What does a Forensic Accountant do?

Forensic accountants work for financial institutions, insurance companies, law offices and law enforcement agencies. They analyze and investigate financial records such as bank accounts, invoices, company credit card statements and tax forms, looking for signs of fraud and performing risk assessments.

Forensic Accountants conduct audits to verify if individuals or businesses are engaged in deceptive practices or financial misconduct, and they’re often called as expert witnesses in legal proceedings. They’re responsible for compiling evidence in financial fraud cases, and they utilize specialized computer applications to trace funds and identify assets. 

Forensic Accountant skills and qualifications

Forensic Accountants are often required to conduct detailed investigations of financial records. Having strong computer skills is important for those seeking Forensic Accountant careers, and the ability to pay attention to details is also helpful. To excel in their positions, a successful Forensic Accountant should also have the following skills and qualifications:

• Good problem-solving skills

• Strong critical thinking skills

• Excellent research skills

• Ability to think creatively and follow their instincts when necessary

• Strong math comprehension 

• Understanding of banking and tax software

Forensic Accountant experience requirements

While specific experience requirements listed on a Forensic Accountant job description can vary, most employers prefer that applicants have at least 1 to 3 years of experience as a general accountant. Applicants may also be required to submit to standard background checks. Legal firms that hire Forensic Accountants to conduct investigations and serve as expert witnesses may also require previous experience as a Forensic Accountant. 

Financial institutions may require applicants to have experience working in a bank or accounting firm, while law offices may request applicants who are knowledgeable in the area of fraud investigation. Forensic Accountants who work for the Federal Bureau of Investigation (FBI) must also pass FBI background checks.

Forensic Accountant education and training requirements

People who choose Forensic Accountant careers often complete 4 years of college and graduate with either a bachelor’s or master’s degree in accounting, finance or forensic accounting. Some employers also require that Forensic Accountant applicants obtain the Certified Fraud Examiner (CFE) credential or Certified Public Accountant (CPA) license. While not a hard requirement, some Forensic Accountants also hold additional degrees or certificates in criminal justice or law enforcement. 

Forensic Accountant salary expectations

According to Indeed Salaries, the average salary for a Forensic Accountant is $81,154 per year. Specific salary amounts can vary based on an individual’s overall experience, geographical location and company salary preferences.

Job description samples for similar positions

If this Forensic Accountant job description isn’t quite what you’re looking for or doesn’t match your criteria, consider these job description samples for similar positions:

• Accountant

• Accounting Clerk

• Auditor

• Internal Auditor

Forensic Accountant job description FAQs 

Who does a Forensic Accountant report to?

Who a Forensic Accountant reports to depends on the type of company they work for. When employed by law enforcement agencies or law firms, Forensic Accountants may report to lead detectives or prosecuting attorneys. Forensic Accountants who work for financial institutions generally report to their direct supervisors. 

What are some differences between a Forensic Accountant and a CPA?

Forensic Accountants and CPAs are similar in that they both analyze financial data. However, while CPAs analyze data to aid in accurate bookkeeping and tax reporting, Forensic Accountants investigate financial data for fraud and other financial crimes. 

What qualities make a good Forensic Accountant?

Some qualities that make a good Forensic Accountant include strong problem-solving skills and good critical thinking skills. Since Forensic Accountants examine large amounts of data to look for discrepancies, the ability to pay attention to detail is also an important quality. 

What makes a good Forensic Accounting job description?

A good Forensic Accountant job description should list the duties and responsibilities of the position within the first few sentences to encourage the potential applicant to continue reading. Listing employee benefits, perks and incentives can give potential employees a picture of what they can expect if offered an interview for the position. Additionally, opting for short, distinct statements vs. long blocks of text can help keep readers engaged.