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.
Forensic audits are presented as evidence by a prosecutor or by a lawyer representing an interested party. Because finance is a complex discipline, the jargon used by forensic auditors to describe a company's financial position is often highly precise.