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Is it likely that a local CPA firm will practice matrimonial forensics in many different states?...

Is it likely that a local CPA firm will practice matrimonial forensics in many different states? Why or why not?

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Expert Solution

Matrimonial Forensics is a complex practice because of numerous issues:-

1. Finding hidden income and assets:-

In divorce issues, the chief thing on everyone's mind is to keep alimony amount as low as possible. Hence, people tend to hide income and assets. To uncover, such hidden income and assets it is pivotal to hire an specialist who can investigate such issues.

2.Investigating closely held companies:-

In closely held companies it is very difficult to determine correct valuation because it is not controlled by many and there are massive chances to play with financial statements of the company.

3. Preparation of questions for deposition:-

A CPA will be best able to prepare questions for deposition related to financial matters which will help attorney in evaluation the case in better manner.

4.Reviewing of Income tax returns:-

CPA will be able to determine truthfulness in income tax returns so that no income is concealed.

Since, the matters discussed above are spread across the different states because income can belong to many states.

Therefore, matrimonial forensics should do set up practice in many states.

ekkarill92 answered 2 years ago
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