General Forensic Accounting Questions
Q: What exactly is forensic accounting?
A: Forensic accounting blends accounting, auditing, and investigation into one highly focused discipline. It's about following the money—where it went, why it went there, and whether that story holds up. Blake Files digs into the numbers to uncover irregularities, trace missing funds, and make sense of suspicious transactions—delivering clear, evidence-backed findings.
Q: How is forensic accounting different from a regular audit?
A: Audits check for material misstatements, often using sampling and standardized procedures. Forensic accounting isn’t about checking the box—it’s about solving the puzzle. It focuses on specific allegations or red flags, dives deep into questionable transactions, and documents what actually happened. If an audit is a snapshot, forensic accounting is the crime scene reconstruction.
Q: How long does a forensic accounting investigation typically take?
A: It depends on the mess—and how deep it runs. A limited-scope engagement (e.g., reviewing six months of bank activity) might require 15–30 hours. Mid-size divorce or fraud cases with 2–3 years of records typically run 40–80 hours. Complex matters spanning multiple accounts, businesses, or years may take 100+ hours. A realistic estimate is always provided after reviewing the facts during the initial consultation.
Q: Do I need a forensic accountant if I already have a CPA or regular accountant?
A: If things are routine, your CPA is the right call. But when the stakes involve fraud, divorce, litigation, or high-conflict disputes? That’s a different game. Forensic accountants are trained to investigate—not just report. Blake Files focuses solely on forensic work, with tools and training to follow the money.
Service-Specific Questions
Q: What information is needed to start a forensic investigation?
A: The starting documents vary, but most cases begin with bank and credit card statements, tax returns, accounting records, and any legal or financial correspondence. After the consultation, a tailored request list is provided. All documents are submitted through a secure client portal to ensure confidentiality and easy access.
Q: Can a forensic accountant determine if someone is hiding assets?
A: That’s one of the most common questions—and one of the most complex. While no one can promise that every hidden asset will surface, the methods used at Blake Files are designed to spot red flags, inconsistencies, and suspicious patterns. Lifestyle analysis, transfers to third parties, sudden debt repayments, and unexplained spikes in spending are all clues worth following.
Q: Does Blake Files provide expert witness testimony?
A: Yes. With a background in IRS financial investigations, Blake Files offers court-ready analysis and expert witness services. Reports are prepared with litigation in mind and structured to explain complicated financial matters in plain English—for judges, juries, or mediators.
Q: How is confidentiality maintained?
A: Every case is handled with strict confidentiality. Secure upload portals, encrypted files, and locked-down internal processes are standard operating procedure. Engagement letters outline confidentiality obligations clearly. Financial matters are sensitive—protecting client privacy is non-negotiable.
Cost and Engagement Questions
Q: How much does a forensic accounting investigation cost?
A: Pricing depends on the size and scope of the job. The hourly rate varies between $325 to $550, and total cost is tied directly to how many hours are needed to meet the case objectives. Smaller engagements typically fall in the $5,000 to $10,000 range; complex or multi-year cases may require significantly more. A retainer is required up front, and clients receive progress updates with detailed time tracking throughout the process. Some cases are offered a flat-fee basis.
Q: Is a free consultation available?
A: Yes—a complimentary 30-minute consultation is offered to discuss your situation and determine if forensic accounting is a good fit. It’s a pressure-free conversation where you’ll get a realistic view of the process, costs, and next steps. Appointments are available by phone, Zoom, or in-person for clients near Roanoke.
Q: What sets Blake Files apart from other forensic firms?
A: Most forensic accountants haven’t worked inside the IRS investigating unreported income. Blake Files has, with well over 300 cases completed. That background means better instincts, sharper tools, and a no-nonsense approach to getting answers. The practice doesn’t dabble in tax prep or bookkeeping—just focused, high-stakes forensic work built for legal settings.
Q: Can Blake Files work with my attorney?
A: Absolutely. Many cases come through attorney referrals, and collaboration with legal teams is common. Blake Files provides financial analysis tailored to legal strategies, prepares expert reports, assists with discovery, and can serve as an expert witness when needed. Attorneys appreciate working with forensic accountants who have experience.