What is the average cost of hiring a forensic accountant?

As a PI, we have dealt with numerous forensic accountants over the past 43 years. It is always wise to ask cost questions upfront before retaining any expert. We will give you our pricing based on our experience in hundreds of cases, many in family law. The real question you want to ask even before cost is at the bottom of this answer.

The cost of hiring a forensic accountant depends on factors like experience, location, complexity of the case, and the specific services required. Here’s a general breakdown:

• Hourly Rates: $500 to $600 per hour. Highly experienced forensic accountants or those from top-tier firms may charge at the higher end of this range.
• Flat Fees for Smaller Cases: $3,000 to $10,000.
• Complex Litigation & Fraud Cases: $10,000+.
• Retainers: Most forensic accounts will need a retainer in varying degrees.

Over the years, I have always been of the mindset that these accountants do four very simple things:

1.) Add

2.) Subtract

3.) Multiple

4.) Divide

The question is, “What numbers will they work with?” Usually, the financial reports and documents submitted you should assume are fraudulent or, at best, incomplete and inaccurate. Given that, you pay thousands to have an accountant analyze Gobliguck. Total waste of money.

Forensic accountants can provide a valuable service. Just make sure what they are mathematically looking at is worth spending all your hard-earned money they will charge. Does doing an “asset search” ring a bell?