Description Of Forensic Accounting

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Occupation Description Requirements and Education There is not one set path to become a forensic accountant. There are however, two main certifications most forensic accountants hold; the CFE and the CPA. Having one or both of these certifications is the best way to find work in forensic accounting. CPA Many forensic accountants are Certified Public Accountants. It is the most well-known accounting credential and having those three letters after one’s name tells the world you know what you’re doing. It is not a requirement, but it is common for most in financial forensics to be CPA’s. One needs a bachelor’s degree, though not necessarily in accounting, to be eligible for the CPA exam. 24 undergraduate hours or 15 graduate hours of…show more content…
The duties of the job are dependent upon who one’s employer is. For public sector jobs, the local police could employ you. On a more national level, agencies such as the FBI, IRS, and SEC could all be employers. If employed by the FBI, one could work as in-house forensic accountant. They would provide valuable support by conducting analysis of the financials of businesses and individuals to seek out wrongdoing. Areas of investigation could include money laundering, embezzlement, fraudulent financial reporting and many more forms of white collar crime. The IRS hires individuals to be special agents and investigate financial crimes, with those who are CPA’s given a preference in the hiring process. Forensic accountants for the Securities and Exchange Commission work to ensure financial statements such as 10k’s are accurate and in accordance with GAAP standards (Bramwell, 2016). They could also provide legal advice in criminal cases in matters involving…show more content…
The top 25 percent earn $81,000 or more a year, and the top 10 percent earn $110,000 or more a year (Indiana Accountant and CPA Salaries, 2015). Boston has the best salaries as they are 37 percent higher than the national average. 89 percent of forensic accountants have health insurance, 70 percent have dental, 61 percent have vision, and 11 percent have no insurance. Jobs within the federal government have especially generous salaries. The Securities and Exchange Commission, though not listing forensic specifically, pays their accountants an average of $190,000 per year (Pay Rates for Accountants, 2016). The FBI, whose accountants are generally forensic, pays an average of $95,000 per year, and even those from the hated IRS can take solace in their average salary of $103,000 a year (Pay Rates for Accountants,
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