When most people think of accountants they think of old middle aged men wearing a bow tie and a button down shirt. While playing with numbers might appear boring, in some cases it can also be extremely interesting because the path the numbers take can tell a story. If you want to work in a field with numbers but want some excitement in your life you might want to take a look into forensic accounting. Forensic Accountants are responsible for analyzing, summarizing, and sometimes even testifying about complex business and financial issues. Their basic job is to take the numbers and solve a puzzle which is more intriguing than boring any day!
What They Do In A Nutshell
The basic job of a forensic accountant is to look at complex business or financial records and then interpret what they mean via careful analysis. They then summarize and present their information to the proper authorities or client depending on who hired them. Although their job may be intense, they are tasked with presenting their conclusions in a very simple and understandable way with plenty of compiled evidence to support their summary. Many times they working within the public service fields and are hired as consultants for government agencies, police forces, and similar groups. Other times they are hired by private clients as consultants such as lawyers, banks, and insurance companies.
A Breakdown in the Life of a Forensic Accountant
At some point a forensic accountant will be called in to consult on a case or the actual financial dealings of a person or business. When this happens it becomes their job to look over the financial or business matters of the client so that they can draw a conclusion to support or disprove the theory of the person that hired them. Their job is investigative in nature but they use the financial information as their main source of evidence. They will carefully analyze everything they can find or are given to find a path to the conclusion.
Many times they use computer software or create their own to perform specific analysis related to their original hypothesis. Once they reach a conclusion they will write a report, collect support documents, and sometimes even create exhibits to help communicate their findings. Depending on who has employed them they may need to testify in court about their findings.