Forensic Accounting Presented by: Gary Pope

What Is Forensic Accounting? Forensic Accounting the practice of utilizing accounting, auditing, and investigative skills to assist in legal matters.

2 MAIN AREAS LITIGATION SUPPORT & LITIGATION INVESTIGATION

2 MAIN AREAS LITIGATION SUPPORT Economic Issues – Related to Litigation Resolves Legal Disputes Potential Expert Witness LITIGATION INVESTIGATION Criminal Matters -ie: insurance fraud -And identity theft Civil Matters

Forensic Accounting is the fastest growing area of Accounting today! VALUED BY SOCIETY PAYS WELL! EXCITING

PRIVATE INVESTIGATOR W/ FINANCIAL SIXTH SENSE

SO WHAT DO THEY REALLY DO? Bankruptcy Divorce Cases Manipulation of Accounts/ inventories Employee Theft Security Fraud Identity Theft Insurance Fraud

FORENSIC ACCOUNTANTS Needed for: – investigating mergers – tax investigations – economic crime investigations – civil litigation support – terrorist investigations

QUICK FACT… Since 9/11 Forensic Accountants have been playing a major role in tracing terrorists around the world.

Education Needed Must have Bachelors Degree (in accounting) CPA certification CFE (Certified Fraud Examiner) CrFA (Certified Forensic Accountant)

SHERLOCK HOLMES

HOLMES

FACTS U.S. News and World Report: – 1 of 8 most secure jobs in America Smart Money Magazine: – counted as one of its “ten hottest jobs” – Salary: 125, ,000

INTERVIEW How would you describe a forensic accountant’s typical day? “A typical day is just like any other accountant’s typical day. You would review work papers, legal documents, have phone conversations with attorneys. You could coordinate up to two sets of attorneys and clients as to what has been found during your investigation. You would look at what was found and see if patterns develop; you would have conversations with your client as to roadblocks that have put in place, or removed. You would complete reports and the conclusions that were reached. And you could be asked to testify in legal proceedings, in which you would be deposed and testify as to findings in the case.”

Interview What would you consider to be necessary skills a forensic accountant must have? To be a good forensic accountant, you must have good analytical skills and good problem solving skills. You must have the ability to discuss sensitive subjects with potentially hostile parties, and be able to explain complex problems in simple and clear terms. You must have a skeptical personality. By that, I mean that you don’t accept things at first blush as the answer…you must question things.

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