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Forensic Services • Frashëri Law Firm

Forensic Services

Forensic Accounting, Fraud Detection & AI Investigations

Our professionals carry out an in-depth analysis of a company's financial statements, using their accounting, auditing and investigative expertise. By using the AI Platform in the Legal Profession we have the advantage over most other firms to read and form on real time a conceptual understanding of documents, risk and fraud, tagging a range of key information and highlighting areas of risk or opportunity to improve and accelerate a range of investigations, arbitrations and litigation, through our platform e-Discovery. Also, through the use of our e-Diligence platform we are able to automatically identify anomalies present in your data room and categorize them by severity, type and number, allowing accountants and lawyers to highlight critical findings early and prioritize their review effectively.

The Team offers assistance to resolve disputes between shareholders in relation to financial results, suspected fraud and negligence in corporate governance. Our professionals detect fraud, uncover losses, analyze data and prepare reports suitable for evidentiary use.

Using our plug-and-play cloud platform, accountants and lawyers can start their first case with the Luminance AI Platform in less than 30 minutes, without machine or user training. This enables instant insight into over 1,000 legal concepts including contract terms, clauses and governing laws.

Forensic Accounting and Fraud Detection

Forensic accounting also known as financial forensics is a specialty practice area of accounting that describes engagements that result from actual or anticipated disputes or litigation. We, having the advantage of having the right to use the Artificial Intelligence Platform in our profession, which we highlighted above, are able through Discovery to help investigate fraud or financial embezzlement, as well as to analyze financial information for use in legal proceedings by performing a forensic examination in real time and with very high accounting accuracy. As per the Oxford dictionary reveals, forensic accounting means the use of accounting skills to investigate fraud or embezzlement and to analyse financial information for use in legal proceedings. Forensic accountants are also referred to as forensic auditors or investigative auditors, often have to give expert evidence at the eventual trial.

Forensic analytics is a four-tier procedure which start with data collection, proceeded by data preparation, quantified with data analysis, and concludes with reporting and court proceedings.

Frashëri Firm’s methodology for forensic accounting is a tri-dimensional approach in which we ensure:

Prevention

Steps-up your financial security and avoids loopholes through an active vigil mechanism.

Detection

Ensures primary and precise fraud detection with use of various analytical techniques from different disciplines.

Investigation

A hybrid approach that combines multiple methods to look beyond the pre-defined norms and fix the loopholes.

Our Forensic Service Canopy

  • Anti-Fraud Vigilance: Helping companies prevent fraud or minimize its losses by finding and plugging loopholes in the internal audit and control system at a elementary stage.
  • Financial Forensic: Utilization accounting, auditing and investigative skills to analyze a company's financial statements for possible fraud in conjunction with anticipated or ongoing legal action.
  • Digital Forensic: Screening of digital devices, including mobile, computer and laptop, to find and audit unusual mails and documents that can point out a fraud.
  • Data Analysis: Identify odd-lot financial transactions by use of data analytics tools and software to inspect and resolve frauds.

Coverage Areas

  • Corporate fraud
  • Employee fraud
  • Cyber crime
  • Identity theft
  • Money laundering
  • Forged instruments
  • Inappropriate accounting
  • Diversion of funds
  • Hacking
  • Technological frauds
  • Transactional frauds

Finally, ‘forensic auditing’ refers to the specific procedures carried out in order to produce evidence. Audit techniques are used to identify and to gather evidence to prove, for example, how long the fraud has been carried out, and how it was conducted and concealed by the perpetrators. It is very important to keep in mind that by having the right to host and exclusivity of use of the Artificial Intelligence Platform in the Legal Professions, we have the superior advantage over all other firms in discovering evidence as a result of fraud, forgery or errors created by omission or mistake in a company's financial documentation.Evidence may also be gathered to support other issues which would be relevant in the event of a court case. Such issues could include:

  • Suspect’s motive and opportunity
  • Collusion between suspects
  • Physical or documentary evidence
  • Statements during interviews
  • Attempts to destroy evidence