Strayer Bus508 Assignment 3

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. Forensic Accounting in Practice BUS508 August 12, 2012 Determine the five most important skills that a Forensic Accountant needs to obtain and evaluate for each skill. Be sure to include a discussion regarding the relationship between the skill and its application to business operations. A Forensic Accountant utilizes accounting, auditing and investigative skills when conducting an investigation. Equally critical is the ability to respond and to communicate financial information clearly and concisely in a courtroom setting. Forensic Accounting is a rapidly expanding field within the field of accounting. Although this field has been around for a long time it has become increasingly popular in the past few years for various reasons. For example more attention was brought to this field because of a number of corporate scandals, stricter reporting regulations for companies and internal control regulations involving public awareness. With the state of the world’s economy Forensic Accountants are in high demand. Forensic Accountants should at least possess a Bachelor degree in accounting. They should also be a Certified Public Accountant (CPA) and may possess other certifications such as Certified Forensic Accountant (CFA) and Certified Forensic Accounting Professional (CFAP). A capable Forensic Accountant should have the following characteristics: * curiosity * persistence * creativity * discretion * organization * confidence * sound professional judgment A Forensic Accountant must be open to consider all alternatives, scrutinize the fine details and at the same time see the big picture. In addition, a Forensic Accountant must be able to listen effectively and communicate clearly and concisely (Zysman). Curiosity is defined as having the desire to learn or know and this is exactly what a Forensic Accountant must strive

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