Forensic Accounting Is An In-Demand Job

Some public accountants specialize in forensic accounting — investigating and interpreting white-collar crimes such as securities fraud and embezzlement, bankruptcies and contract disputes, and other complex and possibly criminal financial transactions, including money laundering by organized criminals.

These accountants combine their knowledge of accounting and finance with law and investigative techniques to determine whether an activity is illegal. Many forensic accountants work closely with law enforcement personnel and lawyers during investigations and often appear as expert witnesses during trials. Also read about Criminal Justice Jobs.

I included this expert article to shed some more light on an exciting and intriguing career possibility.

Hot Career - Forensic Accounting

With the increase in white collar crimes in securities fraud, banking and investment misappropriations, comes the increase in demand for accountants with strong knowledge of accounting procedures and financial experience coupled with strong analytic and investigative skills.

According to U.S. World and News Report, accountants with this experience are in one of the most secure job opportunities for the future.

Forensic Accountants work in major accounting firms. Their skills and expertise are in high demand for investigating on mergers and acquisitions, tax investigations, economic crime investigations, civil litigation support, specialized audits, and terrorist investigations. They work throughout the business world, in public accounting, and in government agencies such as FBI, Internal revenue, Local Law enforcement and others.

Opportunities for qualified forensic professionals are abound in private companies, particularly with the essential need of the Sarbanes-Oxley act (SOX). Publicly held companies are inviting those with these skills and knowledge as a part of their strong internal control team, to comply with governmental and market demands for accurate reporting. Beyond SOX, these accountants help prevent and detect misuse of company resources in private companies.

Recent major corporate scandals have encouraged business owners to turn to Forensic Accountants for more proactive fraud audits and prevention. The frauds which these professionals are looking for is usually one of these two general types: financial statement fraud or theft of assets. To uncover financial statement fraud, detail analyzations are carried out on the financial statements by using ratio analysis and data-mining techniques such as Benford's Law. Other procedures performed include inspection of documents and records and conduct interviews with witnesses and suspects.

Divorce attorneys may call on forensically qualified accountants to evaluate whether assets are being understated or liabilities are overstated. In addition, forensic accountants may be asked to determine the amount of the loss sustained by victims, testify in court as an expert witness and assist in the preparation of visual aids and written summaries for use in court. To be successful, these accountants needs knowledge of fraud schemes, investigation techniques, and the law to fulfill the expectations of his or her client or employer.

This profession can earn anything from $35,000 to $60,000 a year in an entry-level position. With experience, this job could fetch an annual salary of six figures. A job as a Forensic Accountant is one of the most interesting professions currently. It's very challenging and at the same time exciting to work with prosecutors and attorneys in court cases. This type of accounting opens the door for you to become a high-end forensic detective.

For more information about forensic accounting career and benefits, visit ForensicAccountingDemystified.com.

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Before you pursue a career as a forensic accountant, you must obtain the right education. Forensic accountants generally have a bachelor’s degree or master’s degree in accounting. Upon course completion, certification is required. Get lots more information about Forensic Accounting Careers.

Forensic accounting includes the recording, reporting, and analysis of financial transactions in a form that is suitable for use in a court of law. Particularly in light of the Enron scandal and the tracking of international criminals, forensic accountants have gained a lot of public attention. As such, it looks like becoming an unbeatable career choice for long term security.

Working For The Big 4

This type of Accounting jobs appear in major accounting firms like the Big 4. These skills and expertise are in high demand for investigating on M&A, tax investigations, economic crime investigations, civil litigation support, specialized audits, and terrorist investigations. These specialist Accountants work throughout the business world, in public accounting, and in government agencies such as FBI, Internal revenue, Local Law enforcement and others.

If you are serious about your career and want to land a job with the Big 4, you need an edge. You need to understand when and how you are being judged and the exact things that you can do and say to fly through the hiring process and avoid the pitfalls!

The Big 4 public accounting firms (PricewaterhouseCoopers, KPMG, Ernst & Young, Deloitte Touche Tohmasu) are the best in the industry and a launching pad for an amazing career.

If you've read anything about me on this site you will know that I joined KPMG in my early career and spent a number of years building up a career consulting practice within the KPMG Management Consulting part of the firm.

Working with a big 4 firm like KPMG (KPMG Peat Marwick in those days) is an incredible experience and one I would recommend to anyone who wants to develop their career.

Landing a job with one of the Big 4 is the ultimate final exam.... Click Here To Pass First Time

As I used to work for KPMG as a Management Consultant, which means I know how they work, why not let me write your CV for you?

Also In This Finance & Accounting Section

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• Accounting Technicians Training

• Finance Director Cover Letter

• Finance Resume

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