Premium Essay

Forensic Accountant Career

In: Business and Management

Submitted By ariel11
Words 2009
Pages 9
Running Head: Forensic Accountant 1

The Forensic Accountant Career
Bus-508 Contemporary Business
Professor Chris Lin
Sarah Reid
August 12, 2012

Forensic Accountant 2
1. Determine the most important five skills that a forensic accountant needs to possess and evaluate the need for each skill. Be sure to include discussion regarding the relationship between the skill and its application to business operations.

A document for the Skills needed for Forensic Accounting (2012) suggests that Forensic Accountant needs to possess is computer skills, “since document and financial statements have taken a more electronic format, forensic accountants must demonstrate computer skills in finding the paper trials left behind by corporate criminals. A forensic scientist will use computer software, known in their profession as computer-aided tools and techniques CATT to detect white –collar crimes. Some software includes data extraction, spreadsheet and data mining analysis.”
According to forensic Accounting (2012) suggests that Forensic Accountant’s investigative skills involve collecting and analyzing the audited information for possible discrepancies. The investigations delve into both missed by ordinary accounting and auditing methods. A forensic accountant bases his finding on criminology specifically centered on regulatory and ethical issues. According to Poole (2002) “forensic accountant must also be open minded and skeptical. In most cases he/she will be instructed by one party or the other and will therefore be presented with that party’s perspective of their case.

Forensic Accountant…...

Similar Documents

Free Essay

Forensic Accountant: Fraud Buster

...Using Teams in Production and Operations Management: Forensic Accountants: Fraud Busters. By: For: Class: Bus 508: Contemporary Business Date: 13 November 2012 Abstract: A case study for the Strayer University, Woodbridge, VA, Business 508 class, this paper provides for a brief review of 1) The skills that a forensic accountant requires; 2) The role of the forensic accountant in the courtroom; 3) The legal responsibilities of the forensic accountant; and lastly, 4) The role of the forensic accountant in a couple of major accounting fraud scandals. The world of Accounting has seen several major scandals since the early 1990s. These include major accounting failures such as Enron, WorldCom, Adelphia, Tyco, Phar-Mor, Cendant, Computer Associates, AOL, Freddie Mac, ImClone, Qwest Communications, Royal Ahold, Health South Corporation, AIG, Lehman Brothers, and most recently the Olympus Corporation. Some of these have resulted in the collapse and dissolution of the company – Enron, Adelphia; others have resulted in a major restructuring of the company – AOL, AIG, Freddie Mac. Whatever the result, they have all been caused by accounting fraud – either “cooking the books” to hide major losses or to hide the theft of funds. It has also resulted in the failure and absorption of the one of the Big Five Accounting firms – Arthur Anderson. Besides the whistle blower who brought most of these to public view and the lawyers who have been involved their......

Words: 1726 - Pages: 7

Premium Essay

Forensic Accountant

...Running head: Forensic accountant 1 Forensic Accountant Tanya Pace Dr. Gina Zaffino Bus 508, Contemporary Business 11/16/2012 Running head: Forensic Accountant 2 Determine the most important five (5) skills that a forensic accountant needs to possess and evaluate the need for each skill. Be sure to include discussion regarding the relationship between the skill and its application to business operations. Although forensic accounting is not a new field, it has become more talked about since cases like Enron came to light. For someone interested in the Forensic Accountant profession they should know that this field can be time consuming, but very rewarding. People who work in this career investigate white collar crimes such as company fraud, fraudulent financial record reporting, and illegal investment schemes. In a recent study by the Federal Bureau of Investigation shows that white collar crimes have cost the United States and estimated 300 billion dollars (DiGabriele 2008). I think five of the skills that a forensic account would need are communication skills, detail oriented, professional and ethical behavior, sound judgment and discretion. Communication skills are vital in any profession. It allows you to convey information for others to receive. The problem with communication is that it can be interpreted differently by other intended parties. As a forensic accountant, communication skills, verbal and non verbal, are......

Words: 1643 - Pages: 7

Premium Essay

Career Opportunitities for Accountants

...Career Opportunities for Accountants Janie Goins XACC - 280 January 20, 2013 Mark Detka Public accounting and financial advising would be two business sectors that I might want to work in if I were an accountant. Per the website, “The Free Dictionary”, it takes “A person who has the requisite skill and experience in establishing and maintaining accurate financial records for an individual or a business” to be in an accounting role (The Free Dictionary, 2012). Taxation would be the part of Public accounting that I would want to specialize in. I have worked as a receptionist in a Certified Public Accountant firm in the past and loved it. During February to April 15th it was busy as the public and private clients were trying to get as much money back on their taxes as possible. As a receptionist, I was not able to work on the taxes themselves, but I was able to look at them when I made copies or gave them to the clients to look over and sign. As far as Financial Advising goes, I would like to work on becoming a professional advisor helping people to set their financial futures straight so they can have the lives that they always dreamed of. There has been so many debates as to whether Social Security will or will not be there for this and future generations. I would like to make it so it would not matter because your financial future is secure. I have chosen the Certified Public Accountant and Advisor firm of Dixon Hughes Goodman, LLP (Dixon Hughes Goodman,......

Words: 460 - Pages: 2

Premium Essay

Forensic Accountants

... Forensic accounting is often involved with accounting, analyzing financial evidence, auditing, and investigating legal and financial proceedings. This paper will examine the most important five skills that a forensic accountant needs to possess and evaluate the need for each skill, describe the role of a forensic accountant within a courtroom, analyze the legal responsibility of a forensic accountant has while providing service to a business, and research two cases where forensic accountants have provided vital evidence in a case. Caleb Newquist touches on the subject of new forensic accountants, “Prospective forensic accountants can count on making many enemies in the course of their work and must be unhinged by the retaliation that normally follows uncovering fraud and other misconduct” (p.1). Their job description comprises of a wide range of duties in which each case they work require different skills and different ideas to become successful. Question 1: Determine the most important five skills that a forensic accountant needs to possess and evaluate the need for each skill The most important five skills that a forensic accountant needs to possess are analytical, creativity, organization or detailed oriented, persistence, and investigative skills. According to Luanne Kelchner editor for eHow, “Forensic accountants must have an analytical personality to perform well in the job. According to the American Institute of CPAs, a group of lawyers, CPAs and forensic......

Words: 1134 - Pages: 5

Premium Essay

Forensic Accountants

...Forensic Elite: Detective of Numbers Tara Albright Strayer University BUS 504 Contemporary Business February 24, 2013 Dr. Jason M. Barrett Forensic Elite: Detective of Numbers No one in the world likes a snitch. In the early 2000’s the urban campaign “Stop Snitching or Die” changed the face of whistle blowing in the United States (Masten, 2009). Neighborhood violence during the “Stop Snitching or Die” campaign increased as law abiding citizen cowered inside their homes as gun shots rang out feet away from their doorsteps (Masten, 2009). In corporate America companies faced huge financial lost as the “Stop Snitching or Die” theology spilled into boardrooms and accounting departments. The corporate world was not as brazen as the urban world killing anyone that help out law enforcement, but the results of company leaders keeping quiet about misconduct slowly murdered the American economic system. While corporate leaders played their hand at boardroom gangbanging by lying, stealing, and falsifying financial documents, the world would see snitching taken to a new level (Masten, 2009). The job of combing through those illegal financial documents would go to an elite set of men and women, called forensic accountant. Forensic accountants help America recover huge amounts of financial dollars by bring corporate leaders to justice who made illegal business decisions (Davis, Farrell, & Ogilby, 2009). Attributes of the Elite Forensic accounting/accountant (FA)......

Words: 2344 - Pages: 10

Premium Essay

Forensic Accountant

... 05/19/2013 forensic accountant CONTEMPORARY BUSINESS forensic accountant CONTEMPORARY BUSINESS 125/19/20135/19/20135/19/2013 fraud busters In today’s world, it is knows by everyone that different developments were taken place in the last periods. Our globalized world in a state of continuous technological change and innovations has been challenged by new generation criminology risk factors. From business, government, regulatory authorities, and the courts evidence indicates that a higher level of expertise is necessary to analyze current financial transactions and events. Forensic accounting is a specialized area of an accounting practice that describes engagements which results from actual or anticipated disputes or litigations. Forensic accounting has been defined as accounting analyzers that can uncover possible fraud that is suitable for presentation in court. A Forensic accountant needs accounting, law, finance, investigative and research skills to identify and prevent fraud. Forensic accountant uses her/his knowledge of accounting, law, and criminology to uncover fraud, as well as gather any evidence and present it to the court. Forensic accountants have been around for nearly 200 years! The earliest reference was found in 1824 in an accountants advertising circular in Glasgow, Scotland.......

Words: 2300 - Pages: 10

Free Essay

Career Opportunities for Accountants

...Exercise: Career Opportunities for Accountants Two business sectors that I would chose to work for would be insurance and audit for the government and the second would be working in payroll. As bad as the government can be, I still would like to work there and for them, we all know it is great job security. Additionally with insurance and audit I believe that I would not get easily bored or slack off on the job as I might with other jobs for the simple idea that it’s never really the same. Every day I would get to review other businesses and the information and other types of data at the same time to make sure they are correct, it wouldn't be like looking at the same page every day when I go into work. For the second choice it would be payroll, it is repetitive and although I think that it would be exciting to some extent just simply knowing that the employees are counting on you and you only to get their pay checks right the first time is a lot of pressure for one person, I feel that this would be a great job for me especially since I like to be accurate with my work. I believe that working for the Securities and Exchange Commission would not only satisfy my personal ideals but also I would be able to achieve the accounting principles set forth by the (GAAP) effectively. I would be able to make sure the principles are being carried out efficiently and accurately through the data review. I would feel confident in that I can help and protect new and existing......

Words: 341 - Pages: 2

Premium Essay

The Language and Culture of the Accountant, Auditor and Forensic Accountant

...The Language and Culture of the Accountant, Auditor and Forensic Accountant Jerry Brockman Davenport University Abstract The overall purpose of this Professional Language and Culture report is to detail the accountant’s communication style and culture, as well as, their specialized language. The report begins with a brief discussion of the origin of accounting, as well as, the distinction between bookkeeping and accounting. Additionally, an examination of the Financial Accounting Standards Board (FASB) provides insight into the culture, ethical values and professional standards of accountants. Other areas of discussion in this report are the voice and tone used in various forms of communication by the accountant. Also, included in this report is an excerpt from an interview of an accounting professional as well as an example from a journal article. These artifacts will provide the reader with examples of the mind-set and communication style of the accountant. Finally, this report concludes with an examination of the auditor’s as well as the forensic accountant’s culture and communication style. Table of Contents Contents Abstract 2 Table of Contents 3 Accounting has been around for centuries.. 4 Professional Standards and Ethics 4 Culture of Professional Standards 5 Language of Business 6 Voice and Tone 6 Specialized Areas of Accounting 7 Communication 8 Forensic Accounting 8 Communication 9 Conclusion 9 References 11 Appendix......

Words: 3164 - Pages: 13

Premium Essay

Forensic Accountant

...Forensic Accountants: Fraud Busters Strayer University Business 508 August 11, 2013 Abstract The paper will determine the five important skills a forensic accountant must possess and describe their role within a courtroom environment. It will also analyze the legal responsibility of the accountant while serving its clients business. Giving two examples where a forensic accountant played an important role in aiding attorneys in presenting fraudulent bookkeeping records of company’s who ultimately committed white-collar crimes. Have you ever heard the figure of speech a “needle in a haystack” when referring to finding a small object in a large setting? The task of performing a very detailed search seems impossible. Leaving no stone unturned and demanding hours and hours of mental and manual labor. This is what a forensic accountant faces. By definition, a forensic investigation of any kind is conducted with the purpose of obtaining evidence that will be used in a court case. Forensic accounting is simply the analysis of financial documents use as tax returns, bank statements, canceled checks and the like, in search of proof of a criminal act, be it tax evasion, running numbers, embezzlement, money laundering, fraud by wire or securities fraud (DiGabriele, 2009). These crimes exists for the sole purpose of illegally making money. Leaving a paper trail pointing to criminal activity producing money coming into and leaving the......

Words: 2760 - Pages: 12

Free Essay

Forensic Accountant

...Introduction There are many key component of a case. Some of these things include the evidence, the witnesses and the expert witnesses. One of these expert witnesses includes the forensic accountant, which has become a common use within the courtroom. This paper will discuss the five most important skills that a forensic accountant needs to possess, the role of a forensic accountant within a courtroom environment, the legal responsibility a forensic accountant has while providing service to a business, and two cases where forensic accountant have provided vital evidence in a case. It will also summarize the accountant’s role during the cases. Five Most Important Skills The five most important skills a forensic accountant needs to possess are private investigator, research skills, analytical abilities, accounting and task manager. Private investigator skills are important because they have to be able to gather information about the case. They have to be able to provide hard facts about the case to prove that fraud is actually accruing within the company or towards the company. They also have to go undetected that way important things that can help a case will not be cover up nor erased. They also have to possess research skills. This way they can gather only the important facts that can help with the case because they do not want to enter evidence that can harm the case or that does not have any relevance to the case. Analytical abilities are essential......

Words: 793 - Pages: 4

Premium Essay

Forensic Accountants

...Introduction Forensic accounting has been around for many years. With the spotlight on accounting due to high profile scandals such as the Enron debacle, the market for forensic accountants has increased. The increase in white collar crimes due to the economic downturn also has forensic accounting in high demand. These accountants assist in investigating financial, auditing and business related issues and require specialized training. Forensic accountants are retained by lawyers, police forces, insurance companies, banks, and the business community. Government agencies employ forensic accountants as well. Accounting positions at the FBI date back to the 1970s and around 15 percent of today’s agents qualify as special agent accountants. These agents investigate terrorists, spies, and criminals of all kinds who are involved in financial wrongdoing (FBI.gov, 2012). Determine the most important five (5) skills that a forensic accountant needs to possess and evaluate the need for each skill. Be sure to include discussion regarding the relationship between the skill and its application to business operations. Forensic accounting is a specialty field within the broader area of accounting. These accountants are more than just number crunchers. The realm of forensic accounting requires a certain type of person who possesses specific skills and traits. Besides the core knowledge and skills of any Certified Public Accountant (CPA), they must know how to use a variety of......

Words: 1779 - Pages: 8

Free Essay

Forensic Chemist Careers

...Forensic Chemist The trunk of a stolen car smells of decomposed flesh, a pair of Converse high tops with tiny specs of blood spatter are all alone in the back seat of the same car, and a half smoked cigarette rests softly on a freshly mowed lawn next to the driveway. These are clues of a crime scene. Each clue adds up to the story of something terrible. A crime has taken place, and law enforcement is on the scene. Whether it is a detective, county Sheriff or the FBI, the investigators will rely on their forensic teams to link all the pieces of the puzzle that don’t quite fit yet. A Forensic Chemist can make them fit by scientifically analyzing the evidence. Chemistry, biology, materials science, and genetics to analyze clue found at the scene of the crime, on the victims or in the bodies of the bad guys. Forensic Chemists go into a case with many unknow pieces of the crime scene they need to analyze to determine the nature of each sample. Most Forensic Chemists work in a lab. It is rare for private labs to do this kind of work so most of the time these labs are associated with Local, State, or Federal law enforcement agencies. From local Medical Examiner’s labs to state of the art FBI labs, Forensics Chemists often provide the strongest evidence in court against the defendants. They have many different types of test and methods they use to figure out what the samples mean. Each crime scene brings new types of clues and samples so a Forensic Chemist must......

Words: 984 - Pages: 4

Premium Essay

A Growing Profession Forensic Accountants

...and business fraud, forensic accountants are in great demand. Forensic accounting is the practice of utilizing accounting, investigative, organizational, analytical and communicational skills to conduct examination into a company’s financial statements in legal matters (Crumbley, 2007). Forensic accountants can own their own accounting firms or be employed by lawyers, insurance companies, banks, or large corporations. The use of accountants has played an important role in assisting the government as well as the public. Forensic Accountants participate in detecting scandals and financial crimes caused by individuals, companies and organized crime networks. This profession consists of three main areas litigation support, investigation and dispute resolution (Harris, 200). Litigation support involves the factual arrangement of financial issues, investigation comes in when criminal matters have occurred, and the dispute resolution is the process of bringing justice and fairness. To work effectively within these three core components, forensic accounts must have a set of skills to perform their job efficiently. Important Skills Forensic Accountants must posses more than the fundamental knowledge of financial accounting and auditing. Each project requires analysis, interpretation, summarization and presentation of complex financial- and business-related issues (Matson, 2012). There are several core skills that are required and expected for the accountant to perform their......

Words: 2124 - Pages: 9

Premium Essay

Job Shadowing the Career of an Accountant

...Job Shadowing the Career of an Accountant Emily A. Youngblood Northwood Inc. Abstract This paper was written in accordance of a job shadow I recently conducted at Northwood Inc., of an accountant manager named Denise Nass. Questions that are asked include why I am interested in this career, my previous knowledge, what I learned, the positive and negatives of this career, and my strengths and weaknesses. I’m interested in this career because of the creativity, “number-crunching”, and the environment. From previous accounting classes I know that accountants produce financial statements, budgets, and control inventories. I went to Northwood for a day and observed the actions of Denise and the other accountants in the department. I found that accountant involves many management aspects such as strategic planning and problem solving. I realized that accountant managers receive great pay, benefits, and work in a focused environment. On the other hand, it was very obvious that accounting can be quite boring and difficult to deal with individuals who are very different from yourself. My strengths include being very organized, have patience, can deal with different personalities, and have great problem solving skills. The only weakness I can see associated with this career is how easily I get stressed out. JOB SHADOWING THE CAREER OF AN ACCOUNTANT Since I was in high school, I always knew that when I was older I wanted to become an accountant. I was never really sure what......

Words: 1332 - Pages: 6

Free Essay

Career Opportunities for Accountants Exercise

...Career Opportunities for Accountants Exercise Bryan Green XACC/280 May 27, 2012 David Bulkeley Career Opportunities for Accountants Exercise Provided that I was an accountant than I would work in a bank kind of setting or do some work in a credit card organization. I prefer to work as a credit card examiner in the business over being in the bank all day. It will be a good job to have on account of you will get a chance to evaluate all individual, and establish on that the people’s debt to income ratio is beneficial to invest in. Figuring out that an individual could sustain the loan with their various open lines of credit I believe will be interesting, to be capable in advocating if someone can or not sustain over the normal cost of living I think is intriguing. With the confirming on that an individual is respectable at a time to be invested in you additionally grab the sensation of fulfillment by giving a person satisfaction which they are dependable enough for a person to entrust them with currency and to pay it back on time. It also happens in bank situations when a loan officer determines if or not an individual is suited of paying back a loan for anything they put the money towards. I think that having a job with the (SEC) will not only humor my individual goals but additionally I will be capable to attain the accounting standards advanced by the Generally Accepted Accounting Principles efficiently. I will be capable to establish the principles are being......

Words: 365 - Pages: 2