Forensic Accounting Careers

If you're interested in accounting, but afraid it might be a tad, well, boring for you, then consider a career in forensic accounting. A forensic accounting career is like being an investigator of sorts, only you're investigating people's money, often investigating fraud. Forensic accountants dig up the dirt, so to speak, on an individual or company's finances. It's part accountant, part investigator. A forensic accounting career also allows an individual to look for work in many different places, from police departments to law firms to CPA firms.

What do Forensic Accountants Do?

Forensic accountants use their skills as accountants to investigate financial irregularities and settle financial disputes. As a forensic accountant you may be called upon to:

  * investigate securities fraud and embezzlement
  * help settle contract disputes
  * investigate money laundering

Top accounting firms in the U.S. use forensic accountants, and the demand is just going to continue in the future. In fact, according to statistics, forensic accounting will be included in the top twenty job markets in the years to come.

Litigation support is also very important and forensic accountants play a very important role in it. First, forensic accountants investigate the concerned company or individual’s financial operations. Then, after the investigation is complete, they prepare the necessary information that will be used for filing civil or criminal court cases.

Forensic accountants spend a great deal of time investigating, collecting, and analyzing financial data. As the analysis of the financial data is primarily done on computers, it's important for a forensic accountant to be highly competent on the computer, with knowledge of various software programs, including, but not limited to Access, Excel, Word and SAP.

Forensic accountants also prepare the needed reports for the litigation parties or agencies. In court proceedings, forensic accountants may be called upon to testify based on their findings. Criminals are often prosecuted based on the money trail tracked by forensic accountants.

The public sector also uses the services of forensic accountants. Many branches of local, state and federal law enforcement agencies regularly hire forensic accountants to aid in investigations.

So, how can you become a forensic accountant? First you need to finish a degree in accounting and pass the CPA examination. Aside from that, you should also get extra coursework in criminal justice, law enforcement and other legal training.

You can also pursue CFE or certified fraud examiner accreditation. According to the Association of Certified Fraud Examiners (ACFE), CFEs earn nearly 22 percent more than their non-certified colleagues. To qualify for CFE accreditation you generally must have a bachelor's degree and 2 years of professional experience in one of the following fields:

  * Accounting and Auditing
  * Loss Prevention
  * Criminology
  * Law

You can pursue online study towards becoming a certified fraud examiner through the ACFE. Go to their website at acfe.com for more information.

Upon entry in the field, you can receive around $30,000 or as high as $60,000. Experienced and senior forensic accountants can earn well over $100,000 a year.

Synonyms:  Orensic, ofrensic, frensic, froensic, foensic, foernsic, fornsic, fornesic, foresic, foresnic, forenic, forenisc, forensc, forensci and forensi are typos for "forensic."  Ccounting, cacounting, acounting, accounting, acounting, acocunting, accunting, accuonting, acconting, acconuting, accouting, accoutning, accouning, accounitng, accountng, accountnig, accountig, accountign and accountin are typos for "accounting."