| I bet you no one has ever heard of 'Forensic | | | | suspects fraud as these are not effective, instead |
| Accounting' nor any professions such as forensic | | | | they want specialists whom are well verse in |
| accountant some 30 years back. However today, | | | | dealing with accounting frauds of all kind, but |
| if you get a survey company to feedback on the | | | | better still, to have the professionals to have |
| percentage of firms who really believe that having | | | | close eyes on their company's accounting |
| their own "Forensic accounting department" or | | | | procedures and policies, as well as their financial |
| "Forensic accountants" are essential and important | | | | transactions and numbers at anyone time. |
| for their company, you will be surprised by the | | | | As a company is attempting to develop its fraud |
| positive and urging demands received. | | | | prevention efforts rather than just having setup a |
| The increase in the fraud epidemic in our country, | | | | task force for fraud investigations when any |
| as well as all over the world, has led to a dramatic | | | | happened. The help from a true expert can make |
| increase for experienced investigators and | | | | those efforts lots more effective. Help on the |
| forensic accountants. Forensic accountants are | | | | front end of the process will likely help the |
| becoming more main-stream nowadays. | | | | company in the long run will definitely reduce the |
| A recent poll done by some audit firms showed | | | | need for help investigating fraud thereafter. |
| that almost two-thirds of the executives believe | | | | Companies are also more likely to pursue |
| that accounting fraud will increase over the next | | | | cost-cutting measures when the economy is tight. |
| two years. They attribute that increase to the | | | | This has inevitably reduced some of the possible |
| economic downturn, specifically lower or | | | | benefits (such as overtime allowance, shift |
| non-existent raises and bonuses, reduced job | | | | allowance, housing allowance, or even travel |
| security, and low morale among employees. | | | | allowance) or claimable bills which are made |
| Statistics tracked by the National White Collar | | | | impossible now, or even cut some 10-20% of |
| Crime Center demonstrates that arrests for | | | | remaining employees pay across the board. In |
| fraud and embezzlement go up during economic | | | | time of financial difficulties, one may get in some |
| downturns. | | | | desperate state and they will try everything to |
| Through the publication on some of the major | | | | get that extra money, even if it is through fraud |
| fraud incidents happened lately, attorneys, | | | | activities as their lives need to continue on, and |
| executives, and managers of companies, | | | | some of them have the whole family to support. |
| especially large enterprises have learned that | | | | After considering the likelihood of increasing fraud |
| these professionals are the most ready personnel | | | | cases in this bad economy situation, it is of no |
| whom to seek help with their fraud matters. | | | | surprise on the increase demand of forensic |
| Companies no longer just get their internal | | | | accountants in these recent years. |
| auditors to look things over when management | | | | |