Discover the world of forensic accounting
“You have an external auditor – that’s like a guard dog. Maybe a bulldog,” he said. “An internal auditor is a seeing eye dog. A forensic accountant is a bloodhound.”
– Dr. Larry Crumbly, Editor, “Journal of Forensic Accounting”
With the growing complexities of modern-day businesses, accounting professionals are increasingly asked to assist in financial and business-related investigations.
But, what is forensic accounting, and why is its popularity on the rise?
Forensic accounting: job description
Specialising in analysing and investigation financial statements for irregularities, a Forensic Accountant is dedicated to finding any material that may indicate fraud, and if found, may have to take the stand in a court of law to testify for the cash crimes.
Like a Lawyer for money, a Forensic Accountant will reconstruct a series of events and activities involved in the financial crime, and create presentations in support of legal cases.
Daily duties of forensic accountants
A Forensic Accountant spends their days:
- Auditing records
- Investigating inconsistencies
- Tracing assets
- Interviewing individuals responsible for creating, contributing to or reviewing records under analysis
Traits, characteristics and skills of forensic accountants
As a Forensic Accountant, you need to have your mind on the money (literally). A head for numbers is also often accompanied with the following skills and traits:
Becoming a Forensic Accountant
Take the first step into the world of numbers like the Diploma of Accounting FNS50215. Designed for individuals after a long-term career in accounting, this qualification equips you with the most effective communication, leadership and management skills needed to lead the financial sector.
The Diploma of Accounting takes you through the advanced practices of accounting, including how to prepare financial and business reports for corporate entities and management, maintain accounting systems, process financial transactions and extract interim reports.
Once grounded in the industry, you have the freedom to move forward and specialise in forensics.