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.
Use 'forensic audit' in a Sentence The company's CFO is under suspicion of fraud, and currently going through a forensic audit in search of accounting evidence of criminal activity. 20 people found this helpful After having thousands stolen from them, the company decided to perform a forensic audit to understand how they were able to get away with all this money.