ForensicAccounting

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.

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.

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.

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.

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.

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.