...Forensic Accounting Practice Bradford Clark Professor Dr. Hanners Lithonia Campus BUS 508 – Contemporary Business March 1, 2012 Strayer University Determine the most important five (5) skills that a forensic accountant needs to possess and evaluate the need for each skill. Be sure to include discussion regarding the relationship between the skill and its application to business operations. A forensic accountant is a specialist in accounting and financial systems that is trained to detect white collar fraud. Forensic Accounting is a fast growing field in the in the field of accounting. Although it has been around for a long time, it has become increasingly popular in the past few years as there have been a number of corporate scandals, stricter reporting, and internal control regulations involving public awareness and importance in the business world. With the state of the world’s economy forensic accountants are in high demand. Forensic accountants should at least possess a Bachelor degree in accounting. They should also be a Certified Public Accountant (CPA) and may possess other certifications such as Certified Forensic Accountant (CrFA) and Certified Forensic Accounting Professional (CFAP). The skills needed to become a forensic accountant include strategic critical thinking, problem solving/decision making, leadership, interpersonal and communication skills, and professional and ethical behavior. Strategic critical thinking is the ability to link data, knowledge...
Words: 1634 - Pages: 7
...Forensic Elite: Detective of Numbers Tara Albright Strayer University BUS 504 Contemporary Business February 24, 2013 Dr. Jason M. Barrett Forensic Elite: Detective of Numbers No one in the world likes a snitch. In the early 2000’s the urban campaign “Stop Snitching or Die” changed the face of whistle blowing in the United States (Masten, 2009). Neighborhood violence during the “Stop Snitching or Die” campaign increased as law abiding citizen cowered inside their homes as gun shots rang out feet away from their doorsteps (Masten, 2009). In corporate America companies faced huge financial lost as the “Stop Snitching or Die” theology spilled into boardrooms and accounting departments. The corporate world was not as brazen as the urban world killing anyone that help out law enforcement, but the results of company leaders keeping quiet about misconduct slowly murdered the American economic system. While corporate leaders played their hand at boardroom gangbanging by lying, stealing, and falsifying financial documents, the world would see snitching taken to a new level (Masten, 2009). The job of combing through those illegal financial documents would go to an elite set of men and women, called forensic accountant. Forensic accountants help America recover huge amounts of financial dollars by bring corporate leaders to justice who made illegal business decisions (Davis, Farrell, & Ogilby, 2009). Attributes of the Elite Forensic accounting/accountant (FA) involves...
Words: 2344 - Pages: 10
...assignment is Computer Forensics Investigator I picked this job because I think that is the career path I want to take. I am currently getting my degree in Information technology and want to go for a bachelor’s in information systems security. The job of a Computer Forensics Investigator is to identify and collect digital data and evidence from all sorts of media like hard drives, flash drives and even the Internet. Once the digital evidence and data our collected then the Computer Forensics Investigator must examine and analyze the evidence to find out what the data is and what it was used for. The Computer Forensics Investigator must also help with the collecting of physical evidence at crime scenes such as computers and digital media. A day in the like of a Computer Forensics Investigator would in tale of the investigator going to a crime scene and collecting of evidence and talking it back to the computer lab. Where the investigator would take the evidence say a computer and getting all the digital data off the drive where they can analyze the data and the hand any incriminating evidence over to the lead investigator to aid in the capture of the criminals. The Investigator may even need to go as far as retrieve data from the drive that has been deleted this can be a completed task in its self because it can talk days some times to retrieve this deleted data and then all the data might not be available to get a complete file. The next thing the Computer Forensics Investigator must...
Words: 570 - Pages: 3
...Introduction With the recent increase in financial crimes and business fraud, forensic accountants are in great demand. Forensic accounting is the practice of utilizing accounting, investigative, organizational, analytical and communicational skills to conduct examination into a company’s financial statements in legal matters (Crumbley, 2007). Forensic accountants can own their own accounting firms or be employed by lawyers, insurance companies, banks, or large corporations. The use of accountants has played an important role in assisting the government as well as the public. Forensic Accountants participate in detecting scandals and financial crimes caused by individuals, companies and organized crime networks. This profession consists of three main areas litigation support, investigation and dispute resolution (Harris, 200). Litigation support involves the factual arrangement of financial issues, investigation comes in when criminal matters have occurred, and the dispute resolution is the process of bringing justice and fairness. To work effectively within these three core components, forensic accounts must have a set of skills to perform their job efficiently. Important Skills Forensic Accountants must posses more than the fundamental knowledge of financial accounting and auditing. Each project requires analysis, interpretation, summarization and presentation of complex financial- and business-related issues (Matson, 2012). There are several core skills that are required and...
Words: 2124 - Pages: 9
...STAGE 2 BIOLOGY ASSESSMENT TYPE 1: Investigations Folio Issues Investigation Human Awareness Essay – Source Analysis Should all babies be DNA fingerprinted at birth? Article to be evaluated: Website: Genetics and Public Issues – ELSI (Ethical, Legal and Social Issues) – http://darwin.nmsu.edu/ Reliability: This source is a reliable one as it was developed by Dr. Clay Dillingham and Dr. Susan Root. They are professionals, educated in the technique and knowledgeable about the subject with years of experience as scientists in the field. Therefore it is expected to have some reliability. Bias: This article presents both the advantages and disadvantages of the topic of storing everyone’s DNA sequences and is not biased in either direction. It gives the scientific facts and procedures of DNA fingerprinting and continues to give the good effects and also the issues it would cause in the public. It explains how DNA fingerprinting would benefit us, referring to the solving of criminal offenses, detection of possible future diseases of the subject, clues about possible behavioral traits, and other medical information. This is the positive side. The article also discusses the negative side and questions the accessibility of the DNA fingerprints and the information they hold. The effects on the public if the information was misused are discussed including the impact on individuals in relation to seeking insurance policies...
Words: 2725 - Pages: 11
...Week 1: Assignment 2 Examine Computer Forensics and Privacy Computers and the Internet have become a pervasive element in modern life. This technology is also used by those who engage in crime and other misconduct. Effective investigation of these offenses requires evidence derived from computers, telecommunications and the Internet. The need for digital evidence has led to a new areas of criminal investigations: Computer Forensics. Forensic investigators identify, extract, preserve and document computer and other digital evidence. This new field is less than fifteen years old, and is rapidly evolving. Education in this field has focused largely on its technical aspects. However, there are significant legal issues and ethical problems that investigators must deal with. Failure to follow proper legal procedure will result in evidence being ruled inadmissible in court. As a result, a guilty criminal might go free. Failure to behave in an ethical manner will erode public confidence in law enforcement, making its job more difficult and less effective. Investigators must have a working knowledge of legal issues involved in computer forensics. They must know what constitutes a legal search of a stand-alone computer as opposed to a network; what laws govern obtaining evidence and securing it so that the chain of evidence is not compromised; what telecommunications may lawfully be intercepted or examined after they have been received; what legally protected privacy rights...
Words: 823 - Pages: 4
...Forensic Accounting In Practice Contemporary Business 508 This paper discusses the role of forensic accounting practices. It takes a look at the skills sets of forensic accountants and the role they play out in the court room. It goes also analyzes the legal responsibilities of a forensic accountant form a professional perspective as their role for expert opinion in the court room. A forensic accountant is someone uses their accounting credibility for investigative or other legal applications, such as corporate acquisition, divorce proceedings, insurance settlements, or other legal purposes (Brody, Melendy, & Perri, 2012). Determine the most important five (5) skills that a forensic accountant needs to possess and evaluate the need for each skill. Be sure to include discussion regarding the relationship between the skill and its application to business operations. The first identifiable important skill for a forensic accountant to posses is investigative intuitiveness. The forensic accountant should possess creative and analytical thinking (DiGabrielle, 2008). According to DiGabrielle, the ability to solve a financial puzzle with an incomplete set of pieces is an extremely important characteristic for forensic accountants (p. 336). The forensic accountant is providing a service to a client for the purpose of expert information as it pertains to legal matters or for the purpose of finding or preventing financial misrepresentation. Their role is not to merely...
Words: 2600 - Pages: 11
...site and explain how they can be used by a forensic accountant. Provide at least two specific examples to support your explanation The article, "Help for Solving CPAs' Ethical Dilemmas" discusses ethical issues in today's environment. Discuss how these tools could assist a forensic accountant in evaluating an ethical issue. week 2 Select another state and compare and contrast that state's definition of fraud with Arizona's definition. Is either definition more appropriate than the other? Why? Based on the information provided in the Association of Certified Fraud Examiners 2010 Report to the Nation on Occupational Fraud and Abuse, select one of the major categories of occupational fraud and discuss in detail how perpetrators are able to commit these types of frauds. week 3''' Select an example of an asset misappropriation case and discuss how a perpetrator would commit this type of fraud and what types of internal controls management could implement to help to prevent or detect this type of fraud. 2 Select an example of a corruption case and discuss how a perpetrator would commit this type of fraud and what types of internal controls management could implement to help to prevent or detect this type of fraud. week 4 Discuss the difference between direct evidence and circumstantial evidence and how each type of evidence can be used in a fraud investigation. Discuss...
Words: 1703 - Pages: 7
...INDIVIDUAL PROJECT: Forensic Accountants: Fraud Busters 1 Individual Project: Forensic Accountants: Fraud Busters Pamela Turner Professor Ann Nelson Contemporary Business 508 February 13, 2013 Strayer University INDIVIDUAL PROJECT: Forensic Accountants: Fraud Busters 2 Individual Project: Forensic Accountants: Fraud Busters Determine the most important five skills that a forensic accountant needs to possess and evaluate the need for each skill. Be sure to include discussion regarding the relationship between the skill and its application to business operations. The age of information technology there is a definite rise in computer crimes, financial frauds, employee thefts and securities scams, insurance and bank frauds. The forensic accountant searches out fraud and criminal transactions in banking, corporate entity or from any other financial records within an organization. Forensic accountants take a more proactive, skeptical approach in examining books of accounting. The base of a forensic accountant is accounting knowledge. The dispersement of the knowledge of auditing, internal controls, risk assessment and fraud detection. There must be a basic or general understanding of the legal environment. The legal environment is essential in order to support the litigation. A strong set of communication skills both oral and written (Houck, 2006). Forensic accountant is the...
Words: 2306 - Pages: 10
...Forensic Accounting & Auditing: A New Paradigm INTRODUCTION Thanks to the popularity of some criminal dramas, the word "forensic" might cause you to think about the process of working a crime scene. These investigators track down criminals using DNA samples, fingerprints, bloodstains, photos and other clues. So at first, you may wonder how the word "forensic" could ever be joined with the word "accounting." It's not as if you've seen accountants working with the other investigators at a crime scene. However, it really depends on the type of crime. “Auditor should be watchdog and not be the bloodhound”. It’s a good quote that every auditor should know. This quote makes the definition of forensic accountants even simpler. The forensic accountant is the bloodhound of Book keeping. External auditors look at the numbers but the forensic auditors look beyond the numbers. Only Forensic just means "relating to the application of scientific knowledge to a legal problem" or "usable in a court of law." Most of the crimes, such as homicides, investigated on a show like "CSI" are known as "crimes against the person." Forensic accounting is simply a specialty field within the broader arena of accounting. The types of crimes forensic accountants investigate are classified as "crimes against property." They investigate crimes such as fraud and give expert testimony in court trials. They also perform work related to civil disputes. Forensic accountants are also known as fraud investigators...
Words: 2890 - Pages: 12
...Forensic Accounting 1 Assignment 3: Forensic Accounting in Practice BUS 508 Professor: Edwin Quinn Jr. Carmesha Eldridge May 19, 2013 Forensic Accounting 2 1. Determine the most important five (5) skills that a forensic accountant needs to possess and evaluate the need for each skill. Be sure to include discussion regarding the relationship between the skill and its application to business operations. One of the most essential skills is being analytical. Forensic accountants must make sure that they are in a position to uncover financial deceptions by critically analyzing them with an understanding of fraud schemes. A forensic accountant is deductive analysis or the ability to take a shot at the financial contradictions that are not a normal pattern of the company to uncover potential financial fraud. Being analytical is essential to remaining an effective forensic accountant. They need to be able to analyze the validity of each transaction the company recorded to make sure that the transactions were reported accurately and fairly. They must possess the knowledge and expertise to interpret financial statements or work under situations where information has been either destroyed or tampered with and be analytical and put the pieces of the puzzle back together again. Forensic accountants should be detailed orientated. Being a forensic accountant means that you will be looking at large quantities of numbers from supporting documents and various financial reports...
Words: 1792 - Pages: 8
...Running head: Forensic accountant 1 Forensic Accountant Tanya Pace Dr. Gina Zaffino Bus 508, Contemporary Business 11/16/2012 Running head: Forensic Accountant 2 Determine the most important five (5) skills that a forensic accountant needs to possess and evaluate the need for each skill. Be sure to include discussion regarding the relationship between the skill and its application to business operations. Although forensic accounting is not a new field, it has become more talked about since cases like Enron came to light. For someone interested in the Forensic Accountant profession they should know that this field can be time consuming, but very rewarding. People who work in this career investigate white collar crimes such as company fraud, fraudulent financial record reporting, and illegal investment schemes. In a recent study by the Federal Bureau of Investigation shows that white collar crimes have cost the United States and estimated 300 billion dollars (DiGabriele 2008). I think five of the skills that a forensic account would need are communication skills, detail oriented, professional and ethical behavior, sound judgment and discretion. Communication skills are vital in any profession. It allows you to convey information for others to receive. The problem with communication is that it can be interpreted differently by other intended parties. As a forensic accountant, communication skills, verbal and non verbal, are important...
Words: 1643 - Pages: 7
...Criminal Profiling: The Public Face of Forensic Psychology Jason Evans Brandman University Table of contents Abstract 3 Introduction 4 Literature review 4 Discussion 7 Personal interest in the topic 10 References 11 Abstract The utilisation of psychological concepts has been extended in many fields in seeking to enhance understanding of human behaviours. Forensic psychology is one of the various psychological filed which have developed out of the necessity to apply psychology in different fields. This article discusses the element of forensic psychology in relation to the various issues arising within the field. A discussion of the various issues highlights ethical aspects as the main causes of many challenges faced in the field. The complexity of the setting under which the psychological practice is conducted makes the topic become one of the interesting psychological segments that can be studied. Introduction Forensic psychology can be defined as the utilisation of psychological concepts, skills, and insights in seeking to enhance the understanding of various elements of legal and criminal justice systems. Within the context of the subject various psychological and legal aspects become combined in seeking to understand the functioning and operations of criminal systems (Davies & Beech, 2012). This approach to criminal justice involves various activities involved in the delivery of justice, ranging from the enforcement to treatment of suspects...
Words: 2200 - Pages: 9
...Running Head: Forensic Accountant 1 The Forensic Accountant Career Bus-508 Contemporary Business Professor Chris Lin Sarah Reid August 12, 2012 Forensic Accountant 2 1. Determine the most important five skills that a forensic accountant needs to possess and evaluate the need for each skill. Be sure to include discussion regarding the relationship between the skill and its application to business operations. A document for the Skills needed for Forensic Accounting (2012) suggests that Forensic Accountant needs to possess is computer skills, “since document and financial statements have taken a more electronic format, forensic accountants must demonstrate computer skills in finding the paper trials left behind by corporate criminals. A forensic scientist will use computer software, known in their profession as computer-aided tools and techniques CATT to detect white –collar crimes. Some software includes data extraction, spreadsheet and data mining analysis.” According to forensic Accounting (2012) suggests that Forensic Accountant’s investigative skills involve collecting and analyzing the audited information for possible discrepancies. The investigations delve into both missed by ordinary accounting and auditing methods. A forensic accountant...
Words: 2009 - Pages: 9
...| Forensic Accountant | | BUS508 Professor Gina Zanfinno Melissa Harris 11/18/2012 | The corporate environment in this country is evolving, and the need for forensic accounting grows along with the progressive economy. Due to the increase in corporate scandals the government issued new, stricter regulations in 2002. Majority of accounting firms within the AICPA stated that their need for forensic accountants surged following the rise of financial statement fraud. Forensic accounting involves a combination of accounting, auditing and investigating. There are some important skills that individuals going out for this position should have and the due diligence in this position is crucial. If pursuing the career of forensic accounting one should develop the necessary skills that will be used in the field. An individual should be analytical, investigative, possess the ability to interpret financial statements, ethically responsible, and hold effective communication skills. Each of these particular skills is important to the field, along with some others that are great in addition. Forensic accountants also should also need the general accounting knowledge in order to understand the information they are required to assess. The ability to analyze the data provided, such as financial statements, audit reports etc will help a forensic accountant figure out their next course of action. Since they are usually retained for court purposes or to resolve a dispute...
Words: 2320 - Pages: 10
