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What is the primary function of forensic accounting?

To prepare tax returns

To provide financial advisory services

To investigate financial discrepancies and fraud

The primary function of forensic accounting is to investigate financial discrepancies and fraud. Forensic accountants are specially trained to analyze financial data and identify signs of misconduct, such as embezzlement, financial statement fraud, or money laundering. They often work closely with law enforcement and legal teams, providing expertise in situations that may lead to criminal or civil litigation. This role requires not only strong accounting skills but also an understanding of legal processes and the ability to present findings in a clear and compelling manner in court.

While preparing tax returns and providing financial advisory services are important aspects of accounting, they do not specifically pertain to the forensic aspect of the profession. Calculating asset values, while a component of many accounting jobs, also falls outside the primary scope of forensic accounting, which is focused on investigation and analysis rather than valuation or advisory services.

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To calculate asset values

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