What is forensic accounting?

Forensic accounting is the practice of using accounting, auditing and investigative techniques to assist in legal matters. It encompasses 2 main areas - litigation support, investigation and resolution of disputes. Litigation support represents the factual presentation of economic issues related to existing or pending litigation. In this capacity, the forensic accounting professional quantifies damages sustained by parties involved in legal disputes and can assist in resolving disputes, even before they reach the courtroom. If a dispute reaches the courtroom, the forensic accountant may testify as an expert witness. Research is determining whether criminal matters such as employee theft, securities fraud (including falsification of financial statements), identity theft and insurance fraud. In the work of the forensic, he or she may recommend actions that can be taken to minimize the risk of future loss. The research may also occur in civil matters. For example, the forensic accountant may search for hidden in cases of divorce assets. Forensic accounting involves beyond numbers and understand the essence of situations. It's more than accounting ... more than detective work ... it's a combination that will be in demand as long as human nature exists. Who does not want a career that offers such stability, excitement and financial rewards? In short, forensic accounting requires the most important quality a person can possess: the ability to think. Far from being a skill that is specific to success in a particular field, developing the ability to think increases the chances of success in the life of a person, which increases the value of a person in the society today. Why not consider becoming a forensic accountant on the legal accounting Master link on the navigation bar on the left.