In order for an investigation to be a proper one and meet all
requirements, it is always necessary for the forensic accountant to
provide proper, honest, and accurate written reports to the
management of the company. On the other hand, the accountant can
also provide oral reports to the people who are responsible for
monitoring and supervising the investigation or the people who are
associated with the company and the investigation. One of the most
important and most frequent times when an accountant has to make
an oral report is when the accountant is summoned to testify in court
based on their investigation. When this has to happen, the
accountant is called upon to be an expert witness and they may be
cross-examined by the opposite party. Any statements, findings, and
testimony that are communicated orally are recorded as part of the
court documents. Oral reports can be prepared quickly and only at
the client’s discretion. “If the client either intends to seek
reimbursement for the costs of the fraud and investigation for its
insurance carrier or wishes to refer the matter to a law enforcement
agency for prosecution, the analyst should prepare a written report. If
these issues are not important to the client, but there are concerns
about confidentiality or legal privilege, an oral presentation may
suffice” (Driskell III, 2019). Whether or not an oral or written report
will be conducted will be at the discretion of the client, however: the
accountant needs to always prepare a written statement just to
backup the oral report. Accountants do give oral advice to clients
sometimes whenever they have questions. Accountants have to learn
how to protect themselves by always keeping a backup plan by
recording these transactions or still keeping a written log of the
conversation.
References:
Driskell III, F. Dean. (2019). Conducting Forensic Accounting and
Internal Investigations. pg. 10. Retrieved from:
https://willamette.com/insights_journal/19/autumn_2019_1.pdf
