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Forensic Accounting

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Forensic Accounting
Forensic Accounting in Practice: Forensic Accountants: Fraud Busters
A forensic accountant is part investigator, part auditor, part attorney, and part accountant (Levanti, T.). Due to the increase in high-profile cases of companies and individuals, forensic accounting is a growing and popular field in the business and forensic subjects. A forensic accountant is someone who is often retained to analyze, interpret, summarize, interviews and present complex financial and business related issues in a manner that is both understandable and properly supported (Zysman, A.).
Forensic accountants usually work in a public practice or are employed by insurance companies, banks, police or government agencies. They are to investigate and analyze any financial evidence, communicate their findings in reports or documents and assist in legal proceedings, such as testifying in court as an expert witness (Zysman, A.).
Determine 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.
I think the five most important skills that a forensic accountant needs to posses are to be: (1) analytical, (2) detail-oriented, (3) ethical, (4) responsive, and (5) insightful (Davis, Farrell & Ogilby).
Analytical
The need to be analytical in a forensic accounting engagement may be the most important overall characteristic, without which other traits would be hard to develop (Davis, Farrell & Ogilby). Being analytical allows you to apply logical thinking in gather information in your work, which is necessary for being a forensic accountant.
Detail-Oriented
To be detail-oriented is a must for not only a forensic accountant, but in every job out there. Details are what make your work and workload important. A forensic accountant must be able to be patient and read and go through lots of papers, analyzing every


References: Candea, M. Ethics for Forensic Accountants. Retrieved from http://www.ehow.com/facts_68285 29_ethics-forensic-accountants.html Davis, C., Farrell, R., & Ogilby, S. Characteristics and Skills of the Forensic Accountant. Retrieved from http://www.aicpa.org/interestareas/forensicandvaluation/resources/practai dsguidance/downloadabledocuments/forensicaccountingresearchwhitepaper.pdf Elmore, D. R. The Role of a Forensic Accountant as an Expert Consultant. Retrieved from http:// mdd.com/the-role-of-a-forensic-accountant-as-an-expert-consultant/ Levanti, T. What to Look for in a Forensic Accountant. Retrieved from http://www.nysscpa.org/s ound_advice/forensic_acc.htm Ray, L. Famous Forensic Accounting Cases. Retrieved from http://www.ehow.com/about_48155 00_famous-forensic-accounting-cases.html Zysman, A. What does a Forensic Accountant do? Retrieved from http://www.forensicaccountin g.com/three.htm
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