Accounting Blog :: CPA & CPE » Forensic Accountants http://www.listaccounting.com/blog Sat, 17 Sep 2011 06:37:06 +0000 en hourly 1 http://wordpress.org/?v=3.3.1 The Role of a Forensic Accountant http://www.listaccounting.com/blog/the-role-of-a-forensic-accountant/ http://www.listaccounting.com/blog/the-role-of-a-forensic-accountant/#comments Wed, 27 Oct 2010 06:39:54 +0000 Tina Young http://www.listaccounting.com/blog/?p=51 A forensic accountant will often find himself testifying under oath in an effort of discerning where, who and why the money is owed, sometimes who stole the money and even whether or not money was stolen at all. In order to come to these conclusions, they must be able to accurately, professionally and legally investigate the evidence. This evidence is usually in the form of bank records, reports, company records, spreadsheets, and other documentation. Those professional accountants who specialize in forensic accounting will find themselves investigating white collar crimes. They will often be called upon to verify the degree of fraud and/or embezzlement. Further, they will examine bankruptcy filings to ensure they’re both legal and accurate and will often mediate contract disputes. Money laundering is also an area where forensics and accounting come together – all in an effort to seek the truth.

Accountants, including forensic accountants, require at a minimum, a bachelor’s degree in accounting. Certification and licensing compliance are mandatory, as is a willingness to stay current on local, national and even global laws and regulations. An unblemished history is often required, depending on the position and the employer. After all, accountants must ensure accuracy and efficiency. If their reputations are marred in any way, it weakens a company’s stance in a legal proceeding. Technology is another crucial area a forensic accountant must master. Because of the ever changing digital environment, those who are most successful in this specialty are the ones who stay current with the many advances. They must be able to literally “read between the lines”. The latest in both computer hardware and software are must-haves as is the right support personnel.

The legal team will work closely with the financial minds in an effort to put together a solid case that will either prove a client innocent or prove money is indeed owed him. Of course, there are those times when the evidence proves anything but. A professional accountant will ensure the information, good or bad, comes to light. Those who have no ulterior motives and who are focused on the truth are the ones who will enjoy the most success. Whether it’s a divorce proceeding or a commercial or international litigation case, forensic accountants work to level the playing field in an effort of ensuring no injustices are done or in some cases, allowed to continue. For those who choose this remarkable career choice, they agree it can be both rewarding and emotionally draining. It takes a level of commitment few other fields require and for those who operate by legitimate ethics and an honest desire to seek and reveal the truth, accounting is a dream career.

]]> http://www.listaccounting.com/blog/the-role-of-a-forensic-accountant/feed/ 0 Forensic Accountants and Services http://www.listaccounting.com/blog/forensic-accountants-and-services/ http://www.listaccounting.com/blog/forensic-accountants-and-services/#comments Mon, 04 Jan 2010 08:49:07 +0000 John Man http://www.listaccounting.com/blog/forensic-accountants-and-services/ Forensic accountants are people who specialize in looking at the specifics of a financial situation and breaking down just how much value is in one thing or another. This service is valuable in all sorts of disputes and can save you a great deal of money or heartache.

One of the most common purposes for using a forensic accountant is when you need to decide about funds from a divorce. In many cases, these people can be used to determine just how much a person’s lifestyle should cost, so that the court can assess a certain amount of money in support. In this case, they take a realistic look at how a person lives by breaking down all of their spending. Many times, this is the way that messy divorces end up getting settled, since the two parties cannot come to an accord on just what is needed. Forensic accountants are taken very seriously by the courts, and they can even be used to break down the money side of certain crimes.

A forensic accountant can be used in that case to dictate on fraud or something of the like. In cases where money is involved and there is some question over what has been spent, they bring in the experts. These individuals are not just regular accountants, either. They do much more than just look at numbers and spending on a spreadsheet. In addition to being able to count well, they also understand financial reporting systems and the latest investigative measures, too. All of that knowledge is mixed together in order to take action when the time comes and when there is a need to get to the bottom of a difficult situation.

Using a forensic accountant can be a really good way to make sure that things get handled professionally and quickly. By choosing the service right out of the gate, you can save a lot of time that might have been wasted by fighting over the financial details of a certain situation.

At BTG Forensic , a member of the Begbies Traynor Group. They specialise in forensic accounting, financial investigation and valuation expertise, providing skilled, timely and cost-effective input into dispute issues for businesses and individuals. Forensic accountants at BTG Forensic work closely with lawyers, insurers, regulatory authorities and corporate entities, including the Recovery and Turnaround clients of their insolvency practice, Begbies Traynor. BTG Forensic team operates from offices in Edinburgh, Glasgow, Leeds, London, Manchester and Plymouth, with back-up support provided by Begbies Traynor Group offices throughout the United Kingdom.

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