Forensic Accountants

Topics: Forensic accounting, Accountant, Accountancy Pages: 5 (1737 words) Published: September 16, 2012
Forensic Accountants
Helene M. Snyder
Dr. Ann Pohir-Vieth
Contemporary Business 508
August 8, 2012

Determine the most Important Five Skills that a Forensic Accountant Needs to Possess and Evaluate the Need for each Skill Students interested in the Forensic Accountant profession are required to possess many skills because this is the hottest career in accounting. People who work in this career investigate white collar crimes such as business fraud, incorrect financial reporting, and illegal investment schemes. Certain government agencies have established core competency frameworks that a forensic accountant student’s must demonstrate. Some of these skills include strategic critical thinking, problem solving/decision making, leadership, interpersonal and communication skills, and professional and ethical behavior. Strategic critical thinking is the ability to link data, knowledge, and insight together from various disciplines to provide information for making a decision and communicate a vision, strategy, goals and culture of a company. The individual should be able to articulate principles strategically, identify strengths, weaknesses, opportunities, and threats related to a particular activity. A Forensic Accountant should be able to identify and gather data from various sources to provide insight to an interpretation to make a final decision. A student that desires to be in this career must be able to transfer knowledge between situations, and analyze and prepare strategic information such as market share, customer satisfaction, competitor actions, and product innovation. As a witness in the courtroom, a forensic accountant would have to present information before the judge, jury, and the prosecutor and the States attorney in such a way that is convincing to each constituent. An individual that is able to make good judgment as well as being an innovative and creative thinker will be an effective problem solver and decision maker. Qualities one should demonstrate are being able to make reliable data evaluations, use experience to make an opinion, evaluate the significance of evidence, harmonize, and verify problems and solutions. A person interested in becoming a Forensic Accountant must adapt to new context and promote constructive change. The ability to relate “part” and “wholes”, ( Kramer, 2009) is being able to reason and analyze and manage. Reasoning and analyzing are important skills that are vital when presenting information for legal review. Leadership skills are necessary to motivate people to achieve excellence. Students should be able to influence, inspire others to reach a goal. Developing and persuading others to a course of action are leadership qualities. A person must take authority in difficult and stressful situations. Credibility is another leadership quality of a leader that shows accountability to the people they are influencing. Forensic accountants are accountable to the legal system to report their evidence after investigating a fraud. Interpersonal and Communication skills are crucial for a forensic student to relate to people. Interpersonal skill is the ability to work in a productive way with individuals in different roles for various outcomes. This individual recognizes the value of teams and accepts guidance from team leaders. The student must be able to speak freely, serve as coach or mentor and commit to a common goal. For example forensic accountants work with the police department by being a witness to testify in a trial. Professionalism and ethical behavior are always high standards for a forensic accountant to maintain. Persons in this field must possess the ability to act objectively with integrity and conscientious. This individual should be able to adapt to change, adhere to professional standards, accept professional development as a life-long process, and perform consistently under altering demands. At entry level the individual should be able to evaluate data, apply...

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