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  • Essay / Forensic Accounting - 670

    An accounting degree can create several job opportunities available in today's gig economy. These can start from mundane and obvious jobs, such as accountant and auditor, to more interesting jobs. This could include an international accountant, someone who travels around the world and reports on the global financial situation, or the CEO of a company. However, one niche group is starting to gain momentum among the rest of these careers, and that job is forensic accounting. Forensic accounting in the general sense is an accountant hired to examine possible white-collar activities in a company, or to prevent crimes from occurring. A white-collar crime is a non-violent crime motivated by money and targeting either a large corporation or the government. These crimes are often committed by workers who occupy a higher status than would be considered given the opportunity to obtain more possible passwords and special information not shared with other personnel. Some common crimes committed include embezzlement, fraud, corruption and identity theft. These crimes are not only more complex to carry out but are also more destructive to the business than certain crimes, such as shoplifting or graffiti. White-collar crimes can completely destroy a company's assets, reputation, or even bankrupt it entirely if the heist is effective enough. Since these crimes are so devastating to the business world, forensic accounting is absolutely essential for businesses to remain competitive and safe. Because forensic accounting is a very specialized job, several qualifications are required to be recognized as a forensic accountant. First, a person interested in becoming a forensic accountant... middle of the sheet... an application for examination, which includes proof of education as well as professional recommendations. According to the website, it is recommended to send all this information a month before you plan to take the exam. After paying the three hundred and fifty dollar fee, you can then take the exam. The assessment is a computer-based test consisting of four items. The four sections are Financial Transactions and Fraudulent Schemes, Law, Investigations, and Fraud Prevention and Deterrence. Once a person passes the exam, they become a CFE and must pay the annual fee in order to maintain their certification. This certification is very valuable in the forensic accounting market. With a CFE a forensic accountant in the median range can have a raise of nineteen thousand dollars compared to a median forensic accountant who does not have a CFE.