Forensic Accountants: Evolution, Services and Contributions

• In Event: Student Track: Accounting Issues

Abstract

Forensic accounting is a dynamic field as evident by both the number of professionals and its significance. The prominence of technological advancements around the world have had a direct effect on forensic accounting and its growth. Its two main services are investigative and litigation services. In identifying the role of the forensic accountant, the differences in roles between forensic accountants, transactional accountants, and auditors are identified. Forensic accounting engagements all follow the four general phases of defining the engagement, discovering the evidence, analysis of the evidence, and communicating the results. Education and training differs among forensic accountants. In addition, there are a number of professional associations that offer specialized forensic certifications, continuing education, and networking opportunities. Educators have come across the issue of a lack of consensus as to the content and its delivery when teaching fraud and forensic accounting courses. Although, the specific nature of forensic accounting engagements should further encourage educators to properly prepare students with fundamental knowledge pertaining to the profession. This discussion identifies the role of forensic accounting in investigative and litigation services and the importance of this area of accounting.

Author

• Elvia Torres, The University of Texas at Tyler