Forensic accounting is one of the fastest growing areas of
accounting jobs in the market today. This specialized area is
interesting and dynamic, and provides unlimited opportunities
for the next few decades.
Forensic accountants work in two primary areas, investigative
accounting and litigation support. Investigative accounting
encompasses not just the numbers and documents of a company, but
the business environment as well. Forensic accountants
investigate the financial operations of an enterprise and
prepare information that may be used in a criminal or civil
court case. Forensic accountants provide investigative services
or provide support for litigation.
Forensic accountants will often spend time at the business they
are investigating, collecting and analyzing financial data. Most
of this analysis is done on the computer, so good computer
skills and knowledge of software is essential to this position.
The forensic accountant will collect evidence and documentation
that may be used in a courtroom proceeding, and will prepare
reports to be used the management of the company being
investigated, parties to the litigation or law enforcement
agencies. Often, the forensic accountant will be required to
testify in court or provide depositions as to their findings.
Forensic accountants are employed by a variety of companies and
agencies. Many law enforcement agencies have forensic
accountants on staff to assist with criminal investigations.
Often, these accountants follow the money trail to help track
and prosecute a criminal. Many CPA firms have forensic
accountants on staff, and more firms are specializing in
forensic accounting to assist with shareholder and partnership
disputes, business loss, fraud or employee theft investigations
and professional negligence issues. Other forensic accountants
work for or with insurance companies to investigate business
interruption and other types of claims. Forensic accountants
routinely work for or with law enforcement agencies, lawyers,
insurance companies, business owners and government agencies.
About 40% of the top 100 accounting firms in the United States
now have a forensic accounting department, and the field is
expected to be one of the top 20 job markets in the next few
years. How do you become a forensic accountant? A bachelor's
degree in accounting is required, and most are already certified
public accountants (CPA's). Additional coursework in areas like
law enforcement and criminal justice is usually required, and
some legal training is helpful. You may want to pursue a
accreditation as a certified fraud examiner (CFE) from the
Association of Certified Fraud Examiners. This is a nationally
recognized accreditation similar to the CPA designation.
Entry salaries in this field range from upwards of $30,000 to
$60,000, but experienced forensic accountants often exceed
$100,000 per year and more. So, if you are looking for a
lucrative, interesting job with plenty of upward mobility,
consider forensic accounting. With almost unlimited growth for
the next few decades, it's an accounting job with great
potential.
About the author:
Jay Moncliff is the founder of
http://www.accounting-center.info a website specialized on
Accounting Jobs,
resources and articles. This site provides updated information
on Accounting Jobs. For more info visit his site: Accounting Jobs
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