Some schools may offer an accounting degree with forensic accounting certification. Forensic accountants can work within more traditional financial sector companies, such as public accountancy commercial damages expert witness firms, insurance companies or banks. Because of their unique skills, forensic accountants can also be called upon to testify in court as expert witnesses in fraud or embezzlement cases.
They can work with the police to collect financial information and travel to meet officers where they are in the field. They may also need to travel to crime scenes to interview suspects or collect information and paperwork. While a specific license is not required to become a forensic accountant, you can also plan to take the CFE exam to get the CFE reference. While this is not a necessary requirement to become a forensic accountant, it helps people to stand out because it has demonstrated a high level of experience in this niche area. A CFE designation can give you about 30% more salary than those without certification.
It can be hired by various employers in the public and private sector, including banks, police forces, insurance companies and government agencies. Most of the largest accounting firms, along with some smaller companies, have specialized forensic accounting departments. Financial crimes are not always clear, which means that one of the largest forensic accountants has a lot of patience. Traces of fraud are often very well hidden and forensic accounting research can be incredibly slow.
Forensic accountants in Chicago, New York and Washington, D.C. They have the largest salary difference per location, according to PayScale. A forensic accountant uses accounting and analytical skills to investigate financial transactions of a person or company. They are often entrusted as experts in lawsuits dealing with financial fraud or embezzlement. Through their training that combines accounting with the ability to see history numbers, they can use their skills to discover what those numbers are trying to hide.
Roles vary slightly by position and employer, but most forensic accountants use their forensic and accounting experience to help prevent, detect and / or prosecute financial crimes. Forensic accountants can choose from exciting careers across a wide range of industries and government agencies. It is important that forensic accountants have a combination of strong accounting and financial control skills, investigative skills and legal knowledge.