What is Forensic Accounting? – A Complete Beginner’s Guide
We all love reading detective stories or watching thrillers, don’t we? The way the chief investigating officer finds clues collects evidence and solves the mystery keeps us on the tenterhooks. While books and movies transport us into a world of excitement and adventure, in reality, things are far from being so exciting. More so, in the case of Corporate Accounting. Investigations do happen, mysteries are solved and cases are presented. But none of these bring a thrill to the company. These are few of the most trying times for a company when it is faced with an accounting scandal or financial fraud.
Accounting scandals are political or business scandals which arise with the disclosure of financial offenses by trusted executives of corporations or governments. These kinds of false disclosures and misrepresentations can result in heinous financial crimes. While audits are performed periodically, these are higher level scams which require a greater degree of investigation; something that can be presented as arguments in court. This is where Forensic Accounting comes into the picture.
In this article, we look at Forensic Accounting in detail –
What is Forensic Accounting?
Why is Forensic Accounting required?
Application of Forensic Accounting
Skills required for Forensic Accounting
Forensic Accounting Qualifications
Differences between Audit and Forensic Accounting
Forensic Accountant Salary
Top Forensic Accounting Firms
Roadblocks for Forensic Accounting
Case studies of Forensic Accounting
Enron: Early 2000
Tyco International: Late 2000
Organizations for Forensic Accountants
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