Forensic accounting careers are some of the highest paid accounting careers today. Basically, a forensic accountant uses the knowledge obtained from a forensic accounting degree to investigate fraudulent and illegal practices in any business or government agency. This is exciting and interesting work. Forensic accountants do not do the same work day in and day out. They investigate a number of different things. 
There is a wide variety of fields where forensic accountants work. They are not only employed by government agencies but in the following areas as well.
- Private Practice
- Banking and brokerage houses
- Insurance
- Financial Services Industries
- Law Enforcement
- Small and Mid sized businesses
- Non Profit sector
- Major corporations
The threat that an employee could be misusing company funds is something that all companies need to keep an eye out for. Forensic accountants know how to find the wrong doing and help build the systems and procedures that will keep this from happening.
Banking and brokerage houses need to be constantly on guard against fraud. They use forensic accountants to help safe guard the funds trusted to them.
Law enforcement is a huge area for forensic accountants. The FBI, IRS and other government agencies depend on this type of accountant to help them uncover such crimes as money laundering and tax fraud.
The non profit sector needs to make sure that the funds they receive are being used for the designated purpose that they were given for. When funds are misused this can undermine the charity’s reputation with the public. This can seriously impact the future of donations.
Often the work of a forensic accountant will be used in a court case. As an impartial third party they can present the court with a clear record of what happened financially.
The types of investigations can be very wide. Accounting and law firms hire forensic accountants to investigate or provide the accounting information in the following types of cases:
- divorce disputes
- investigation claims
- personal injury suits
- business carelessness investigations claims
- amalgamations
- acquisitions
- tax investigations
- economic criminal offense investigations
- when a firm is considering a merger
- venture capital investments
- bankruptcy proceedings
Governmental jobs are opening up for forensic accountants as the need for tighter internal controls becomes more necessary. Forensic accountants also recommend certain actions and measures to help prevent fraud and to help control risks.
The first step along this career path is a forensic accounting degree. This is a good career for someone with a inquisitive mind. There is no substitute for a forensic accounting degree. This degree combined with a Certified Public Accountant designation can really propel a career forward. Visit Broadview University today to learn more about Forensic Accounting.
