What Is Forensic Accounting?

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Forensic accounting is a specialization of accounting that uses auditing and investigating to determine if accounting fraud has taken place within a company. Find out how forensic accountants check accounting books to make sure the numbers match with information from a forensic accountant in this free video on careers.

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Video Transcript

What is forensic accounting? What does it mean? And why do we need it? So let's start with what is forensic accounting. It is a specialization of accounting that's been around for over 40 years. It's a relatively new process. It's a specialization in accounting that takes auditing, investigating and all the accounting of a company and we're going to determine if there was fraud involved and we're going to determine if the books are correct, if the numbers are correct because that's what forensic accounting is. Checking the books to make sure the numbers match. What we put in and what we have on file and what we have in inventory really is what the books say it is. That's forensic accounting. Forensic accounting has evolved massively because of international companies, open borders, the IT, the Internet, we are an age of information so we had to make sure that we learn better, we understand better and we have to listen better to people who try to steal from us. There are so many different ways of stealing and fraud examiners, forensic accounting, they put a stop to it hopefully. But remember, if you want to your company healthy, look at your books. See you soon, thank you.

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