An accountant audits a company's financial statements on an annual basis. His audit ensures that the company's financial statements reflect its current position. Forensic audits are different. A forensic accountant examines the company's books for evidence of fraud, as well as inspects the accounting system for weaknesses that could enable someone to defraud the company. His work might uncover insurance fraud, asset misappropriations, embezzlement, money laundering and other white-collar crimes.
Forensic accountants or fraud examiners often conduct investigations in conjunction with law enforcement and in private legal disputes. The field falls into two primary categories: litigation and investigation services. Basically, a forensic accountant combs through a company's records, ferreting out fraud or other financial malfeasance. It's a time-consuming process because sophisticated financial schemes require intense investigation and attention to detail. Forensic auditors often testify in court proceedings about their findings. They receive specialized training in fraud detection and data analysis to conduct their work.
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Forensic Audit Checklist
During a forensic audit, an auditor examines the financial records of a person or business, and uses specialized accounting methods to track...
What Is Forensic Accounting?
Many people, when they think of an accountant, picture a CPA slaving away in a cubicle working on tax forms. Not all...
How to Write a Forensic Audit Plan
A forensic audit is an examination of an organization's or individual's economic activities, resulting in a report designed especially for use in...
Modern Forensic Methods
Forensic Audit Techniques. According to the Association of Certified Fraud ... Forensic Science Methodology. Forensic science is rooted in established methodology.
How to Write a Forensic Report
A forensic report simply and succinctly summarizes the substantive evidence in a criminal case. ... Audit and forensic reports tend to be...
Auditing Questions That Could Be on the CPA Exam
Materials that will help you here include "Auditors Guide to Forensic Accounting," by Golden and Skalak, and "Fraud Examination," by Albrecht. ......