Severance pay is a payment made by the employer when the employee is separated from the job. severance pay was not used to determine a workerâs eligibility for unemployment benefits. benefits. payable in the weeks to which the severance payment is allocated or distributed.
forensic accounting. Definition. A method of accounting that deals with financial procedures that have been challenged or charged as illegal. One example of forensic accounting is examining insurance fraud claims. Related Terms.
DEFINITION of 'Forensic Audit'. An examination and evaluation of a firm's or individual's financial information for use as evidence in court.A forensic audit can be conducted in order to prosecute a party for fraud, embezzlement or other financial claims.orensic auditing is a specialization within the field of accounting, and forensic auditors often provide expert testimony during trial proceedings.