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.
While other forensic experts recreate crime scenes by analyzing blood and bullets, a certified forensic accountant uses analysis and attention to detail to track down financial criminals. A forensic accountant investigates legal documents and financial statements in order to find criminal or other illicit activity.