What is Forensic Accounting?
Well, if you've ever been involved in a legal setting which required financial records to be analyzed and summarized--especially with companies undergoing a financial change, such as a takeover, lawsuits, or even a division between business owners--by a forensic accountant.
Forensic Accountants can be solo practioners or part of a forensic accounting team. Generally, these experts can be employed by law enforcement agencies, legal departments, lawyers, banks, or other financially related organizations.
Forensic accountants must have an undergraduate degree in accounting or finance AND the majority of accountants have a Master's degree PLUS continuing education is a MUST! Some universities offer a Master's in accounting with special emphasis in business administration and/or other business related degrees.
In addition, there are special certifications forensic accountants can obtain: fraud examiner, forensic accountant certification, and CPA (the majority of forensic accountants have this).Forensic Accountants can be a corner stone of an investigation, especially when financial matters are at stake. For example, a forensic accountant can be part of an investigation, diving into financial matters such as, business cash flow, banking statements, investment activities, and estate and litigation situations. Forensic Accountant can be be used either in a business setting or as part of an estate planning.