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Financial Forensics Body of Knowledge, + Website by Gregory A. Gadawski, Darrell D. Dorrell

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CHAPTER 3

Data Collection and Analysis Phase: Part I

This chapter initiates the data collection and analysis tasks within a forensic assignment. This phase often represents the largest proportion of time, money, and related resources within a forensic assignment. This typically reflects the large amount of data and the commensurate analytical tasks. Accountants sometimes try to shortcut an assignment by immediately launching this phase since they are often more comfortable with the numbers. Such impulsivity is usually counterproductive, and merely an impetuous response to the dictum, “Not knowing what to do, one does what one knows.” Consequently, the distinction between effort and results is blurred. Therefore, forensic operators starting with this phase are counseled to reconsider the prerequisite phases, that is, foundational and interpersonal.

Proceeding through the various stages arms forensic operators with a significant array of tools, techniques, methods, and methodologies previously unknown to many. The sheer number of such tools reinforces the essential need for a methodology within which to capture and apply them to forensic assignments’ respective unique facts and circumstances.

DATA COLLECTION STAGE

Purpose of Stage

This action formally defines the data collection plan based upon previously completed stages, such as behavior detection and background research. It permits the forensic operator to subsequently launch data collection efforts and initiate analysis commensurate ...

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