Forensic Audit : Forensic Accounting Essay

759 Words May 25th, 2015 4 Pages
Forensic accountants use acquired training, knowledge of regulations, and accounting practices to complete financial investigations. Their investigations are then used to discover or substantiate evidence. Forensic accountants can be utilized in many areas such as divorce settlements, expert witness consultation, police and government agencies, insurance claims, finance companies, money laundering, fraud, embezzlement investigations, technical discovery cases and many more areas. With the forensic accounting field having such a diverse realm of opportunity in present time, it had a much simpler beginning in the U.S. With the forensic accounting field seeing such drastic change over the course of history, what changes will we see in the near future? Will the current economic climate and technological growth continue to support the growth of the forensic accounting occupation? Accounting has been around since the ancient times, but forensic accounting is a lot newer to the arena. According to Stevenson, forensic accounting was not recognized as a detached practice area separate from auditing until later branching off on its own (Stevenson, 2015). This was a common practice and it worked for some time. Stevenson states that business expansion, complexity, and an increase in the number of lawsuits made it for auditors to serve as forensic accountants as they had in the past (Stevenson, 2015). This led to a division of roles. At this point, Stevenson points out that the primary…

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