Law

Running head : Forensic Accounting

Name

University

Course

Tutor

Date

Forensic Accounting

Question 1

A well designed engagement letter reduces chances of legal exposure when forensic accountants are carrying out accounting services . The following includes the contents of an engagement letter I have prepared . Based on the three key discussions , we have designed the financial statements to meet the requirements of the company . In addition , the statements are meant only for management use and will not be disclosed to any other third party

Although there have

been previous dealings with the client , we do not expect any conflict of interest to occur because we intend to adhere to the Generally Accepted Accounting Principles (GAAP . The client should acknowledge that they are conversant with procedures applied in accounting and any other basic assumptions used when preparing the financial statement , which enables them to arrange the financial information in the right context . In addition , you agree that the usage of the financial information will be limited to specific management personnel having similar knowledge

The financial statements will not be exposed to any person outside the management of the company . If the process of investigation will require computer data mining skills , the company will be duly informed because our data-mining expert is engaged somewhere else . If sharing financial information with a third party is agreed , we will be at hand to discuss the level of service and amount of disclosure . We should consider such agreements as separate and not part of the professional service...