Forensic Accounting Certification

The term forensic accounting refers to the use of scientific application in the accounting aspect, which can be used as an evidence in the court of law. Forensic accounting certification is mandatory in order to work as a forensic accountant. The certificate can be obtained from any college or university conducting a course in forensic science.

Forensic accounting can be defined as, "The utilization of accounting, auditing and investigative skills to conduct an examination into a company's financial statements." Hence, forensic accounting involves detailed scrutiny of all the documents, evidences and financial statements of a company or organization.

Forensic accounting is a broader concept as compared to accounting and audit. There are several types of crimes that can be committed in an organization like:

• Misappropriation of Goods - Misappropriation of goods like changing the stock or changing the figures in the purchase or sales vouchers.
• Misappropriation of Cash - It means fraud related to cash. It is mostly committed by employees who handle day-to-day cash transactions in the organization. There might be omitting or addition of amount details from the cash book.
• Misappropriation of Accounting Statements - This type of crime is committed by people who have authority and a good position in the organization. They manage the financial matters of the organization. In these cases, the accounting statements of the organization such as profit and loss account and balance sheets are altered and is known as misappropriation of accounting statements.

There might be frauds related to property as well, and forensic accountants are meant to deal with them as they are known as fraud investigators or fraud auditors. They also deal with civil disputes.

Forensic Accounting Certification

Forensic Accounting Certification is an added qualification which can improve your skills and competence in the field. Forensic accountants study fingerprints, verify evidences, investigate and prepare necessary data to be presented in the court of law. They may also have to interview people involved in a particular case.

1. To be a forensic accountant, one needs to possess strong analytical and communication skills.
2. One must be watchful, able in detecting discrepancy and providing necessary proof in the court of law.
3. One must possess a bachelor's degree in finance or accounting.
4. One also needs to have an industry certification and a Certified Public Accountant (CPA) appellation (CPA license is necessary and it can be obtained by completing 150 hours of education in college which is equivalent to a bachelor's and master's level degree).
5. Forensic accounting industry certification is also required such as Certified Fraud Examiner (CFE) or the Forensic Examiner diplomat.

These certifications will prove your competence in investigation and fraud detection and are an integral part of forensic accounting careers.

The Forensic Accounting Certification is an accreditation, that will identify your knowledge, education, skills and competency as a forensic accountant. It will also ascertain the fact that you have met all the requirements of the State Board of Accountancy. Due to an increase in the number of white-collar crimes, forensic accountants are in great demand. You can acquire a good position in an organization based on your experience and certification.

Forensic Accounting Positions

• Defense Department Auditor
• Consultant
• Internal Auditor
• Valuator of closely held businesses.
• Chief Financial Officer
• Lawyer
• Bankruptcy Specialist
• Defense Department Auditor
• GAO Auditor

As a forensic accountant, you can work in an organization or as a freelancer. The salary of a forensic accountant is quite high as compared to a normal accountant, due to the litigation processes involved.

One needs to fulfill all the norms and requirements in order to acquire the forensic accounting certificate. This certification would give you a chance to analyze various aspects of accounting and law, and allow you to excel in the field of business and finance.