Financial fraud is an unwanted but possible and existing mishap. They can damage the reputation of an entity and put them under material loss. Do you wish to investigate some financial fraud thoroughly? Forensic procedures are a top-notch solution to that. Fortunately, plenty of forensic accounting firms are constantly growing and providing solutions.
Forensic accountants use a combination of skills like auditing, accounting, and investigation to look deeply into financial crimes and embezzlement. This area of accounting is based on the principles of accounting. Still, at the same time, the application of these principles is made with an investigative mind, usually after a fraud.
Do the big 4 have a forensic accounting division?
The answer is yes. The big four accounting firms (E&Y, Deloitte, PricewaterhouseCoopers, and KPMG) all have internal forensic accounting divisions. For example, in the case of India, these big 4 audit firms are on the panel of the Indian Bank Association for forensic audits of frauds in banks.
We will explore the world of these firms to help you detect financial fraud and consult a suitable solution. Let’s dive into the eight most efficient forensic accounting firms of 2022 that deliver optimal results.
Top Forensic Accounting Firms of 2023
These are the top forensic accounting firms that might help eradicate material fraud in a company.
1. MDD
MDD, founded in 1933, is now a large company with just over a thousand employees. It is regarded as one of the leading international companies offering multiple services to its clients. It has a diverse range of multilingual and diverse staff that shows how the company is open to talent from across the world.
This firm has over 40 offices in different locations of the world. Plus, they pay you a tremendous amount of money so if you have the qualification and talent, consider starting a career at MDD.
Their key clients revolve around companies from finance, accounting, logistics, retail, healthcare, manufacturing, and even governmental departments. They mainly focus on small businesses with less than $10 million net worth and medium ones ranging from $10 million to $1 billion.
2. Veriti Consulting
Veriti Consulting is a relatively younger forensic accounting firm constantly growing because of its top-notch services. It operates throughout the United States of America, providing consulting services to medium and large businesses.
It investigates fraud, detects economic damages, and provides a solution to help companies maintain safety. Their key clientele revolves around the finance and accounting sector, but you will find them expanding to health, government, and logistics.
Veriti consulting does not pay much compared to MDD and others, but it is a great place to achieve growth and polish skills to a whole new level. We can say that this firm is one that people join for experience, not money.
3. Schneider Downs
Schneider Downs is an excellent option for account and finance professionals looking to earn good money and grow massively. It was created in the 1950s and is now the fourth-largest accounting advisory firm in Western Pennsylvania as of 2022.
They offer over 80 (and growing) services from assurance, technology, finance, and corporate departments. They also publish regular blogs on security on their website to keep non-clients aware of their surroundings. The focus is on boosting employee morale and elevating their skills to a new level. They plan to offer their services and open more offices in different regions across the globe.
4. RiskPro
The RiskPro is a pride for Indian account and finance enthusiasts. It provides services related to risk management, asset management, company operations, and security measures through professional services. Whether you are looking for an investigation or preventative measures, RiskPro will provide you with. The company was founded in 2008 and is known for its high wage (according to the Indian community), so professionals can make good earnings for themselves. They like to call themselves the pioneers of forensic accounting in India. They currently target small to medium businesses with services in various sectors, such as retail and finance.
5. Fiske & Company
Fiske & Company is an independent member of the BDO Alliance USA. This forensic accounting firm is rated among the topmost service providers in the market. Apart from risk management and investigation services, users also get audit and tax services for their clients.
It has grown since 1972 and offers reasonable compensation and career growth options. They cater to all types of businesses. Whether you have a small business or something significant with global expansion, Fiske & Company knows how to tackle its risk.
It is in Florida and is a female-owned setup that also focuses on equal employment opportunities without gender biases. So, if you are an aspiring female account professional, choose Fiske & Company.
6. Thomas Howell Ferguson
Established in 1993, Thomas Hall Ferguson is a high-performing forensic accounting firm known for its responsive attitude and highly professional staff. Around 100 employees in the company are known for their problem-solving skills and instant response. Their primary focus is on insurance providers, governmental departments, small businesses, NFP organizations, and general product-based businesses.
Clients are also subjected to tax, audit, and consultation-related services if needed. Thomas Hall Ferguson mainly focuses on serving small to medium-sized businesses, but the company is an absolute haven for people looking for growth and good earnings. However, getting inside is mandatory to have relevant degrees and experience. Thomas Howell Ferguson has offices in Tallahassee and Tampa.
7. Miller & Company LLP
Miller & Company LLP has been around for over 25 years (2022). They are based in Miami, Florida, and are known for outstanding services in forensic accounting. It is a well-paying company that creates a comfortable working environment for employees.
Apart from this, they focus on delivering top-class consultation and avoiding company risks at all costs. They are also keen to see businesses succeed, providing solutions and steps to meet financial goals. If you have a large corporation, Miller & Company LLP would love to take care of it in the long run. Their focus is on e-Commerce, retail and financial services.
8. Tose Tech. LTD
This Kenya-based forensic accounting firm is more focused on delivering tools that users can implement in the business and avoid any risk of fraud. Their service is based on AI that provides maximum accuracy and maximum convenience. Apart from this, the service also focuses on customized algorithms so that the clients are satisfied and do not need to pay anyone extra.
Key Takeaways
Forensic accounting firms are hired by businesses worldwide to detect fraud and any unusual activities. This article talked about the most in-demand forensic accounting firms from around the world. Remember that their reputation in the business world can change based on services.
