Who uses the forensic accountants?

Forensic accounting financial investigative specialists work with financial information to convey complex issues in a way that others can easily understand. While some forensic accountants and forensic accounting specialists engaged in public practice in forensic investigations, others work in private industry for such entities as banks and insurance companies or public entities as sheriff and police services, the Federal Bureau of investigation (FBI) and the Internal Revenue Service (IRS).

Occupational fraud committed by employees usually involves theft of assets. Eclipse is most often committed fraud during the last 30 years. Employees may be involved in kickback schemes for identity theft or conversion of the company's assets for personal use. The forensic accountant couples observation of the suspected employees with physical control of assets, invigilation, inspection of documents and interviews of the individuals concerned. Experience in these types of commitments, the forensic accountant to offer proposals for internal controls to their owners to reduce the risk of fraud could be implemented.

Sometimes, the forensic accountant may be hired by lawyers to investigate the financial trail of persons suspected of involvement in criminal activity. Information provided by the forensic accountant may be the most effective way to get convictions. The forensic accountant may also be involved by the bankruptcy court when the financial information provided is suspected or if employees (including managers) are suspected to assets.

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Opportunities for qualified forensic accounting professionals abound in private companies. CEOs must now certify their financial statements are faithful representations of the financial position and performance of their companies and more are heavily dependent on internal controls to detect any errors that would otherwise have been included in these economies.

In addition to these activities, forensic accountants are called upon to determine the amount of the damage suffered by the victim, witnesses in court as an expert witness and assist in the preparation of Visual AIDS and written summaries for use in court.

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