Forensic Accountants

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Forensic Accountants
Helene M. Snyder
Dr. Ann Pohir-Vieth
Contemporary Business 508
August 8, 2012

Determine the most Important Five Skills that a Forensic Accountant Needs to Possess and Evaluate the Need for each Skill
Students interested in the Forensic Accountant profession are required to possess many skills because this is the hottest career in accounting. People who work in this career investigate white collar crimes such as business fraud, incorrect financial reporting, and illegal investment schemes. Certain government agencies have established core competency frameworks that a forensic accountant student’s must demonstrate. Some of these skills include strategic critical thinking, problem solving/decision making, …show more content…

An example of a litigation support is calculating a loss due to a break in a contract. Forensic accountants can help lawyers collect analyze pertinent data. They interpret the facts and evidence, examine and provide and expert opinion on the data to be presented to the court. Next, the forensic accountant provides an expert testimony service. The responsibility of the forensic accountant is to act impartial, objective, and independent in their decisions. They should communicate clearly with both parties. Fraud auditing or investigative accountancy deals with examining criminal matters. An example is work theft, real estate fraud, and insurance fraud, bribery, and crime investigations. In addition to the previous skills discussed earlier, a forensic accountant needs these features as a part of their personality to be a successful profession: curiosity, persistency, creativity, perception, and skill.
Analyze the Legal Responsibility a Forensic Accountant has while Providing Service to a Business
When a claim is filed a team of professionals are assembled to analyze issues that arise during the claims process. The policyholder and the insurer will gather the team to support their position. The insurer’s “team” (Smith, 2011) may include a field adjuster, claims manager, underwriting department, in-house legal staff, and other experts such as engineers,

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