since 2017
This one is usually asked for after
01
Money is missing and the explanations do not reconcile
02
A partnership, a shareholder or a supplier relationship has gone to dispute
03
An insurer or a court needs the accounting evidence assembled properly
Scope
In scope
Forensic and Special Audit
Detail
Accounting Litigation Support
Litigation and Arbitration procedures are commonly faced by the organizations for their accounting. Vigor's team can support throughout[asset sales and leasebacks] these processes including contractual disputes, loss quantification as well expert witness services.
While internal audit is an important line of defense, the nature of its multiple limitations (e.g., sampling and quantitative materiality limits) incurs some risks that routine audits may not always detect financial abuses. Our experts have the skills and experience to be able to identify material financial statement frauds due to fraudulent activities, or other forms of financial crime
The company's special audit team is experienced in auditing under various conditions and structure, covering all types of companies. The objective and purpose of the special audit are subject to agreement with the client. Year-end audit (in its classical sense) plus several more types of audits that might become necessary during the business lifecycle When it comes to the sort of audit you need, leave it with Vigor as our main focus is result-oriented and efficient auditing.
- 01
Special Audits
Special audits are conducted if there is suspicion of legal or regulatory violations in an organization's financial management. This could also be an investigatory audit to look into the matters of duties, responsibilities and authorizations of staff in their day-to-day life office work as well control over internal guidelines. When corporations reorganize or when they go through bankruptcy, special audits are often needed that take on the advisability of relevant advisory boards.
- 02
Get the detail for our Special Audit Services here
To learn more about how our forensic accounting solutions can help to serve your organization, please feel free to reach out to Vigor!
Special company-law audits (for incorporations, reorganizations and divisions; remaining-asset audits)
Audits of the reports concerning the application of national and European funds
Examinations of Going-concern Reports
Diversity Audits
Performance Audits
Detail
Investigating Net Worth Analysis
Our experts examine financial profiles in various ways and methods to evaluate income as a record, financial account statements, tax returns etcineraries. They also use databases that are in the public domain to profile individuals such as real-estate property, businesses and consumer profiles across specific geographies or areas - zeroing on tax fraud/crimes-of-lifestyle (lifestyle audits).
Why it matters
When forensic accounting is the right call
What happened, traced through the records to a standard that survives a dispute.
Vigor's forensic accounting division includes over eight chartered accountants and experienced staff who provide customized solutions to suit the client requirement. Our team will help you conduct the most difficult investigations and provide guidance on what corrective action should be taken. Our services are for fraud detection, complex financial investigations and Regulatory Inspections.
- Money is missing and the explanations do not reconcile
- A partnership, a shareholder or a supplier relationship has gone to dispute
- An insurer or a court needs the accounting evidence assembled properly
How it runs
From terms of reference to follow-up
Phase 01
Scope and terms of reference
What is being examined, what it is being measured against, and who receives the findings. Agreed in writing before anything begins.
Phase 02
Walkthrough and testing
The process as documented, the process as performed, and the gap between them. Sampled where volume makes full testing pointless.
Phase 03
Findings and management response
Every finding rated and put to management before it is written up, so the report contains the answer as well as the problem.
Phase 04
Report and follow-up
A report the board can act on, with owners and dates against each action, and a follow-up to confirm what actually changed.
Phase 1 of 4
Scope and terms of reference
Risk, mapped
Where your exposure actually sits
Where do your risks actually sit?
The five by five an audit committee reads. Likelihood across, impact up. Tap the squares that describe your business and the panel says how each one would be handled.
Likelihood
- One person can raise and approve a payment
- Bank reconciliations are behind
- Supplier bank details changed by email
- Access to the accounting system is never reviewed
- Stock counted once a year
- No documented approval limits
Common findings, for orientation. Yours will differ.
Highest band selected
0Nothing selected
Tap the squares where your own risks sit. Nothing is stored and nothing is sent.
The grid is the standard one an audit committee already uses. Where a risk sits on it is your judgement, not a rating of your business, and nothing you tap leaves the page.
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Answers
Questions asked before an internal audit starts
The 6 asked most often about Forensic Accounting.
01Is forensic accounting mandatory for UAE companies?
No, forensic accounting is not a standing legal requirement in the way VAT or corporate tax filing is. It becomes necessary when there is suspicion of fraud, mismanagement, or a legal or regulatory violation within an organisation, or when a shareholder, lender, or authority requests an investigatory review of the accounts.
02How much does a forensic accounting investigation cost?
There is no fixed fee, since the scope depends on the size of the organisation, the period under review, and the nature of the suspected irregularity. Forensic and special audit work is quoted after an initial discussion of what needs to be investigated and the records available.
03How long does a forensic accounting investigation take?
The timeframe depends on the volume of transactions involved, the complexity of the suspected issue, and how accessible the underlying records are. A narrow review of a specific transaction pattern can be quicker than a full investigation spanning several years of accounts.
04What triggers the need for a special or forensic audit?
A special audit is typically triggered by suspicion of legal or regulatory violations in an organisation's financial management, such as suspected fraud, misappropriation of funds, or irregular reporting. It can also be requested by shareholders, management, or regulators wanting an independent investigation of specific concerns.
05What documents are needed for a forensic accounting review?
Reviewers generally need the general ledger, bank statements, invoices, contracts, payroll records, and any correspondence relevant to the suspected issue, covering the period under investigation. Every UAE company is required to keep accounting records for at least five years, which supports this kind of review.
06What is the difference between forensic accounting and a regular audit?
A regular audit gives an opinion on whether financial statements are fairly presented, while forensic accounting investigates a specific suspicion, such as fraud or a regulatory breach, often with a view to evidence that could support legal action. Vigor's forensic accounting service is structured around this investigatory purpose rather than routine assurance.
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