Mar 28, 2012
Attorneys involved in matters that require knowing the income of the other party (such as the possible acquisition of a business, a divorce, or in recovering damages) typically rely on the other party’s tax returns and audited financial statements. However, a forensic audit provides a more thorough and reliable calculation of income—particularly when the other side is motivated to overstate or understate it. In this paper, Citrin Cooperman’s Valuation and Forensic Services Practice describes how a forensic audit is different from a conventional audit and how it uncovers true economic income.
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