‘How to Become A Forensic Accountant’ is a guide for those who are contemplating a career in forensic accounting. The article discusses certain important points like how do you become a forensic accountant, job profile of forensic accountants, education & training and employment opportunities which can help in ones endeavor of becoming a forensic accountant.
1. How to Become a Forensic Accountant
Move over, suit-clad, briefcase-toting accountants who work numbers within the four walls of an
office. A new and exciting breed of accountants is here: They uncover fraud, solve financial
crimes, and appear as expert witnesses in court. Their job can be filled with mystery, intrigue, and
thrills—a far cry from the image of a stereotypical accountant. They’re called forensic
accountants.
What Do Forensic Accountants Do?
Forensic accountants are people who use their accounting and auditing knowledge to investigate
white-collar crime and provide analysis that is admissible in a court of law. Although forensic
accountants have been around for some time, it’s only recently that they have come into the
public eye, owing to a rise in the number of financial fraud cases and an increasingly complex
business environment.
Given this background, the job of a forensic accountant is filled with challenges. Some of their
duties include:
• Legal investigation of a company’s financial documents
• Examination of a firm’s accounting practices to detect illegal activities
• Investigation of criminal matters like identity theft and insurance fraud
• Probing financial crimes like securities fraud, embezzlement, money laundering, etc.
• Investigating the financial angle of divorce cases
• Examining bankruptcy cases filed by individuals or businesses
• Supporting legal proceedings by participating in trials as expert witness
If you feel your adrenaline pump when you read that job description, you may want to give
forensic accounting a serious shot.
How to Become a Forensic Accountant
Forensic accounting is a specialized branch of accounting and, consequently, you need
specialized education to become a forensic accountant.
You can choose a bachelor’s degree in accounting, which is a four-year academic program
available at most universities and colleges. Some institutions offer a forensic accounting degree
or emphasis, which may include specially designed courses on the subject.
Whichever educational path you choose, your next step toward becoming a forensic accountant
is to earn your certified public accountant (CPA) license, which takes additional time and expense
outside of the degree. This involves taking a rigorous four-part examination conducted by the
American Institute of Certified Public Accountants (AICPA).
Training and Certifications
Several organizations, such as the Association of Certified Fraud Examiners and the American
College of Forensic Examiners International, also offer training and certifications for aspiring
forensic accountants. Getting additional certification from these organizations may help forensic
accountants prove their increased competency in the field and boost their prospects in the job
market.
In addition to completing training and certifications, forensic accountants should join professional
organizations to increase their credibility, as well as attend seminars and workshops to keep
abreast of the changes taking place in the industry.
2. Employment Opportunities
Forensic accountants may find themselves on the rolls of any organization that needs their
special investigative accounting skills. A diverse cross-section of organizations and industries
retain the services of forensic accountants, including law enforcement agencies such as police
departments and courts; insurance companies; banks and other financial institutions; government
bodies; and private corporations.
The U.S. Department of Labor’s Occupational Outlook Handbook, 2010–11 Edition, projects a 22
percent increase in the overall employment of accountants and auditors through 2018, so now
could be the time to enter this exciting profession. (bls.gov/oco/ocos001.htm#emply)