The aim of the article is to study forensic accounting methods to detect fraud in financial statements. A taxonomy of forensic analytics methods is proposed and a generalization of seven mathematical models for detecting fraud recommended by forensic accounting experts and practitioners is provided, allowing for the detection of fraudulent financial statements before it is too late. The authors’ qualitative analysis of evaluating fraud detection models is based on data from semi-structured interviews conducted in the focus group of forensic accountants, investigators, and prosecutors.