| Bringing down one of the biggest mob bosses in | | | | litigation support part of a forensic accountant's |
| history, or catching thieves clever enough to | | | | job involves figuring out the amount lost by |
| stealing millions of dollars from companies. These | | | | parties in a legal dispute, and also can involve |
| tasks no longer require a super-hero with powers, | | | | testifying as an expert witness in trials (Forensic |
| but can be completed by a mild-mannered | | | | Accounting Information). As an expert witness, he |
| accountant in the rapidly growing field of forensic | | | | or she will use their extensive knowledge in the |
| accounting. | | | | field of crime fighting and financial measures to do |
| Forensic accounting is one of the most exciting | | | | many things from settling disputes between |
| and rewarding career choices available. Although | | | | divorcees to helping to convict criminals who |
| most people may not know exactly what being a | | | | have, through fraud, stolen assets from |
| forensic accountant entails, just about everyone | | | | companies or other people. |
| knows of some of the most famous forensic | | | | The second main component of a forensic |
| accountants; such as Sherlock Holmes (Crumbley). | | | | accountant is investigation. This area of the |
| While he was a fictional character, Sherlock | | | | profession involves combining the abilities of both |
| Holmes, mixed his financial skills with his ability to | | | | accountants and detectives (Forensic Accounting |
| think and became one of the most famous | | | | Information). In this, a thorough knowledge of |
| detectives in history. This mixture is what makes | | | | financial measures is required, but perhaps the |
| up what U.S. News and World Report called "one | | | | most important skill correlated with forensic |
| of the eight careers to count on"(Forensic | | | | accounting is the ability to think (Forensic |
| Accounting Courses). Forensic accounting is the | | | | Accounting Information). Thinking deductively helps |
| practice of utilizing accounting, auditing, and | | | | people with accounting backgrounds take financial |
| investigative skills to assist in legal matters | | | | measures and find facts vital to catching criminals, |
| (Forensic Accounting Information). In other words, | | | | becoming detective-like. Using these methods, |
| it is an accountant that has the ability to use his | | | | forensic accountants will determine whether or |
| or her mind to look at the financials of a situation | | | | not things like employee theft, securities fraud, |
| and figure out enough details to put fraudsters | | | | identity theft, or insurance fraud have occurred |
| away for a long time. Forensic accounting has | | | | (Forensic Accounting Information). Detecting these |
| been around for centuries, and in today's world | | | | types of fraud is vital to attempting to get lost |
| the demand for it is higher then ever, and is | | | | money or other assets back, and prosecuting |
| growing more each year as the fraud it aims to | | | | those that have committed the criminal act of |
| stop increases. | | | | fraud. |
| The reason forensic accountants are at such a | | | | Sometimes a forensic accountant is not only |
| high demand is because fraud is becoming an | | | | helpful, but necessary to putting a criminal behind |
| ever-increasing problem and is becoming easier | | | | bars. Such was the case with legendary mob |
| and easier to commit. In today's society, | | | | boss, Al Capone. After years and years of |
| increased technology has given people the ability | | | | staying on the streets because no crime could |
| to commit fraud on a huge scale and get away | | | | stick to him to get through trial, it was finally an |
| with it fairly easily. According to a study by the | | | | accountant that caught him. The thing that finally |
| Association of Certified Fraud Examiners (ACFE), | | | | put him behind bars was when the IRS charged |
| organizations lost an estimated $600 billion this | | | | him with tax evasion (Crumbley). Forensic |
| year alone to fraud (Synovate, 7). Because of the | | | | accountants are becoming more and more |
| internet, almost anyone's personal information can | | | | necessary in our life to stop criminals, and will |
| be easily attainable, making identity theft one of | | | | forever be in demand, as long as there are still |
| the biggest problems today. ID theft in the United | | | | people out there committing types of fraud. |
| States in 2003 affected 9.91 million people who | | | | With a daily life fit for a Hollywood movie, and an |
| lost a total of $5 billion, and also businesses, which | | | | average salary with 6 figures, forensic |
| lost $47.6 billion (Synovate,7). The cost of fraud is | | | | accountants easily dispel the rumors of accounting |
| at an all time high, and forensic accounting is one | | | | being one of the more boring professions out |
| of the best ways to stop fraudsters in their | | | | there. With such an attractive career, accounting |
| tracks and recover all of that lost money. | | | | might even make it some kid's, "when I grow up |
| Forensic accounting is a rapidly growing career | | | | I want to be.." lists, right under a super-hero, of |
| path designed to combat the growing fraud. | | | | course. |
| According to Accounting Today, nearly 40 | | | | Works Cited |
| percent of the top 100 accounting firms in the | | | | Crumbley, Larry. "Forensic Accountants Appearing |
| United States are now expanding their | | | | In the Literature." Louisiana State University. |
| forensics-related services (Vogt). Forensic | | | | Louisiana State University. 1 Apr. 2008. |
| accountants are employed by everyone from | | | | Synovate. "Federal Trade Commission-Identity |
| divorcees to uncover hidden assets, to | | | | Theft Survey Report." Synovate. Sept. 2003. 1 |
| government agencies like the FBI, the Internal | | | | Apr. 2008. |
| Revenue Service, and the Bureau of Alcohol, | | | | Vogt, Peter. "Forensic Accountants." Young |
| Tobacco. Companies also often employ forensic | | | | Money. MonsterTRACK Coach. 1 Apr. 2008. |
| accountants to track down interior frauds that | | | | "Welcome to Forensic Accounting Careers |
| normal auditors might not be able to find. For | | | | Information, and the Forensic Accounting |
| some companies, as Michael Kessler, president and | | | | Directory." Forensic Accounting Information. School |
| CEO of Kessler International says, "fraud can | | | | of Accounting, Florida Atlantic University. 1 Apr. |
| sometimes be the difference between a | | | | 2008. |
| company posting a profit or a loss," (Vogt). | | | | "Why Take Online Forensic Accounting Courses |
| Forensic accounting centers around two main | | | | At FAU?" Forensic Accounting Courses. School of |
| areas, litigation support and investigation. The | | | | Accounting, Florida Atlantic University. 1 Apr. 2008. |