What do you do if you suspect your accountant is being too creative with the numbers?

If you suspect creative accounting: 1. Check Financials: Review statements for inconsistencies. 2. Seek Clarifications: Ask your accountant for explanations. 3. Independent Audit: Hire an auditor for a second opinion. 4. Understand Methods: Learn about the accounting techniques used. 5. Assess Controls: Ensure strong internal controls are in place. 6. Get Legal Advice: If fraud is suspected, consult a lawyer. 7. Change Accountants: If trust is broken, consider hiring a new accountant.

1. Limit the access to the system. Isolate the work. 2. Take the ledger and review each entry for inconsistency, preferably comparing with physical document. 3. Engage an independent auditor immediately. 4. Organize comparable to trace the numbers.

If you suspect your accountant is being too creative with the numbers: - Ask for detailed explanations and documentation for any questionable entries. - Review financial statements and records yourself carefully. - Consider getting a second opinion from another accountant. - Report any unethical or illegal activities to the proper authorities. - Be prepared to find a new, trustworthy accountant if misconduct is confirmed. It's crucial to get to the bottom of any suspected unethical accounting practices and take appropriate action to protect yourself and maintain financial integrity.

Verifying the numbers is one of the critical tasks of the supervisor or the manager. Some of the control measures here could be:- 1. Have limited access to the system for the accountant and only permit access for what is required. 2. Regularly monitor the work. 3. Be a financial detective and never trust anyone. 4. Have monthly closing procedures like reconciliations, GL closing and bank recons to detect any fiddling with numbers.

If you suspect your accountant is being too creative with the numbers Here's what you can do: 1- Collect any supporting documentation or evidence that raises your suspicions this can include financial statements transaction records and any other relevant information that indicates potential manipulation or fraudulent activities. 2- Conduct a thorough review of the accounting records and financial statements look for any inconsistencies, unusual patterns, or discrepancies that may indicate manipulation 3- If the suspected creative accounting practices involve fraud consult with legal counsel to understand your rights. Remember, it is important to approach the situation objectively and follow proper procedures to ensure a fair investigation.

A few years ago, I noticed some numbers in our financial statements didn’t add up. After asking the accountant for clarification and still feeling uneasy, I got a second opinion. The new accountant found errors that could’ve caused tax issues, and we fixed them in time. It taught me to trust my instincts and review finances closely.

The accounting standards and principles are always to be essential. It's essential for every company to follow the standards and principles which the company relates to as well as which relates to the current situation

Still, if you?suppose?your accountant is?too?creative?with?figures, it's?important?to?communicate?them?directly?about your?business.?Ask?him him/her to?explain?any?dissensions?or?questions?you?see.?still, if?necessary,?seek?another?opinion?from another accountant or?fiscal?professional to?ensure?your?fiscal?information?is?accurate?and?complete. Following steps are helpful 1. Gather evidence 2. Confront the accountant 3. Requested documentation 4. Seek second opinion 5. Consult legal advisor 6. Take corrective action 7. Report to authorities 8. Review internal controls 9. Monitor closely 10. Educate staff

I would address my concerns directly with the accountant and request clarification on any discrepancies or questionable entries that I find. I will also ask for transparent explanations regarding the creative practices and would consider seeking a second opinion from another qualified accountant, if I suspect that the accounting standards are not being followed.

Ask them to help familiarize you with the accounting standards being used by asking them to explain them. Are they GAAP, CAS, cash, IFERS, tax? Also ask them to explain the differences between them and why the standards being used are best in their opinion.

To solve this you can do the following: 1- Schedule a meeting with the accountant in question to discuss your concerns openly and directly present the evidence you have gathered and express your suspicions regarding the creative accounting practices give them an opportunity to provide an explanation. 2- Seek advice from a qualified professional such as an auditor, forensic accountant, or financial consultant they can help evaluate the situation, provide an objective assessment and guide you on the appropriate course of action. 3- If the accountant's response does not alleviate your concerns or if you believe there is a serious breach of ethics, report the issue to higher management or the appropriate authorities within your organization.

Sometimes the accountant just doesn't understand your risk tolerance and may be trying to get you the most out of the standards offered and available. A number of celebrities are always in the spotlight and can't afford being caught using aggressive tax standards that will be publicly questioned. There may be other reasons where you might be risk intolerant. Having a discussion about your risk tolerance is definitely worth discussion.

Listen but be careful , Read the numbers but be aware . You should to ask the accountant how you get this number ? Why you put this item here ( for instance current or non current asset or liability ) ? This cost should be capitalized or expensed as incurred ? And why ? When we recognize the revenue ? And why ? Everything recorded should be documented so you have references can go to them anytime to confirm

It is always important to give an ear to someone before taking any action. This will help you gauge the sincerity of the accountant or to know his side of the problem. Some may be remorseful and confess others may not. This conversation will lay ground for the next informed course of action

If necessary consider the following 1- Hire an independent auditor or accounting firm to conduct a review or audit of the financial statements they can provide an unbiased assessment of the accounting practices and help determine the accuracy and integrity of the reported numbers. 2- Strengthen internal controls within your organization to prevent and detect fraudulent activities this can involve segregating duties, implementing regular internal audits, and establishing checks and balances to ensure the accuracy and reliability of financial information. It is advisable to seek professional guidance throughout the process to protect your interests and maintain the integrity of your financial reporting.

Larger companies have internal audit departments. Publicly traded companies have external auditors. Some public accounting firms offer internal audit services. I've seen small charities have people come in to audit the books (either as volunteers or from a small local firm). The Government can come in and audit you. You have a lot of alternatives available to you.

So without any doubt, I will ask for detailed information about the numbers and also ask to provide the supporting documents in the favour of those numbers. If there is still further investigation required I will do an independent audit for more clarity.

Let the independent auditor ( preferred external auditor) verify and assess the accountant work Take his opinion about the procedures,documents,applied standards and the time elapsed between the transaction date and the next steps to record it . Take the auditor opinion in the audited work how he saw it and give any suggestions to improve or to correct .

If you find that the accountant is stealing from you or putting you in jeopardy, fire them. Come clean with the authorities and cooperate with the authorities. If it is just a misunderstanding directly talk about what needs to change and when. Correcting entries in your financial statements will be painful with your lenders and investors, so seek advice with your attorney.

What I would do is discuss my concerns by scheduling a meeting with my accountant to talk about it. Approach the conversation calmly and objectively, focusing on the specific issues I’ve identified, as well as request clarifications like asking my accountant to explain any questionable figures or practices. Give them an opportunity to provide justification for their actions.