Forensics is not just all about dead bodies. You may be surprised to know that forensics is basically the analysis of a crime using scientific evidence and goes with impartiality in applying and delivering the methods of law.
On one hand accounting is the analysis of numbers and generating financial reports for the benefit of a company or a private entity. Putting together, forensic accounting is the scientific investigation of a crime pertaining to the financial aspect of a company. It is a procedure of identifying fraud, cheating or any malicious acts in a business or company that could possibly entail bankruptcy or financial misuse of the company’s budget and assets.
The Role Within Forensic Accounting Jobs
Forensic accounting jobs are quite tedious jobs that need to be performed in a manner that no interest of any party is prevalent. As any law enforcing person does it, a person within a Forensic Accounting Jobs role must be unbiased and should only focus on the subject of his investigation. Their role is well-anticipated in businesses, organizations, private companies and in government agencies. They are hired to do financial reports, check the balance sheets, give due information on the income statements and make a report on retained earnings.
Benefiting From Forensic Accounting Jobs
Looking closely, forensic accounting jobs are a typical job for an accountant. All of the mentioned tasks are but subjects to the several years of sitting in most accounting subjects. The financial reporting is already a task that an experienced accountant can do while his eyes closed. Reiterating, the job needs an experience accountant. So what more does it take to become a forensic accountant?
Being into the profession where legal investigation is the main focus of attention, a person has to be well-versed on the financial business legalities. Adjunct to this, forensic accounting jobs require any person who is a graduate of accounting or any degree and has at least 24 hours of accounting subjects. In applying, it is an additional point if the person is a Certified Public Accountant or holds a master’s degree in accounting. Further to being a forensic accountant, another level of job that requires a more experienced individual when it comes to fraud investigation, money laundering and criminal investigation techniques is the Certified Fraud Examiners. From the level of an accountant they can jump up to this higher level if they pass a 500 question examination for certification and if they have undergone the extensive training in identifying and investigating illegal financial activity inside the company or business. Aside from these, they should be identified as persons of extremely good moral character and works professionally in all manners possible. They should also be proven well-educated and experienced in the job.
Forensic accounting jobs give a promising career to aspiring successful accountants. This can serve as a stepping stone to a much higher income earning accounting job. Salary survey has shown that this type of job is applauded for having a salary range from $30,000-$60,000 per annum. Certified Fraud Examiners on one hand get a minimum of $180,000 a year.