WHY FORENSIC ACCOUNTING & FORENSIC AUDITING
Forensic Accountants/Forensic Auditors (FAs) combine their accounting knowledge with investigative skills in various litigation support and investigative accounting settings. Forensic Accountants/Forensic Auditors (FAs) are employed by public accounting firms’ Forensic Accounting and Forensic Auditing divisions; by consulting firms specializing in risk consulting and Forensic Accounting and Forensic Auditing Services; or by lawyers, law enforcement agencies, insurance companies, government organizations or financial institutions. Due to heightened awareness and growing intolerance of fraudulent activity, demand for Forensic Accountants/Forensic Auditors (FAs) is rapidly increasing.
The IFAP credential provides Forensic Accountants/Forensic Auditors (FAs) with the technical knowledge necessary to perform effective investigations. In contrast to auditors, who typically take a more consistent and standardized approach to their work, Forensic Accountants/Forensic Auditors (FAs) must determine which areas, people or functions of the organization require their attention. Because fraud is usually hidden, this process can be difficult and time consuming. The IFAP credential ensures Forensic Accountants have advanced knowledge of typical fraud schemes and data analysis techniques so that they can perform investigations efficiently and strategically.
The work of a Forensic Accountant/Forensic Auditor (FA) is to enable lawyers, insurance companies and other clients to resolve disputes. Equally important is the ability to communicate financial information clearly and concisely in the courtroom. Forensic Accountants/Forensic Auditors (FAs) are trained to look beyond the numbers and deal with the business realities of situations. Analysis, interpretation, summarization and the presentation of complex financial and business related issues are prominent features of the profession. A Forensic Accountant/Forensic Auditor (FA) will also be familiar with legal concepts and procedures. Forensic Accountants/Forensic Auditors (FAs) are the detectives of the finance world and help investigate fraud and other financial misrepresentation.