Career Theme: Conventional
Conventional occupations frequently involve following set procedures and routines. These occupations can include working with data and details more than with ideas. Usually there is a clear line of authority to follow.
Necessary Education: Most employers require graduates with bachelor’s degrees in forensic accountancy. However, a master’s degree in forensic accounting or auditing is preferred by most employers.
Special Training Required: Traditional accountancy principles and core practices. They must also be familiar with forensic collection, investigation, and analysis, interpretation of and testimony regarding data in a legal framework. They must also be able to use the specialized software for their work. Most forensic accountants hold a Certified Public Accountant or Certified Fraud Examiner.
Prerequisite experience needed: They must have 24 minimum credit hours of accounting. Being a Certified Public Accountant or a Certified Fraud Examiner are advantages which require exams and a lot of studying and preparation.
Job Responsibilities: Forensic accountants must analyze and investigate financial statements or reports for irregularities that may indicate fraud. They reconstruct events in fraud cases. To support legal cases, they create presentations and may even testify in court about their discoveries. They can also audit records, investigate, trace assets, and interview individuals who contributed to the financial records in question. They may also do electronic discovery and records preservation.
Industry Trend: This new generation of businesses is looking for immediate insight delivered to their portable devices, whether that is a smart phone, tablet, laptop or other mobile device. Consumers are expecting that their accounting professionals can provide this instant access to them. Businesses are also demanding that their accounting professionals provide their businesses with value through insights and analysis.
Typical Salary Range: $43,020 – $122,220 (source from U.S. Bureau of Labor Statistics, May 2017)