Forensic Accounting

Forensic Accounting

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Forensic accounting, also referred to as investigative accounting involves in the utilization of accounting concepts as well as techniques in solving legal problems. It is the work of forensic accountants to investigate and document fraud (financial) as well as white collar crimes like embezzlement. They also assist attorneys in litigation support and law enforcement agents in investigating and solving financial inconsistencies. Corporations and Legal firms consult forensic accountants to aid in allegations of fraud. It is therefore important for forensic consultants to be very good at their work considering their clients. To be an excellent forensic attorney one needs to possess certain skills.

Firstly, a good forensic accountant must be competent in accounting. One must initially be a certified public accountant before considering working a career in forensic accounting. This is because one need to be familiar with basic as well as complex accounting in order to perform the necessary tasks that forensic accountants are contracted to do. CPAs are evaluated by the Certified Financial Forensics (CFFs) credential which is exclusively issued to CPAs who demonstrate expert ability in forensic accounting through their education, experience and skills.

In addition, a forensic accountants need to have a high aptitude for accounting. This consists of an inquisitive mind, attention to detail, excellent communication skills (oral as well as written), and the tenacity to analyze and deal with a numerous documents containing evidence. One must be able to work under tight deadlines and therefore natural accounting aptitude is necessary for one to be outstanding in the performance of their contracts.

Good forensic accountants must also have excellent command of the law as well as legal procedures. One of their responsibilities is participate in...