| While traditional accountants are hired to simply | | | | underwriting concerns. |
| look at the numbers, forensic accountants are | | | | Forensic accounting is one of the fastest growing |
| hired to look beyond the numbers. For this | | | | accounting fields, and it has generated an |
| reason, they must possess considerable | | | | increased amount of public attention because of a |
| knowledge of accounting, auditing, investigative, | | | | proliferation in white-collar crimes like money |
| and legal practices. These professionals are | | | | laundering, fraud, and embezzlement. The |
| indispensable in assessing whether or not financial | | | | accounting scandals at Enron in 2001 generated |
| statements and other accounting records reflect | | | | significant media coverage, and accountants have |
| reality. They also play a key role in mitigating the | | | | been actively involved in tracing global terrorist |
| risk of future fraudulent activities by | | | | activities since the 9/11 terror attacks. |
| recommending and implementing stringent system | | | | A bachelor's degree in accounting is required for |
| controls through various types of enterprise risk | | | | employment as a forensic accountant, and many |
| management and audit committee advisory | | | | in the field have earned CPA certification as well. |
| services. They are typically offer their clients | | | | There are even Certified Fraud Examiner (CFE) |
| expert witness testimony and discovery | | | | and Certified Forensic Accountant (CrFA) |
| assistance during trials as well. | | | | certifications available for those wishing to pursue |
| They are often hired to work on corporate | | | | this career field. These accountants are employed |
| mergers and acquisitions (valuating business assets | | | | in private corporations, police departments, banks, |
| and verifying inventories), divorces (determining | | | | law firms, insurance companies, and government |
| equitable income distribution and child support | | | | agencies such as the IRS, the FBI, and the CIA. |
| payments), and personal injury claims (calculating | | | | The salary range in forensic accounting varies |
| economic damages and losses). Other common | | | | widely from $30,000 to $150,000 in annual |
| assignments for them include investigating | | | | compensation. They are also known as |
| matters such as identity theft, employee theft, | | | | investigative accountants, fraud investigators, and |
| securities fraud, bankruptcy claims, and | | | | forensic auditors. |