Using Teams In production and Operation Management
Five Skills a Forensic Accountant Need to Possess
Determine the most important Five Skills that a Forensic Accountant Needs to Possess.
The down slope in the economy has driven a new demand of accountants in the job market. The economy is at all-time low so the government is scrutinizing and penalizing businesses for inappropriate accounting scandals. Recent incidents of fraud have been noted in the media weekly. The new field of accountants has companies like Enron, Tyco, and WorldCom to thank for their new demand. The employees of these companies have plot, planned and manipulated the system. They have used schemes like the Ponzi ...view middle of the document...
However, when considering a career in Forensic accounting it is imperative. Accountants need to be able to communicate effectively and efficiently especially when they write their reports. Investigators who present their evidence in court use their communication skill to convince the jury or the judges that there are credible professionals in the field.
A Forensic Accountant gathers information from numerous of sources to provide insight to the court so they are very tactful and have developed a plan to catch the scammer. The investigators will use their strategic critical thinking skill which is their ability to know the right questions to ask the perpetrator, gather insight on the company’s culture, make a decision on their hypothesis, create and communicate a vision. The accountant should be able to dissect any fraudulent activity by identifying strengths, weaknesses, opportunities, and threats that the perpetrator has displayed.
Forensic Accountants have to have intense background in accounting and be very knowledgeable with financial software and systems. The definition of their jobs can be described as the use of accounting, auditing, and investigative skills to assist in legal matters. (Houck et al. 2006). They are trained in areas of investigation, detection and various auditing techniques. Most of them are experience auditors and /or accountants. Harris and Brown (2000) mentions that a forensic accountant should demonstrate skills in rules of evidence and the law, analytical and investigative skills identification of patterns of abuse, excellent interpersonal and communication skills, and outstanding organizational skills.
Fraud investigators have to process leadership qualities when investigating fraud cases. They take authority in difficult and stressful situations. They are able to influence and inspire the people on their team to reach a goal or a final decision on specific cases. Fraud accountants that have the leadership trait are credible, accountable and responsible people. The have to process these above qualities to be consider accountable to the legal system. Practicing professionalism and ethical behavior is also another skill that the investigator has to achieve. Investigators are not only dealing with assets of and enterprise but they also are dealing with the accountability of the perpetrators lives. Investigators have to act objectively with integrity and conscientious. They have to be consistent and able to adapt to change. Uphold a code of ethics and morals that will develop them professionally. The golden rules of any job that deals with money or people’s lives is that they have to practice confidentiality. Fraud investigators should demonstrate self- control, self- confidence, pay attention to details and be able to work independently as- well- as with a team. Investigators must present themselves in an appropriate manner in order to be taking seriously amongst other professionals.
Describe the role of a...