Overview of Forensic Accounting Essay - 2975 Words

Introduction What is forensic accounting one might ask? It has been on the rise lately and has been talked about for years, but do people really know what it is. Well look no more; you came to the right place. This paper will discuss the ends and outs of forensic accounting. For example, the certifications required to become one, the history of forensic accounting and many different types of crimes that forensic accounts handle. Forensic accounting is an investigative style of accounting used to verify whether a single or company has occupied with any illegal financial movement (Forensic Accounting Online, 2013). It is used to detect fraudulent activity such as false insurance claims, embezzlement, bribery, tax evasion, etc. Since†¦show more content†¦More criminals are now using computers and cell phones to store illegal activities and hide them from others. Also, since forensic accounting is so similar to the Federal Bureau of Investigation (FBI) in helping to solve crimes and protecting people, both parties decided that it would be in their best interest to work with each other. The FBI works to put criminal behind bars and forensic accounts work to testify against them. Certifications Certifications applicable to the forensic accounting profession include: Certified Public Accountant (CPA), Masters of Business Administration (MBA), Certified Valuation Analyst (CVA), and Certified Fraud Examiner (CFE). The Certified Public Accountant (CPA) license is the premier certification for accountants. There are requirements that must be fulfilled before a CPA license is awarded to an applicant. Requirements vary depending on which state the candidate submits their application in. A majority of states require the applicant to have at minimum 150 college credit hours. Typically at-least 30 hours must be accounting credit hours and 25 must be business credit hours. There are four parts to the CPA exam. The four parts of the exam include the Auditing (AUD), Financial and Reporting (FAR), Regulation (REG), and Business Environment and Concepts (BEC) segments. The CPA exam is 14 hours in total length. There are specialized licenses thatShow MoreRelatedCommunication And Interviewing Skills Are Important For Entry Level Accountants1228 Words   |  5 Pagesrequire students to work together culling information for the given topic, write reports outlining their findings, and then present the results or information to their respective class. These are sound skills all students need to have in their accounting toolkits, yet, in many instances their toolkits are still missing vital tools relating to interviewing which universities are not providing. 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