What does a Forensic Accountant Do ?

A Forensic Accountant is often retained to analyze, interpret, summarize and present complex financial and business related issues in a manner which is both understandable and properly supported.

Forensic Accountants can be engaged in public practice or employed by insurance companies, banks, police forces, government agencies and other organizations.

A Forensic Accountant is often involved in the following:

• Investigating and analyzing financial evidence;

• Developing computerized applications to assist in the analysis and presentation of financial evidence;

• Communicating their findings in the form of reports, exhibits and collections of documents; and

• Assisting in legal proceedings, including testifying in court as an expert witness and preparing visual aids to support trial evidence.

DEFINITION OF 'FORENSIC ACCOUNTING'

Forensic Accounting utilizes accounting, auditing, and investigative skills to conduct an examination into a company's financial statements. Thus, providing an accounting analysis that is suitable for court.

Forensic Accountants combine their accounting knowledge with investigative skills in various litigation support and investigative accounting settings. Forensic Accountants are employed by public accounting firms’ forensic accounting divisions; by consulting firms specializing in risk consulting and forensic accounting services; or by lawyers, law enforcement agencies, insurance companies, government organizations or financial institutions. Due to heightened awareness and growing intolerance of fraudulent activity, demand for Forensic Accountants is rapidly increasing.

Accountants with critical investigation skills who are familiar with accounting transactions, policies and procedures.  Awareness of types of frauds, chances of occurrence, policy weaknesses, Documents weakness.  All depends on this and this this a off site job.

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Forensic just means "relating to the application of scientific knowledge to a legal problem" or "usable in a court of law."Forensic accounting is simply a specialty field within the broader arena of accounting.

The types of crimes forensic accountants investigate are classified as "crimes against property." They investigate crimes such as fraud and give expert testimony in court trials. They also perform work related to civil disputes. Forensic accountants are also known as fraud investigators, investigative accountants, forensic auditors or fraud auditors.

Although forensic accounting may not sound as glamorous as its other investigative counterparts, the field has received more attention in recent years. This is due in part to the high-profile, financial white-collar crimes involving large corporations, such as the Enron an­d Adelphia Communications scandals of2001 and2002. 

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Forensic accounting (Forensic audit):

The application of accounting methods to the tracking and collection of forensic evidence, usually for investigation and prosecution of criminal acts such as embezzlement or fraud.

A forensic accountant is often retained to analyze, interpret, summarize and present complex financial and business related issues in a manner which is both understandable and properly supported.

Forensic accountants can be engaged in public practice or employed by insurance companies, banks, police forces, government agencies and other organizations.