Forensic Accountants

Forensic Accountants

 Forensic accountants conduct forensic research to identify the genesis of the fraud. They should gather information beyond the normal auditing process so that they can detect any inadequacies in the system and apply necessary measures. It requires that they have an investigative mindset and brainstorm as much as possible to obtain information exhaustively. Fraud may enter the system at any point in the financial period. They should, therefore, be present and up to date with what is going on to detect any abnormalities. Applying a skeptical mindset will also help the accountant to ask the right questions while brainstorming to collect more information (Great Britain. & Morse, 2013).

Forensic accountants play the role of expert witnesses in fraud cases. After carrying out extensive and informative research, they prepare their findings that will in a big way, determine the outcome of the case. To be competent potential experts, the forensic accountant needs to be knowledgeable about accounting and audit practices. They should also have excellent communication skills and the ability to use technology to identify and make judgements and present their findings well (Skalak & Pill, 2015). They should also have impeccable analytical skills to conduct informed researches.

The forensic accountants are also responsible for enforcing the antifraud policies in organizations. They do so by utilizing a similar set of skills available in the financial departments of an organization. These people are very much aware of the existing policies and what is right. They also know what failure to adhere to these rules results (Skalak & Pill, 2015). Setting the expectation that they know what right and what punishment is to follow when they don’t will create individual responsibility. Furthermore, most fraud cases appear during internal audits as opposed to during external audits.