Forensic Accountants and Auditors Job Description: Employment Opportunities, Wages and Earnings, Required Skills and Education, Job Outlook
Submitted by: Cheska Davenport
Job Overview: Forensic accountants and auditors, also known as investigative accountants and certified fraud examiners, are persons who apply accounting principles and concepts to check on claims made in litigation. Just like other accountants and auditors, these investigators are taught to analyze and verify various financial records, only that their goal is to identify documented financial wrongdoing. They prepare repots which may be used for civil and criminal trials and formal argumentation.
Education, Knowledge and Training Required: Persons who wish to become forensic accountants and auditors should take up degrees in accountancy, business administration or banking and finance. They undergo the usual training to become the typical accountants, and from there they can be hired as accountants and auditors for the field of forensic science. Corporate or insurance lawyers may also find a good career in this occupation, as they are already knowledgeable not only in accountancy and money matters, but also in the legal procedure. Training is usually done on the job, and it begins once they start handling cases for investigation.
Skills and Abilities: Forensic accountants and auditors act as detectives of the financial realm. They must have the knack for investigating things, and they should be curious by nature. They should have the eye for detail and be meticulous about gathering facts and information about a particular case, as well as the legal processes which can be applied on the subject. They must be able to work under pressure and submit to deadlines on time. They should also have excellent written and oral communication skills, and they should show confidence and self esteem especially when dealing with others involved in the case they are working on.
Tasks: Forensic accountants and auditors work just like regular accountants and auditors hired in a business firm. They compile, verify and analyze financial records and taxes, as well as examine books and check for balance of statements. However, they use their accounting skills to prepare evidences and their clients for trials.
Most forensic accountants and auditors follow paper trails such as financial documents which can be used as evidence for a given litigation. Forensic accountants review financial and business documents relevant to a given case, as well as interview the people involved. They also assemble third-party information, such as comparable industries or damages caused by financial errors or violations. They also help attorneys with their cases by preparing reports on the financial affairs of a given person, company or firm involved in the litigation process. Forensic accountants and auditors evaluate claims which may be fraudulent, assess a company’s financial records for transparency and accountability, as well as assess claimant’s loss of income due to certain problems.
Earnings and Job Outlook: The average annual salary of forensic accountants and auditors is $52,210, and this figure is based on the accountant’s experience, quality of work and years in the industry. The type of trial procedure is also a factor, especially if the case involves high profile personalities and big sums of money.
Cheska Davenport is a career search strategist who focuses on creating power resumes and providing job search advice that aim to help individuals achieve their target goals in the job market.
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Word Count: 526 Date: Tue, 26 Oct 2010 Time: 4:33 AM
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