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Forensic Accountant

Forensic Accountant. Steven Auerbach. Forensic Accountant. Forensic accountants are experienced auditors and investigators of financial documents who look into fraudulent activity within a company. Hired by companies to prevent fraud from occurring in the first place.

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Forensic Accountant

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  1. Forensic Accountant Steven Auerbach

  2. Forensic Accountant • Forensic accountants are experienced auditors and investigators of financial documents who look into fraudulent activity within a company. • Hired by companies to prevent fraud from occurring in the first place. • Often used for divorce, bankruptcy, insurance claims, fraudulent claims and tracking terrorism via financial records. • Work closely with law enforcement and are often called upon to provide information in the court room.

  3. Prerequisites • Must have a minimum of a bachelor’s degree in Forensic Accounting, Business, and Finance. • Have knowledge of money laundering, insurance claims, telemarking fraud, credit card fraud, tax evasion, etc. • Good social skills, independency, credibility and attention to detail are skills needed.

  4. Application in the Law • Forensic accountants track the financial records of suspects who have been associated with crimes. • Large deposits/withdrawals of money from banks without notification are often those of illegal activities • In court, FA’s do not provide biased opinions, only facts and expertise.

  5. Enron Scandal • Enron, ranked 6th on the Fortune 500 list in 2001, filed for bankruptcy. • Total debts to stockholders and assets about $13.6 billion. • Accountants filed returns for the stockholders and assets in order to get their money back from the fraudulent company. • Revealed by forensic accountants later that Enron did not pay a single dollar of their federal income tax in 2000.

  6. Advantages and Disadvantages • Can yield high pay if you are a CFE (Certified Fraud Examiner). • Helps businesses cut back on wasteful spending. • Forensic accountants are exposed to blackmail and threats from the individuals that they help convict. • The higher your degree is, the more likely you will find a job.

  7. Employment • You can get a job as a forensic accountant in any business or law firm. • There is always opportunity for a forensic accountant because companies can always use the added security against fraud.

  8. Salary

  9. Related Careers • Document examiners • Latent Print examiners • Forensic accountants and Forensic analysts work closely when dealing with contracts, documents, and checks.

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