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What Do Forensic Accountants Do?
Intrigue. Mystery. Excitement. More often the stuff of a Raymond Chandler hard-boiled detective or a Cold War-era secret agent, the crime-fighting, mystery-filled life of a forensic accountant is miles away from the "bean counter" accounting stereotype.
Forensic accountants combine their accounting, auditing and investigative skills to analyze and interpret business and financial evidence, and can participate in trials as expert witnesses.
Working on anything from bankruptcy and divorce cases to major fraud and capital crime cases—it was a forensic accountant who finally caught gangster extraordinaire Al Capone—forensic accountants have the sometimes unlikely combination of an exquisite eye for detail, a solid background in both accounting basics and legal concepts, and a love of the excitement that comes with law as well as order.
To begin working towards a career in forensic accounting, find accounting bachelors, MBA, or MAcc degree programs.
Fast Facts: Forensic Accounting
Required education: Forensic accountants must have a bachelors degree in accounting and are generally expected to have CPA certification. It is also beneficial to become a CFE (Certified Fraud Examiner) or a CrFA (Certified Forensic Accountant).
Salary: Most forensic accountants begin their career making between $30,000 and $60,000 and often work their way up to salaries well into the six figures, often between $125,000 and $150,000.
Required skills: In addition to strong accounting skills and legal knowledge, forensic accountants must have remarkable curiosity, attention to detail, persistence, and the ability to think creatively and communicate effectively. Analytical and research skills are also crucial.
Places forensic accountants work: Anywhere investigative accounting is needed. This ranges from private corporations or firms that help specific companies deal with suspected (or known) fraud and embezzlement to government organizations like police departments, the FBI or the CIA. Forensic accountants also frequently work for public accounting firms, banks, the IRS, insurance companies and law firms.
Sources: Journal of Forensic Accounting, Monster.com, ForensicAccounting.com
Forensic Accountants on TV: Profile
Leon Martel, Forensic Accountant, NBC's Law and Order: Criminal Intent
Position: Forensic Accountant for the NYPD's Major Case Squad, the division that handles the highest-profile crimes
Cases: Martel's detailed strain of financial sleuthing has helped solve cases that range from the double murder of a museum curator and an art authenticator to the very accounting-centric murder of a man who had been working on a stock manipulation scheme with a major New York CFO.
Fun fact: Tracy Howe, the actor who plays the Sherlock Holmes of forensic accountants on Law and Order: CI, is the first actor to have appeared on all three Law & Order shows.
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