Forensic Accounting
& Litigation

Our Founding Partner, Casey Young, CPA, uncovered one of the largest Ponzi Schemes in West Michigan during 2009 in approximation of $80M.

As part of uncovering the activity, Stonehenge was engaged to supply tax and accounting services as part of the engagement. Soon after the engagement began the complexities to the client unraveled.

Federal Authorities from multiple levels were involved that Casey assisted with documentation and analysis on behalf of the Government. This case has been used in many seminars for tax return preparation related to casualty losses.

Casey has also uncovered numerous cases of employee, officer, shareholder and member embezzlement. Another name that is not commonly used is conversion of funds and is a form of embezzlement.

He has been party to and expert for numerous cases that eventually settle before mediation or trial.

A fraud triangle is very easy to follow once you begin to pull the loose thread.

5 Key Traits of Forensic Accountants

• Attention To Detail

• Tech Savvy

• Integrity

• Patience

• Problem-Solving Skills

Forensic accounting is a specialized field of accounting that combines the profession with forensics in order to uncover financial crimes such as money laundering, embezzlement, tax fraud and more. Students interested in this career path should understand the common characteristics of a forensic accountant. Students who possess these characteristics are likely to make good future forensic accountants.

• Attention To Detail
  Forensic accountants must have an extremely strong attention to detail. They must be able to analyze significant amounts of financial data and notice subtle patterns or other abnormalities in that data. They cannot afford to overlook details because any one small detail may determine the outcome of a case. Any occupation that requires working with numbers requires strong attention to detail, but this one does more so than most.

• Tech Savvy
  It should go without saying that forensic accountants need to have vast knowledge of technology and software products. This includes most accounting programs commonly used by businesses, such as QuickBooks, as well as technology and software tools that forensic accountants use to uncover fraud. Much of their job is spent on computers and other devices to detect and analyze fraudulent financial data. As technology becomes more advanced, forensic accountants will need to keep up to remain as knowledgeable as the individuals committing financial fraud they seek to uncover.

• Integrity
  Forensic accountants often must pass background checks and be eligible for certain levels of security clearance, according to PayScale. They have to be honest and dependable because of the sensitive nature of their work. Some forensic accountants work as private consultants and constant and consistent honesty and integrity is one of the best ways to gain clients. Becoming a Certified Public Accountant (CPA) is one very important way to showcase integrity and professional dedication.

• Patience
  Financial crimes are not always readily apparent, making one of the biggest forensic accountant characteristics a great deal of patience. Traces of fraud are often very well-hidden and forensic accounting investigations can move incredibly slowly. This requires patience to avoid getting frustrated and attempting to usher the investigation along. The patience to look at everything and pick out every detail makes a stronger forensic accountant because they are likely to build a stronger case when they do.