| Forensic Accounting is not new to the job world. | | | | in investigations in divorces, bankruptcy, and |
| Forensic accounting is what helped Elliot Ness put | | | | regulations accountability. Due to the nature of the |
| Al Capone behind bars for tax fraud. The | | | | work, forensic accountants are often called upon |
| increasing amount of white collar crimes of | | | | as expert witnesses. They also may work with |
| embezzlement, securities fraud, banking and | | | | professional organizations to develop auditing |
| investment misappropriations, organized crime | | | | procedures and regulations, act as advisors to |
| activities, and ponzi schemes have caused the | | | | audit committees and assist in investment analyst |
| increase in stricter accounting governmental | | | | research. |
| regulations. With the increase in regulations, comes | | | | Education |
| the increase in demand for applicants with strong | | | | Most forensic accountants have a bachelor's |
| knowledge of accounting procedures and financial | | | | degree in accounting with a CPA designation, and |
| experience coupled with strong analytic and | | | | many have additional academic preparation in |
| investigative skills to enter the career field of | | | | fields like criminal justice or law enforcement. |
| forensic accounting continues to grow. | | | | Many colleges and universities now offer a |
| What is Forensic Accounting? | | | | graduate degree in Forensic Accounting. |
| Forensic accounting uses legal, technology, and | | | | Salary |
| investigative accounting and auditing techniques to | | | | Forensic accountants can earn anywhere from |
| either prevent or expose financial fraud and illegal | | | | $30,000 to $60,000 a year in an entry-level |
| practices. Forensic accountants work with | | | | position in the forensic accounting field. With |
| government agencies such as local law | | | | experience, forensic accountants could see an |
| enforcement, FBI, and the Internal Revenue, the | | | | annual salary of six figures. |
| Bureau of Alcohol, Tobacco and Firearms. These | | | | Job Outlook |
| government supported forensic accountants | | | | 2008-09 Occupational Outlook Handbook: |
| investigate everything from money laundering and | | | | Increased focus on and numbers of financial |
| identity-theft-related fraud to arson for profit and | | | | crimes such as embezzlement, bribery, and |
| tax evasion. Businesses, law firms, insurance | | | | securities fraud will increase the demand for |
| companies, financial and other organizations also | | | | forensic accountants to detect illegal financial |
| use the services of forensic accountants to | | | | activity by individuals, companies, and organized |
| expose or prevent internal fraud. These | | | | crime rings. |
| specialized forensic accountants may be involved | | | | |