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An Analysis of Forensic Accounting: Skills, Legal Responsibilities, and Courtroom Roles

Study on forensic accounting, legal responsibilities, and courtroom roles.

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    An Analysis of Forensic Accounting: Skills, Legal Responsibilities, and Courtroom Roles How does forensic accounting combine traditional accounting practices with investigative techniques, and why are analytical, ethical, and skeptical skills essential for a forensic accountant? Discuss the legal responsibilities of a forensic accountant and their role in a courtroom setting. Use case examples to illustrate your answer. Word Count Requirement: 800 - 1000 words.

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    Forensic Accounting in Practice Strayer University Date: Accounting, historically, has been a profession of number tracking, ledger updating and balance sheet reviewing; however, more recently, the need for a skeptical view of accounting business records has developed. In recent years, scandals such as Enron and Bernie Madoff have called for immediate action and needs of forensic accountants with a change in oversight to investigation. According to Zare, “Forensic accounting is unique in that it combines accounting with investigation. These bloodhounds as opposed to the watchdogs that are auditors attempt to sniff out fraudulent transactions from the financial records of banks and companies.” (Zare, 2013) By definition, forensic can be defined as “relating to, used in, or suitable to a court of law.” (Merriam - Webster, 2013) How can this increased level of accounting review and accuracy develop into a role that supports litigation and laws such as the Sarbanes - Oxley Act? The level of forensic accounting has led to the development and thought processes of what it actually means to be a forensic accountant. Five (5) Skills of a Forensic Accountant In addition to the basic functionality of a standard accountant, there are additional skills that would be needed for forensic accounting. The skills needed for forensic accounting are

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