Fort Lauderdale, FL - When disaster strikes, businesses turn to more than just spreadsheets and ledgers. They need someone who can read between the lines, ask the right questions, and help piece together a financial future out of chaos. For more than four decades, Bruce Smith, CPA/CFF, CFE, CPIA, founder of Smith Forensics, has been that someone with a steady hand that turns forensic accounting into both an art and a science.

Bruce Smith’s journey through the world of numbers began at the University of Wisconsin, where he graduated in 1976 with a degree in investment and finance. After thirteen years as a controller for a major retail corporation in Milwaukee, Smith traded snow for sunshine, relocating to Florida in 1989 for a position with renowned accounting firm Arthur Young. There, Smith discovered his passion for forensic accounting, a field that would soon become his life’s work.

In 1992, Smith launched his own practice with a focus on evaluating business interruption and property insurance claims. “Even as a child, I have always been interested in numbers and money,” shares Smith. “But forensic accounting is so much more than crunching numbers. It’s about understanding people, businesses, and the stories behind the numbers. Every engagement is different because every client’s story is unique.”

Turning Complex Claims Into Clarity

Forensic accounting, as Smith describes, is a distinctly different specialty from traditional accounting. Rather than focusing on taxes or financial statement preparation, his role involves combing through financial records to determine the value of losses after disasters like hurricanes, tornadoes, and hailstorms. “I don’t prepare taxes or standard financial statements,” he explains. “I use them for analytical purposes to calculate the real-world effects of a loss. My job is to help clients and insurance companies understand what was lost in order to settle claims fairly.”

A standout case in Smith’s career involved a Florida roofing nail manufacturer affected by Hurricane Jeanne in 2004. The insurance company’s forensic accountants had calculated the business interruption loss strictly using historical data. “But just before the storm, the client had purchased cutting-edge nail-making machines from Korea. They’d only used them for a few weeks, so their previous output did not reflect their true capabilities,” Smith recalls. After enlisting engineers from South Korea and conducting interviews with the manufacturer’s customers, Smith was able to demonstrate that potential production was far greater than the insurer’s initial calculations. The result: a settlement of $1.5 million versus the original $200,000 that had been offered.

A Process Built on Curiosity and Communication

Smith’s approach blends analytical rigor with investigative curiosity. Each engagement begins with interviews, not only to collect records but to understand how the business operates, what has changed recently, and what makes it unique. “Sometimes I dig into third-party sources, industry statistics, or even competitors’ data, especially when working with hotels or other service businesses. There’s always more to the story than meets the eye,” Smith emphasizes.

Staying up to date in this rapidly evolving industry is a serious commitment. Smith regularly attends professional seminars, completes continuing education courses, and networks at multiple industry conventions each year. While artificial intelligence has created new efficiencies for routine tasks, Smith believes the human element remains irreplaceable. “AI helps with some of the repetitive work, but so much of what I do depends on talking to people, understanding their business, and negotiating with all parties involved. There’s no substitute for that.”

Setting Expectations and Solving Problems

Smith is known for his straightforward approach with clients, especially when discussing costs and timelines. The complexity of claims can vary greatly depending on the industry, quality of records, and responsiveness of business owners. “Manufacturing claims, for example, are usually more involved than those for retail businesses. It’s all about how well you can tell the story of the loss with the records available,” Smith explains.

One specialized concept Smith often educates clients about is the “period of restoration” —the window of time between the disaster event and when the business can reasonably resume operations. “Defining this period is usually the most contentious part of any claim. There are always debates about whether repairs happened quickly enough or if improvements made during restoration extended the timeline. Once that’s settled, we can accurately assess the loss.”

A Family Business With an Eye on the Future

Looking ahead, Smith is preparing the next generation. His son, a CPA, Certified Forensic Examiner and attorney, joined Smith Forensics a few years ago, providing fresh perspectives and an expanded skill set. “He brings a legal background that’s very helpful when reviewing contracts or collaborating with attorneys on complex matters,” Smith says with pride.

Smith’s advice to aspiring forensic accountants is simple: master the basics of financial statements, sharpen your people skills, and never stop networking. “It’s a business built on relationships and curiosity. Every case is a puzzle, and you need both technical know-how and genuine interest in people to solve it.”

About Smith Forensics:



Smith Forensics specializes in forensic accounting services for insurance-related business interruption and property damage claims. Founder Bruce Smith brings more than 40 years of experience, industry certifications, and a client-centric approach to every engagement.

For more information about Bruce Smith CPA/CFF, CFE, CPIA, founder of Smith Forensics, please visit https://smithforensics.com/