Forensic Accounting May Be More Exciting Than You Think   by Matthew Kerridge

in Finance / Accounting    (submitted 2010-02-18)

The field of forensic accounting involves the integration of basic accounting, auditing, and investigation. Forensic accountants are taught to utilize all these skills when dealing with a situation that needs to be understood and resolved. They the provide and analysis based in all these fields that is suitable for presentation in a courtroom.
Forensic accountants are taught to look past the numbers while comprehending the entire situation that created these numbers. They are hired to interpret, analyze and summarize very complex business situations and disputes. You can think of them more as investigators or detectives than accountants.
As a forensic accountant you may be able to open your own private practice. However, forensic accountants often work for large financial institutions, insurance companies, or government agencies. Large accounting companies usually have forensic accountants on staff.
Forensic accountants are a great aid in legal matters. They help lawyers prepare and present cases. They can appear as expert witnesses for both sides. They are often essential in quantifying damages in a case and then finding the best way to resolve the dispute and settle the case.
When using their investigative skills, they review situations and disputes. They then determine optimum ways to solve these issues. They have the tools to detect possible crimes such as insurance fraud, securities fraud, employee theft or identity theft. They may also be able to suggest methods to prevent future loss.
There are certain characteristics that most forensic accountants have. They are curious, creative, organized and persistent. The also must be ethical and honest while using solid professional judgment when making decisions.
If you enjoy solving problems, creating solution, and resolving disputes, forensic accounting might be the right field for you. You would focus in depth investigations, litigation support, and resolving complex disputes. This field is growing rapidly and offers many opportunities. There is some money to be made in this field.