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Published byChester Griffin Modified over 9 years ago
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Forensic Accountant Steven Auerbach
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Forensic Accountant Forensic accountants are experienced auditors and investigators of financial documents who look into fraudulent activity within a company. Hired by companies to prevent fraud from occurring in the first place. Often used for divorce, bankruptcy, insurance claims, fraudulent claims and tracking terrorism via financial records. Work closely with law enforcement and are often called upon to provide information in the court room.
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Prerequisites Must have a minimum of a bachelor’s degree in Forensic Accounting, Business, and Finance. Have knowledge of money laundering, insurance claims, telemarking fraud, credit card fraud, tax evasion, etc. Good social skills, independency, credibility and attention to detail are skills needed.
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Application in the Law Forensic accountants track the financial records of suspects who have been associated with crimes. Large deposits/withdrawals of money from banks without notification are often those of illegal activities In court, FA’s do not provide biased opinions, only facts and expertise.
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Enron Scandal Enron, ranked 6 th on the Fortune 500 list in 2001, filed for bankruptcy. Total debts to stockholders and assets about $13.6 billion. Accountants filed returns for the stockholders and assets in order to get their money back from the fraudulent company. Revealed by forensic accountants later that Enron did not pay a single dollar of their federal income tax in 2000.
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Advantages and Disadvantages Can yield high pay if you are a CFE (Certified Fraud Examiner). Helps businesses cut back on wasteful spending. Forensic accountants are exposed to blackmail and threats from the individuals that they help convict. The higher your degree is, the more likely you will find a job.
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Employment You can get a job as a forensic accountant in any business or law firm. There is always opportunity for a forensic accountant because companies can always use the added security against fraud.
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Salary
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Related Careers Document examiners Latent Print examiners Forensic accountants and Forensic analysts work closely when dealing with contracts, documents, and checks.
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