Unformatted text preview: Forensic and Investigative Accounting Forensic Chapter 2 Forensic Accounting Education, Institutions, and Specialties
© 2007 CCH. All Rights Reserved. 4025 W. Peterson Ave. Chicago, IL 60646-6085 1 800 248 3248 www.CCHGroup.com Professors’ Top Ten Topics in Professors’ Forensic Accounting Curricula Forensic
1. 2. 3. 4. 5. Fundamentals of fraud. Financial statement fraud. Types of fraud. Cooking the books and problems in Cooking accounting. accounting. Elements of fraud: pressure, opportunity, and Elements rationalization. rationalization.
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Chapter 2 Forensic and Investigative Accounting 2 Professors’ Top Ten Topics in Professors’ Forensic Accounting Curricula Forensic
Antifraud controls. 2. Internal control evaluation. 3. Theory and methodology of fraud Theory examination. examination. 4. Principles of ethics and corporate code of Principles conduct. conduct. 5. Fraud detection and deterrence programs. Practitioners tend to emphasize litigation service more than professors.
Chapter 2 Forensic and Investigative Accounting 3 Knowledge, Skills and Abilities Knowledge, Needed by Forensic Accountant Needed
Law, legal system, courts, and courtroom Law, procedure. procedure. Financial statement fraud. Corporate governance, shareholder rights and Corporate litigation, securities laws, and protections. litigation, Report writing and communication. Criminal law and procedure. (continued on next slide)
Chapter 2 Forensic and Investigative Accounting 4 Knowledge, Skills and Abilities Knowledge, Needed by Forensic Accountant Needed
Computer fraud and cybercrime. Human factors involved in intelligence Human gathering, interview techniques and understanding the motivations for fraud and other criminal activities. other Ethical issues in business. Business valuation. Chapter 2 Forensic and Investigative Accounting 5 Careers in Forensic Accounting
Parade magazine on April 15, 2007, indicated that the hottest jobs for college graduates were forensic accountants. were Chapter 2 Forensic and Investigative Accounting 6 Income Expectations for Income Forensic Accountants Forensic
Salaries start around $35,000. Senior-level government employees can Senior-level earn between $80,000 to $90,000. earn In the private sector, one can earn between In $125,000 to $150,000. $125,000 Chapter 2 Forensic and Investigative Accounting 7 Consulting Fees
Forensic accountants work with attorneys, Forensic private investigators, law enforcement officers, corporate security specialists, the IRS, and the FBI. IRS, In 1999, Kessler International stated that the In firm charges about $300 per hour for forensic consultations. forensic Chapter 2 Forensic and Investigative Accounting 8 Background in Forensic Accounting
A forensic accounting background is helpful forensic in these professional specialties: in Accountants SEC accountants Consultants Bankruptcy specialists Internal auditors Professors IRS auditors Bank examiners Government Chief financial officers Government auditors auditors Valuators of closely Valuators FBI agents held businesses held
Chapter 2 Forensic and Investigative Accounting 9 Specialties Within Forensic and Specialties Investigative Accounting Investigative
Employee Crime Specialist Asset Tracing Specialist Litigation Services Specialist and Litigation Expert Witness Expert Chapter 2 Forensic and Investigative Accounting 10 Forensic Groups and Credentials
Group American College of Forensic Examiners International (ACFEi) Association of Certified Fraud Examiners (ACFE) Association of Certified Fraud Specialists (ACFS) Credential Certified Forensic Accountant (Cr.FA) Certified Fraud Examiner (CFE) Certified Fraud Specialist (CFS) Chapter 2 Forensic and Investigative Accounting 11 Forensic Groups and Credentials
Group Forensic Accounting Society of North America (FASNA) National Association of Certified Valuation Analysts (NACVA) Credential None Certified Valuation Analyst (CVA) Certified Forensic Financial Analyst (CFFA) Certified Fraud Deterrence (CFD) (merged with CFFA in 2007)
12 Chapter 2 Forensic and Investigative Accounting Professional Groups and Credentials
Group Credential National Litigation Support None Services Association (NLSSA) Network of Independent Forensic Accountants (NIFA) Institute of Business Appraisers
Chapter 2 None Certified Business Appraiser (CBA)
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