Oh the times, they are a-changing. In the past, news reports were filled with the usual crimes: murder, rape, robbery, etc. It seemed like all it took was one quick look to determine who was the criminal and who wasn’t. Pockmarked and menacing, everyone seemed to have a mental image of what criminals looked like.
And then the Enron scandal happened. Suddenly, criminals were in expensive business suits, boasting of Oxford degrees. That mental image of the hardened criminal? Check out the handsome and well-groomed CEOs who were suddenly revealed as hard-core frauds.
Welcome to the world of white-collar crime.
But fear not. There are specialised investigators who work non-stop to combat these educated criminals. One of these tireless workers is the forensic accountant. At first, it may seem like the term itself is an invented one. No one associates accounting with the exciting life of a criminal investigator. In white collar crimes, however, wherein the crime is against property, unearthing the paper trail to find enough evidence for a conviction really requires a tough number cruncher to get the job done.
So how exactly does one land a job like forensic accounting? At the most basic, forensic accountants must, obviously, have a degree in accounting. All accountants can apply to join this particular investigative branch in their field, but in and of itself, just accounting alone won’t be enough.
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This is because a forensic accountant also needs other skills in order to fully render their investigation. It’s not just number crunching anymore. Since the goal of this particular branch of accounting is to uncover enough compelling evidence to support litigation, other branches of study become more important.
Some forensic accountants have to take up further studies, depending on the focus of their specialisation. To understand human behaviour, for example, they may take up additional courses in psychology or sociology. Some may choose to immerse themselves in studying business and financial law.
More importantly, a lot of forensic accountants are looking into additional degrees in information technology. Notice that in this technologically advanced world of ours, nearly every single piece of data or information is stored away in a computer. Oh, if only hard drives could talk. The good thing here is that even deleted data can be retrieved, as long as you know how and have the tools to do so. This is why information technology has become a very important sub-field of study for aspiring forensic accountants.
Apart from additional studies, however, one thing that these private eye/accountants need is dogged determination. Investigations require not only the data from computers; often times, even actual, literal paper trails are required. These investigative accountants will have to literally read through every email, every receipt, every ledger, in order to find more evidence for their case.
Finally, there are no official licensure exams and standards for forensic accountants. In order to become one, you must first undergo specific training and apply for certification. Licences are definitely necessary; this particular field of accounting isn’t just another “branch” of study. It’s the closest thing an accountant can get to becoming a superhero.
Tags: Accountant, Forensic, HowTo, Quick, Want