Forensic audit is similar to tax audit and carried out with the purpose of investigating whether an individual/ group of individuals or a firm is involved in a financial fraud. Financial scams and frauds can be of various nature including money laundering, false insurance claims, financial statement frauds, embezzlements, mortgage frauds to name a few. The ultimate aim of a forensic audit, like other forensic investigations, is to collect evidence to be used in the court of law.
In the recent past, forced foreclosures have been carried out using illegal or forged or sometimes robo-signed documents. Robo-signing is a term used to describe a document that has been attested without the attesting authority knowing about the content of the document. When this fraud was exposed, the whole of the US came to learn about how people were illegally thrown out of their homes by Banks and other money lenders.
Forensic loan audit aims to scan all the loan documents and search for possible presence of loop-holes that may adversely and illegitimately affect the borrower. This is where Auditors and Forensic Analysts come into the picture. These are the specialists who aim to unearth frauds and scams. Certified Fraud Examiners are trained in the understanding of "hows and whys" of fraudulent transactions and documents. They are skilled in multiple disciplines like complex financial transactions and the associated laws and methodologies. Sometimes the frauds are not deliberate; errors can creep into documents and financial statements that can lead a firm into trouble. It is wise to get such analysis carried out and locate the inconsistencies before they take shape of a problem.
Mortgage Audits Online (MAO) is a business-only auditing service provider with a panel of experienced Certified Forensic Analysts. They combine their knowledge of the extant laws and couple it with modern tools to exhaustively analyze your documents and reveal errors and miscalculations. MAO also carries out Securitization Analysis and prepares Voluntary Lien Report for real estate. MAO firmly believes that you can develop greater customer satisfaction in these times of mistrust if you keep your documents error free such that neither your business, nor your customer suffers in the long run. For the past five years, MAO has been doing just that and is the fastest growing mortgage auditing company in the United States.
