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Asset Tracing

Asset tracing is a complex accounting service, and can be useful for a variety of reasons. At Weyrich, Cronin, & Sorra, we offer high quality financial forensic investigations, to help you understand how the assets were handled and exactly where they were moved. These services can be beneficial for both businesses and individuals, and our goal is to cater the services based on your individual needs.

What is Asset Tracing?

A forensic accountant can trace assets through analyzing, interpreting and summarizing financial information to provide clarity on the use of funds or other types of assets. In addition to investigating and analyzing, a forensic CPA can also help with the presentation of the applicable information in the form of reports, collection of documents, and exhibits. The CPA can also be of assistance in legal proceedings, such as stepping in as an expert witness to testify in court.

Asset tracing in Maryland can be challenging, especially for someone who doesn’t have experience with forensic accounting. If you want the best outcome for your investigation, then it is important that you hire a forensic accountant who has hands-on experience with asset tracing.

When is Asset Tracing Needed?

There are a wide range of circumstances when a forensic accountant can be helpful. These services are often used in situations when fraud is suspected or anything that involves financial business disputes. By tracing the assets of the company, it is possible to detect potential wrongdoings that might have occurred, and even recover the funds.

Our experienced forensic team will study financial records such as purchase orders, ledger accounts, bank statements, cash receipts, electronic payment data, and cancelled checks. By investigating the transactions that have occurred, it is possible to identify variances between invoices and the actual payment as well as any unusual activity that might signal fraud.

We also work with clients who are going through divorce, to ensure that all financial assets have been accounted for in the divorce. Sometimes, one spouse might intentionally leave information off the financial disclosure statement, or there might be questions about the total marital assets that need to be divided. Through asset tracing, we can help you uncover financial details, and this information can be used by your attorney during the divorce proceedings. This becomes extremely important when substantial assets are brought into a marriage. A common misconception is that all assets are divided 50\50 in a divorce, however Maryland is an equitable distribution state.

This means that courts will consider the parties respective balance sheets entering a marriage and take this into consideration if traceable when dividing 401(k) plans, real estate, business and investment accounts. We have recovered millions of dollars over the years through this process of tracing pre-marital assets.

Asset Tracing in Maryland

for Your Business or Divorce Proceedings

Whether you need to trace business assets or you are looking to uncover details about your spouse’s financial activities, an asset tracing CPA  can help. Contact us today at Weyrich, Cronin, & Sorra and we will gladly discuss your situation and provide the accounting expertise that you need.