Monday, May 25, 2020
Skills of a Forensic Accountant - 1348 Words
Forensic Accountant Skills Forensic accountants need many skills, but the top five most important skills are analytical ability, a desire to be ethical, an interest in being detail oriented, being insightful, and being responsive. All of these skills are seriously needed by those who are focused on forensic accounting, since these individuals must look into fraudulent and suspicious activity that is seen in a company (Buckhoff Schrader, 2000). Additionally, some companies hire forensic accountants in order to make sure there are no fraudulent or suspicious activities going on even if everything seems completely normal (Buckhoff Schrader, 2000). Working closely with people in law enforcement and working as expert witnesses when there are trials taking place are also other common activities for those who make their living as forensic accountants (Peterson Reider, 2001). In order to really understand the value of what forensic accountants do, it is important to discuss their most important skills in more detail. The analytical ability that the forensic accountant has is quite likely the most important skill he or she could possess. Anyone who is very analytical and also good with numbers would do very well as a forensic accountant (Buckhoff Schrader, 2000). There are many other careers in which that person could also get involved, but accounting on a forensic level is a great choice. There is more to working as a forensic accountant than just being analytical,Show MoreRelatedThe Role and Responsibilities of a Forensic Accountant1605 Words à |à 6 PagesIntroduction Accounting skills are useful for companies and individuals who are trying to maximize their profits and maintain a competitive advantage, but forensic accounting can help bring justice and peace of mind for many others by illuminating financial processes that can help explain criminal actions and behaviors. The purpose of this essay is to describe the five most important skills a forensic accountant may possess in order to become successful. This essay will describe each one of theseRead MoreForensic Accounting Research Proposal647 Words à |à 3 PagesRESEARCH PROPOSAL 1. Scope of Research Forensic Accounting and Financial Criminology 2. Proposed Research The Needs of Good Forensic Accounting Skills in Public Sector Working Environment 3. 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Forensic accountants are specialists who work with financial information such as business records, bank statements, and tax returns for the purpose of finding valid data. This data is used to prepare their reports. The report is prepared in a manner that will be easily understood by the attorneys to use in research, negotiationsRead MoreForensic Accounting1497 Words à |à 6 Pagesprofessors from Rider College interviewed over 150 lawyers, Certified Public Accountants (CPAs) and accounting educators. The study identified sixteen skills needed by forensic accountants. According to the study, the five most important skills are analytical skills, basic accounting skills, problem solving skills, data analysis skills and interviewing skills (McMullen Sanchez, 2010). Forensic accountants need analytical skills because as they review financial reports and other source documents, theyRead MoreForensic Accounting : The Field Of Accounting1585 Words à |à 7 Pagesfinancial, governmental, private, and forensic accounting. So as you can see, even in this extremely specialized field you can participate and work in various accounting sectors. Today, we will focus on the topic of forensic accounting which is not only a newer field of accounting but has very intriguing concepts and reasons to why it was created. So while exploring the many facets of forensic accounting we will study multiple topics such as: what is forensic accounting and how it was created, andRead MoreAnalysis Of The Article Balancing The Books 1172 Words à |à 5 Pagesnew class of specialized accounting professionals- Forensic Accountants. This manuscript takes an in-depth look at the use of forensic accountants that are used in litigation and their perceived effectiveness. Under standing how effective forensic accounting experts are that have been used in litigation in the past will, assist users and legal counsel when considering whether to engage forensic accounting experts in the future. The Role Forensic Accounting is now recognized as an isolated positionRead MoreThe Factors of a Good Fraud Examiner926 Words à |à 4 PagesThe development of fraud examiner/forensic accounting profession since the 2001 Enron Fraud After the Enron and WorldCom business climate, there came a new US federal law called Sarbanes ââ¬â Oxley Act. The SOX contains 11 titles that describe specific mandates and requirements for financial reporting. It makes corporate executives more accountable for their actions. Companies invested a tremendous amount of resources, time, and effort in order to comply with the requirements. It clearly improved the
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