The Rise of Forensic Accounting for Small Businesses with Grigsby Forensics and Valuation
Las Vegas, NV - Forensics is the application of science to criminal and civil laws, but it isn't only reserved for the criminal justice system or true crime television shows. This science has a prominent place in the accounting world and has helped millions of individuals and their businesses continue to succeed. Forensic accounting is the use of accounting skills to find any fraudulent or corrupt practices within a business. By evaluating records of taxes and business dealings, forensic accountants can detect embezzlement, misplacement of funds, and corruption. Forensic accountants use their auditing abilities and investigative skills to determine what causes suspicious financial activity. This is crucial for business owners that are dealing with several issues in their business such as a tax audit, suspicious employees and managers, or personal legal dealings. Businesses use forensic accounting as credible evidence in trials and/or to recover losses from a scam.
Running a business is difficult enough without worrying about impropriety issues. Even the most successful businesses may lack key internal controls. That very lack of internal controls is the root of all fraud. Grigsby Forensics & Valuation is a forensic accounting firm out of Las Vegas, Nevada that specializes in litigation support and consulting, business valuations, forensic accounting, investigation and fraud risk assessments, business valuation, business planning, and IT consulting and technical audits. Grigsby's expertise has enabled countless businesses to find potential misappropriation of assets, which is often just the tip of the iceberg.
Charles Grigsby, founder and head CPA of Grigsby Forensics and Valuation, has over 40 years of experience as a public accountant and business advisor. Throughout Mr. Grigsby's life, he has always established himself as exemplary in his field. He was a field auditor for the Internal Revenue Service, specializing in the investigation of tax fraud of commodity traders and other major business entities. With this entrepreneurial spirit and substantial certification and accreditations, he prides himself in providing clients with definitive experience, expertise, and knowledge to help them make the best decisions for their business.
Grigsby's forensic expertise can help mitigate the damage done to a business, whether it be a result of embezzlement or loss. With Charles's thorough experience within forensic accounting, he can seek out the source of loss and determine the correct action. Over the years, the Grigsby firm has provided clients the clarity and evidence they need to protect their business through a specific methodology. It starts with analyzing the business's internal control system to determine its ability to avoid risk. Then they focus on properly analyzing the physical evidence and applying the most up-to-date methodologies and fraud risk assessment tools. The evidence is investigated to determine whether it is an issue of employee collusion, vendor collusion with employees, supervisor misuse of authority, or bookkeeper procedures without appropriate segregation of duties. The Grisby team will determine the appropriate revenue by analyzing purchase activity to establish the gross margin level.
Forensic accounting is an invaluable resource for small business owners to investigate fraud and analyze financial data for litigation purposes. Forensic accountants bear an important role in their commitment to educating small business owners on ways to prevent and detect financial fraud. To work with Grigsby Forensics & Valuation, visit https://grigsbyvaluation.com/
Grigsby Forensics and Valuation
8020 W Sahara Ave. #205