What is Forensic Accounting?
Is forensic accounting related to accounting? I am interested but I am not sure what this profile is about. Please advice.
Forensic accounting is somewhat related to accounting as accounting is a very integral part of a forensic accountant. People who are experts in the practice of accounting, auditing and have great investigative skills to assist in legal matters are known as ‘Forensic Accountants’ or ‘Investigative Accountants’. Forensic accountant is a person who has three roles, one being a part accountant, another one being a detective and the final one a legal expert. In simplified terms, a forensic accountant combines his/her knowledge of accounting and finance with law and investigates techniques to verify an illegal activity.
If you are interested in a profile which includes detective work, working close to law enforcement personnel and lawyers then this is your way forward. There is lot of learning but it’s a very prestigious job as a forensic accountant acts a watch-dog of accounts of a company, in order to keep a check on the frauds. They also use latest technology available and investigative techniques to stop fraud and its illegal practices in the fields of accounting, banking, money laundering, etc.