Major Forensic Accounting Careers

5 Careers for a Forensic Accountant

5 Careers for a Forensic Accountant

Forensic accountants work in investigative capacities to follow complex money trails, identify financial improprieties, uncover criminal acts, gather evidence for legal actions and audit company records. Often working with law enforcement agencies, these professionals investigate bankruptcies, offshore money-sheltering schemes, people hiding assets in divorce settlements and suspicious insurance claims.

Diverse Responsibilities and High Pay

Forensic accountants earn a median pay of $103,000 according to a CNN report. Top salaries for forensic accountants can top $146,000, and there are more than 1,216,900 of these accounting jobs in the United States. Diverse investigating

Supervision by a controller or comptroller is increasingly essential because The Association of Certified Fraud Examiners or ACFE reports that 5 percent of global revenue is lost to financial fraud. Financial controllers who are trained in forensic accounting techniques are in an ideal position to uncover these fraud and theft and gather the evidence to prosecute these cases. Fraud cases, according to the ACF, generate average company losses of $140,000, and more than 20 percent of cases involves losses of more than $1 million dollars.

5. Credit Analyst

Credit analysts do far more than just run credit checks. These accounting professionals -- who often study forensic accounting -- compile financial records for small and global financial companies, assess the risks of extending credit or lending money and combine analyzing financial statements with assessing international financial market conditions. These accountants often recommend investments and business choices to companies and entrepreneurs. According to the Bureau of Labor Statistics, the industries with the highest pay averages for credit analysts