© D.L. Crumbley
Defensible Investigative Process
The five-step process we use in this study entails:
Defining the question(s) of interest. A forensic accountant hired as an expert must segment a broad legal question (e.g., has fraud occurred?) into inquiries that can be objectively measured (i.e., has lapping occurred in accounts receivable?).
Employing benchmarks that are commonly accepted to address the question(s). Commonly accepted standards are selected for measuring the objective inquiries (i.e., industry average for accounts receivable turnover ratio).
Source: Waldrup, Capriotti, and Anderson, Forensic Accounting Techniques: For Litigation Purposes, Journal of Forensic Accounting, June 2004, p. 5.