What is a forensic accountant?

From the Banking, Finance & Accountancy Forum

Started by Rose_White on 13-12-2011 @ 11:00

Someone told me I should be a forensic accountant. What do they do? Aounds more exciting than a standard accountant anyway. lol. But I'm guessing its not like CSI?

Kristianab
Reply posted 14-12-2011 @ 22:59

First of all the boring part: Forensic = used or applied in the investigation and establishment of facts or evidence in a court of law; forensic accountant = an accountant who specializes in applying accountancy skills to the purposes of the law; forensic accountant = auditors, accountants, and investigators of legal and financial documents that are hired to look into possible suspicions of fraudulent activity within a company; or are hired by a company who may just want to prevent fraudulent activities from occurring. Then the interesting part: While financial accountants often complete the documents as per legal requirements, meanwhile forensic accountants are looking for all the deviations from the norm that has unlawful intent. Financial accountants have to do as they are asked, but forensic accountants have to be imaginative and creative to see the things that fraudsters might want to hide and have to have very high attention to detail and ability to see connections between different data. As a financial investigator you probably could make it like CSI. Why? Becose there are no limits to financial crimes that people could commit. New crimes create neccessity for new methods of catching them out. But you could also be dealing with typical things like divorces and checking if people are not hiding assets, or bankruptcies and checking if it is not a fake, or tax thieves who hide their actual income to avoid paying taxes, or money laundering and checking if illegal income is not claimed as legal, or suspicious insurance claims, or more. If you feel that you might be interested in investigating financial crimes or preventing them then my personal advice would be to find universities that teach it as a subject, course or degree and enquire with them about it. Open days are good way of gaining information because you get to speak to academics in person. And of course, don't rule out the internet search on the subject.

Rose_White
Reply posted 15-12-2011 @ 09:48

wow! thanks so much for your help, really comprehensive. I'm definitely going to look further into it!

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