Forensic accounting is the practice of utilizing accounting auditing and investigative skills to assist in legal matters to obtain an accurate result to establish the accountability for administrative proceeding˳ You may be wondering, why study forensic accounting?
Well, here are the five reasons:
- Our current economic crisis has left many companies to face serious financial issues that may lead to bankruptcy˳ Hence, these companies have been forced to stoop down to the lowest level to save their company by committing frauds and swindles˳ This makes such a job an important one that increases in demand each year˳
- Internal audit in the company could not throw light on the different fact and other hidden aspects of the corporate fraud˳ They are hardly in a position to initiate proper action at proper time due to their lack of forensic accounting skills˳
- Forensic accounting is a new and very exciting study˳ This change the perspective of the world on accounting study, which has been a theoretically dull field in itself˳
- If you are ambitious, fast, observant, creative and diligent, Forensic accounting is definitely a dream job and a great investment˳ Using computer technology, creative thinking, and careful inspection of financial records; the hidden proof of the crimes can be discovered˳
- You will always be equipped with the latest computer software and gadgets˳ Forensic accounting heavily relies on computer software and generalized audit software to aid in the detection and investigation of fraud and white-collar crimes˳ Also, investigative tools such as data mining, link analysis software and case management software and the use of the Internet are the essential skills as well˳
In conclusion, forensic accounting has been stereotyped as a boring and uninteresting job which has been proved to be wrong˳ There are many reasons which show to be benefits when it comes to studying forensic accounting˳ Not only will you be rewarded with a stable job, you would also look forward to going to work everyday
Source by https://ezinearticles˳com/?Five-Reasons-to-Study-Forensic-Accounting&id=2330712