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Forensic Accountant

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by

Pirakasini Velupillai

on 16 October 2013

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Transcript of Forensic Accountant

Does Anyone know what a Forensic Account is or what they do ?
Many of them tend to work closely with law enforcement personnel and lawyers during investigations.
Education
You must have a bachelor’s degree in accounting, and you are expected to have CPA (Certified Public Accountant) certification to begin a Forensic Accounting Career. It’s also helpful to become a CFE (Certified Fraud Examiner).
What are the required skills
needed to become a
Forensic Accountant ?
General Tasks
- Perform forensic research to trace funds and identify assets for recovery
- Conduct forensic analysis of financial data
- Prepare forensic accounting reports from financial findings
- Prepare analytical data for litigation and testifies as needed
Forensic Accountant
By : Pirakasini V. & Endri
Forensic Accountants are qualified accountants, auditors, and investigators of legal and business documents. They are hired to look into possible uncertainties of dishonest activity within a company.
Forensic Accountant’s also provide many services in areas such as accounting, antitrust, damages, analysis, and general consulting. Forensic Accountants have also been used in divorces, insurance claims, bankruptcy, fraudulent claims, and also personal injury claims.
What
Is Needed ?
Other than having strong accounting skills and legal knowledge, forensic accountants require the following :
- The ability to think creatively
- Persistence
- Attention to detail
- Communicate Effectively
- Remarkable curiosity
- Analytical and Research Skills

Knowledge, Skills, and Abilities ?
Knowledge
Insurance claims
GAAP or GAAS violations
Telemarketing fraud
Contract and procurement fraud
Securities fraud
Financial statement fraud

Skills
Writing reports
Testifying as an expert witness

Abilities
Interpersonal communication
Verbal communication
Written communication
Attention to detail
Analytical
Integrity
Objectivity
Independence
Credibility
Places where they work ?
Many Forensic Accounting positions need at least one to three years of accounting experience. They can attain this experience by working as a general accountant.
For those who have finished the accounting program they will be able to work anywhere undercover where accounting is needed. It ranges from private corporations or firms that help specific corporations deal with suspected (or known) fraud and embezzlement to government organizations such as police departments, FBI or the CIA. They tend to work for public accounting firms, banks, the IRS, insurance companies and law firms.
What is the Annual Salary for a Forensic Accountant ?
Forensic Accountants are a part of the larger field of accountants and auditors. The average annual salary for a Forensic Accountant is about $61,690. The exact salary is different based on specialization within the field, the location, the years of experience and a range of other factors.
Bankruptcy fraud
Credit card fraud
Embezzlement
Financial data analysis
Computer application design
Damage assessment
Locating hidden assets
Forensic intelligence gathering
Accounting procedures
Legal system and its procedures
Computer applications
Works Cited
"ACFE - Association of Certified Fraud Examiners." Career Path. N.p., n.d. Web. 05 Oct. 2013. <http://www.acfe.com/career-path-forensic-accountant.aspx>.
"Forensic Accountant." Accounting Degree Today RSS. N.p., n.d. Web. 05 Oct. 2013. <http://www.accountingdegreetoday.com/careers/forensic-accountant/>.
"Forensic Accountant." Wikipedia. Wikimedia Foundation, 25 Sept. 2013. Web. 06 Oct. 2013. <http://en.wikipedia.org/wiki/Forensic_accountant>.
"FORENSIC ACCOUNTANTS." : , ROLES AND RESPONSIBILITIES. N.p., n.d. Web. 05 Oct. 2013. <http://accountantnextdoor.blogspot.ca/2010/06/forensic-accountants-roles-and.html>.
"Forensic Accounting Career Information." Forensic Accounting. N.p., n.d. Web. 06 Oct. 2013. <http://www.allbusinessschools.com/business-careers/article/career-in-forensic-accounting>.
"Kids Ahead - Forensics Articles - How Forensic Accounting Works." Kids Ahead - Forensics Articles - How Forensic Accounting Works. N.p., n.d. Web. 06 Oct. 2013. <http://kidsahead.com/external/article/91>.
O, Faith. "What Is the Starting Salary for Forensic Accounting? | EHow." EHow. Demand Media, 07 Jan. 2009. Web. 05 Oct. 2013. <http://www.ehow.com/about_4709912_what-starting-salary-forensic-accounting.html>.
"Uncovering A Career In Forensic Accounting." Investopedia. N.p., n.d. Web. 05 Oct. 2013. <http://www.investopedia.com/articles/financial-careers/08/forensic-accounting-career.asp>.
"What Is a Forensic Accountant?" What Is a Forensic Accountant? N.p., n.d. Web. 07 Oct. 2013. <http://www.divorceinteractive.com/forensic_accountant.asp>.


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