Services

Business, accounting and tax forensics

The emphasis is on business, accounting and tax forensics, especially on detection of fraud and theft within the systems.

Forensic accounting is a new, specialized advisory activity that deals with investigation, proving and prevention of economic fraud and other illegal activities. Forensic accounting has its roots in investigating illicit activities (fraud) that has always been present in the history of business economics.

Forensic accounting deals with detection of three basic areas of frauds:

Corruption is manifested trough conflict of interest, bribery, illegal remuneration, and economic impacts.

Alienation of property are various forms of stealing the assets, as well as fraud during asset sales, irrelevant of its condition: tangible assets, intangible assets of financial assets.

Forgery of financial statements is found within the area of financial forgery as well as non financial forgery of statements for the purposes of owners, board members, banks, state, buyers of suppliers.

In addition, all other forms of damage are analysed based on the needs and requests of the client, such as frauds of buyers and suppliers, fraud in doing business, money laundering, and similar.

The most common activities that business forensics and forensic accountants perform are: detection of forgery of financial statements, detection of frauds or intention of fraud, detection of tax evasion, detection of fraudulent bankruptcy, appraisals of business transactions of assets, division of assets to co-owners, errors and negligence, forgery of documentation, detection of theft by employees, appraisals of the financial position of present and potential business partners, etc.

As per taxes, forensics determines tax evasion, fraud in system of tax calculation etc.

Forensics aids management to accomplish legal compliance, i.e. acting in line with legislative provisions. Forensics is also involved in various investigations after regular or outstanding audits detected indications of frauds in business-financial transactions.

After the investigations are performed, a report is compiled and presented to the client on the findings that can be used for internal needs as well as groundwork to the lawyer for further action.

Appraisals of companies, assets and liabilities

In all social segments, there is a permanent need for the appraisal of the economic value of a company, land, buildings, patents, financial assets, financial and other liabilities as well as other types of assets and liabilities of legal and physical persons.

The process of appraisal requires the engagement of qualified and experienced experts of different profiles. The entire assessment process must be led by certified appraisers, who are trained to define the objectives of evaluation as well as to apply appropriate approaches and assessment methods, in order to achieve the high credibility of the established fair value of the object of assessment.

That requires objective and impartial assessment of the interest of all parties involved who use the results of assessment. In all evaluation processes the certified appraisers are leaders of a appraisal team composed of qualified lawyers, economists, construction engineers, mechanical engineers, technology engineers, geodesy engineers and other professions, depending on the characteristics of the business entity that is subject to the appraisal.

Certified appraisers base their appraisals on comprehensive methodology with various models depending of the aim of appraisal procedure. Such methodology is based on definitions and recommendations of International Appraisal Standards and therefore is transparent for foreign clients.

Court expertise for finance and taxes

The Court appointed expert is a top expert selected by the court from a list of court-appointed experts in the court proceedings, with independent and expert opinion in accordance with the given task, helped to clarify the circumstances on which the court has no expertise.

The work of the court expert is independent, highly qualified, and shall always be in accordance with the task, defined by the competent authority, usually a judge.

Also, the expert may be hired for jobs by the opposing side for the expertise, in which case he participates in the defence team, preparing groundwork for lawyers.

Audit

We provide services of commercial audit in accordance with Audit Act for the purposes of clients, including verification and evaluation of financial statements and consolidated financial statements of audit clients, audits of capital increase, as well as other activities stipulated by Companies Act and special legislation.

Organisation

We provide restructuring services for accounting and financial sectors in a way that after the initial due diligence of conditions in department we propose different organisational structures adequate to the size and business nature of the company.

Licences