Job functions and work environment of forensic accountants

When you hear the word "accountant," do you immediately imagine a middle-aged gentleman wearing round glasses and a green eye glow? Maybe your thoughts are focused on finance, taxes and math. In some circles, accounting has long been perceived as a safe, gentle, stable and respectable career choice, if not the most linguistic or exciting of the professions. However, that perception is changing as accountants become criminals and more and more individuals are increasingly interested in careers in forensic accounting.

The concept of forensic accounting has a relatively short but easy history, and it may start with the man who destroyed one of the biggest fish of them all, Al Capone. Agent J. J Wilson, a U.S. Treasury special intelligence unit agent, who was tasked with going after the notorious gangster for tax evasion, which resulted in his conviction and imprisonment.

Job functions and work environment of forensic accountants

The term "forensic" means, essentially, "related to the law or the courts." As applied to forensic accounting, it simply describes the job of an accountant working within the legal system. In this context, forensic accountants perform two broad functions: support and litigation.

Accountants performing litigation support help provide information on tremor losses as well as potential judgments and rewards from lawsuits. They work with attorneys to determine what damages to seek.

In some cases, the work of a forensic accountant who provides litigation support can help resolve the case before trial.

Forensic accountants providing investigative services do this for both public and private employers. They read books and financial records to find evidence of fraud and other financial crimes.

Investigative accountants use their knowledge of tax law and accounting practices to investigate all types of fraud, including tax evasion, fraud and money laundering. They may also be called upon to assist in the investigation of securities fraud offenses and locate terrorist and crime financiers.

A forensic accountant's job often involves:

·         Estimation of losses and potential damages

·         Apply knowledge of tax laws

·         Apply knowledge of financial accounting practices

·         Research

·         Writing reports

·         Testifying in court

·         Conducting and assisting with external investigations

·         Working closely with police officers and agencies

·         Working independently

·         Audit of internal and external financial documents

·         Conduct and assist in internal investigations

Founded in 2001, Studler Doyle furnishes forensic accounting and fraud investigation services for insurers, attorneys, and others in the insurance industry. Studler Doyle is owned and operated by Dee Studler and Krista Doyle who bring years of experience providing fidelity and crime investigations, as well as accounting education programming. The company seeks to address the growing needs within the insurance industry in regard to crime insurance in particular.

 By combining our expertise, experience and the energy of our staff, each client receives close personal  and professional attention. We offer a broad range of services for business owners, executives and independent professionals.