Skills of a Forensic Accoutant

1593 Words4 Pages
bulb-icon

Recommended: Research proposal on forensic accounting

Introduction
In this paper you will read about the most important five (5) skills that a forensic accountant needs to possess and evaluate the need for each skill. The presentation includes discussion regarding the relationship between the skill and its application to business operations.
The paper describes the role of a forensic accountant within a courtroom environment, the legal responsibility a forensic accountant has while providing service to a business and finally, The paper also presents two (2) cases where forensics accountants have provided vital evidence in a case and summaries of the two cases and the importance of the forensic accountants’role during each case.
The most important five (5) skills that a forensic accountant needs to possess and evaluate the need for each skill. Be sure to include discussion regarding the relationship between the skill and its application to business operations.

To begin with, we define forensic accounting as the specialty practice area of accountancy that designates engagements which result from real or anticipated disputes or litigation. The word Forensic" means "suitable for use in a court of law", and it is to that standard and potential outcome that forensic accountants generally have to work. Professionals working in this career of forensic accountanting have many responsibilities, and they can be of critical importance in providing the most accurate, comprehensive, and efficient breakdown of financial data (Rothberg A. F,2012). According to Rothberg they investigate white collar crimes such as business fraud, incorrect financial reporting, and illegal investment schemes. Established core competency frameworks that a forensic accountant must demonstrate include1] strategic crit...

... middle of paper ...

...alculate the values and provide evidence of the hidden assets. This findings of their analytical report and evidence presented were accepted by the judge and saved time fordecision-making.

Conclusions
This research has helped me gain a clearer understanding of the most important five (5) skills that a forensic accountant needs to possess and evaluate the need for each skill for the varied investigative matters for which they are retained. This together with the case study has presented the importance of forensic accountants in present day business world. I would like to recommend that forensic accountants be engaged by the plaintiff/prosecution, defense, or by the court to educate the judge about fraud-related matters relevant to the matter under dispute; and both private and public organizations hire the services of forensic accountants to avoid loss and fraud. .

Show More
Related

  • Forensic Science In The Real CSI

    841 Words  | 2 Pages

    At least 99 percent of the time, forensic science is reliable and deem accurate. Although four experts that matched Brandon Mayfield’s fingerprint to the fingerprint on a bag at the crime scene, they in fact misidentified the evidence and Spanish police found out that the latent fingerprint actually belong to be an Algerian. This shown that forensic experts and attorneys can definitely be wrong; furthermore, it convey that not all evidence presented in the case is subjected to be infallible and there is a possibility for committed error. Leah Bartos, a UC Berkley graduate student with a Journalism degree, conducted an experiment to understand the process of becoming a certified forensic consultant. She had no prior knowledge in the forensic discipline, but became certified after she passed the open book exam and sent ACFET her bachelor degree, resume, and references. The ACFET exam have a 99 percent pass rate; therefore, it is criticized for creditability of its certified graduate and branded a diploma milling organization for-profit. Attorney can argue the weakness of the forensic evidence presented, hence forensic science call for bad science and can definitely be misuse in our adversarial legal

    Read More

  • Forensic Science Technicians

    942 Words  | 2 Pages

    ... needs that descriptive writing to help explain finding and the orally to provide their expertise in a case by explaining with word their findings. Excellent social skills being able to get along well with other is important , because one may be placed in an in job environments that require several tech to work in different areas of the same case, pull all of pieces of the puzzle together. Another skill that is very important is being able to control one’s own emotions (Dillon .H, 1999). The reasons this at the top of the list of importance because forensic science technician have to deal with some gruesome situations such as seeing dead bodies, removing blood, objects, seeing the crime scenes so it is imperative to keep control of personal emotions in this career choice because you could find oneself in the presences of family members of the deceased.

    Read More

  • Crime Scene Technician

    1286 Words  | 3 Pages

    In a world of violence and antagonism every day a crime is committed every second of the day. The job of a crime scene technician is to thoroughly study and solve these cases. Is it actually possible to be able to discover who committed the crime? One fiber or clothing or even a strand of hair can lead you to who did it. Solving a crime all depends on putting all the pieces together to form a picture of what could have happened. Crime scene technicians are able to properly observe, document, and collect evidence to find out who committed the crime.

    Read More

  • A Career: The Career Of A Forensic Detective

    848 Words  | 2 Pages

    I chose to research the profession of a homicide detective. This profession interests me because I find solving a puzzle satisfying, by picking up the pieces (evidence) and fitting them together I can solve the mystery of the homicide. This of course is something I will have to work toward, as I cannot become one right out of the gate. First I will have to be a police officer. I have to be a police officer first because I need to gain experience in the criminal justice world and with victims/ suspects. Depending on the town I choose to pursue my career in I could have to start as a patrol officer or at a jail. I am doing things now to try and set myself apart from other candidates so if the time does ever come for a promotion I can be one step

    Read More

  • Crime Scene Investigator Research Paper

    977 Words  | 2 Pages

    In the CSI field, CSI workers must be very accurate about details and properly collect different forms of data and evidence (Crime 1). CSI workers must be able to write forms

    Read More

  • Skills for Criminal Investigation

    535 Words  | 2 Pages

    1. What is the difference between a. and a. Method of inquiry is based on gathering all the facts in a criminal investigation, such as physical evidence, witnesses and records (Osterburg 2010). Methods of inquiry are ways an investigator gathers the information for a particular case they are investigating. In a criminal investigation, the method of inquiry follows five simple words, who, what, when, where, and why, and lastly how. Methods of inquiry can also be very helpful when a crime scene has to be reconstructed.

    Read More

  • The Job of Forensic Scientist

    566 Words  | 2 Pages

    The education level chosen depends on what kind of forensic job you are interested in and what salary you are going for. Most entry-level forensic positions require a bachelor’s degree in forensic or natural science (see Anne 1996). Undergraduate programs consist of toxicology, biochemistry, and criminal justice classes. The American Academy of Forensic Sciences also recommends English classes. This is because forensic scientists need very honed written and oral communication capabilities to write detailed reports and testify to physical evidence in court.

    Read More

  • Ponzi Scheme Essay

    1256 Words  | 3 Pages

    ... associated to civil disputes. Forensic accountants are also identified as fraud investigators, investigative accountants, forensic auditors or fraud auditors.Forensic accountants are also increasingly playing more proactive risk reduction roles by devising and performing extended procedures as part of the statutory audit, acting as consultants to audit committees fraud deterrence engagements, and aiding in investment analyst research.

    Read More

  • Business Plan For A Mobile Forensic Laboratory Service

    2757 Words  | 6 Pages

    The transitional growth in the forensic science sector has not been without challenges. Though the world has experienced increased capabilities and scientific knowledge, which has led to faster investigations and results, many forensic experts have argued that forensic laboratory testing, in the light of 21st century technological advancements, is yet to meet the expected rate in quick available testing and analysis (Mennell & Shaw, 2006). This is with respect to the growing rate of crime and the high demand of quick crime scene testing and analysis. In the science of crime scene, analysis and interpretation of evidence is majorly dependent on forensic science, highlighting the change in the role of forensic sciences (Tjin-A-Tsoi, 2013). In the business of forensic science, time is beginning to play important role in the evidence testing and analysis which is becoming crucial in reducing ...

    Read More

  • Accounting Scandals: The ENRON Scandal in 2001

    1233 Words  | 3 Pages

    Accounting ethics has been difficult to control as accountants and auditors must keep in mind the interest of the public while that they remain employed by the company they are auditing. The accountants should take into account how to best apply accounting standards when company faces issues related financial loss. The role of accountant is crucial to society. They serve as financial reporters to owe their primary constraint to public interest. The information provided is critical in aiding managers, investors and others in making crucial economic decisions. An accountant is responsible for any fraudulent financial reporting. Some examples of fraudulent reporting are:

    Read More

  • Forensic Accounting

    2273 Words  | 5 Pages

    When I hear the word ‘Forensic’ the idea and image of a homicide investigation in which evidence gathered is analyzed at a laboratory to determine ‘who done it’. Shows like CSI, Bones, Law and Order depicts the forensic aspect in their broadcast. Being a registered nurse, another thought comes to mind when hearing the term ‘forensic’. I like to watch Dr. G medical examiner on the Discovery channel. That is a reality show regarding investigative research on how a person died. This is done by performing an autopsy and analyzing the pathological reason for a death to determine if foul play was involved. However, I rarely placed the thought that accounting can have a forensic aspect, too. I was always under the impression that auditors were the forensic accountants. Internal Revenue Agents to audit income tax filings to make sure all income are reported, and deductions have receipts as supporting evidence. Certified Internal Auditors to look at business operations and financial statements within a corporation to make sure internal controls are in place, financial statements are properly recorded, and government regulations have been met. External auditors perform audits for SEC compliance and to attest that the company is in good standings to ensure protection of the public interest. These auditors, in essence, would be able to detect fraud in their job when reviewing audit trails and documentations. Needless to say, I my conception have been construed. There is a whole new field of accounting that is on the rise, which specifically deals with fraud detection. This is called Forensic Accounting. This area sparked my interest.

    Read More

  • The Impact Of Accounting Fraud

    1617 Words  | 4 Pages

    ABSTRACT: The quantity of accounting fraud cases keeps on rising. Fraud is a consistent thing that will reliably be around, and in a bigger number of routes than just a single. An extensive apportionment of organizations out there fighting fraud, either from within the organization, or from outside the organization. Knowing how to manage this is essential for an organization to be productive over an extended period of time. The investigation regarding the matter of accounting fraud will utilize sources from the web and the DeVry School Library.

    Read More

  • The History of Auditing

    3399 Words  | 7 Pages

    Auditing has been the backbone of the complicated business world and has always changed with the times. As the business world grew strong, auditors’ roles grew more important. The auditors’ job became more difficult as the accounting principles changed. It also became easier with the use of internal controls, which introduced the need for testing, not a complete audit. Scandals and stock market crashes made auditors aware of deficiencies in auditing, and the auditing community was always quick to fix those deficiencies. Computers played an important role of changing the way audits were performed and also brought along some difficulties.

    Read More

  • The Importance Of Forensic Science

    896 Words  | 2 Pages

    Crime today seems as if it keeps getting worse and worse, but without forensic science would we have been able to figure out some of the main details in some cases? Forensic science is any science used to help solve a case/mystery, which is very vital when it comes to criminal investigation research. While researching my project I discovered all the many tasks and difficulties that come with forensics.

    Read More

  • Forensic Science Essay

    2411 Words  | 5 Pages

    The purpose of criminal justice system is to establish guilt beyond reasonable doubt and for this purpose forensic evidence has apparently played a major role. But looking at the present scenario, it can be observed that the basic purpose or rather the advantage of forensic evidence over other evidences seem to have been rendered as defeated. As the certainty, which was offered by such evidence is not fully reliable and has been construed wrongly by the courts. Hence it can be observed from above mention points that forensic science has failed in providing a better administration of criminal justice system.

    Read More

More about Skills of a Forensic Accoutant

Open Document