Topic > Forensic Accounting - 670

An accounting degree can create several job opportunities available in today's job economy. These can start from mundane and obvious jobs such as accountants and auditors up to more interesting jobs. This may include an international accountant, a person who travels around the world and reports on the world's financial status to a company's CEO. However, a niche group is starting to gain momentum among the rest of these careers, this job is in 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 nonviolent crime motivated by money and against a large corporation or the government. These crimes are often committed by workers who are in a higher status than would be considered given the ability to have as many passwords as possible and special information not shared with the general workforce. Some common crimes perpetrated include embezzlement, fraud, bribery, and identity fraud. These crimes are not only more complex to carry out, but they are also more destructive to the business than some crimes, such as shoplifting or graffiti. White collar crimes can completely destroy a company's assets and reputation or even bankrupt it if the robbery is efficient enough. Because these crimes are so devastating to the business world, a forensic account is an absolute must for businesses to remain competitive and safe. Because forensic accounting is such a specialized job, several qualifications are needed to be recognized as a forensic accountant. First, a person who wants to become a forensic expert... half of the document... application for examination, which includes evidence of education and professional recommendations. According to the website, it is recommended that you submit all of this information one month in advance of when you plan to take the exam. After paying the fee of three hundred and fifty dollars, you will be able to take the exam. The assessment is a computer-based test consisting of four components. The four sections are Financial Transactions and Fraud Schemes, Law, Investigations, and Fraud Prevention and Deterrence. Once a person passes the exam they become a CFE and must pay annual dues to maintain their certification. This certification is very valuable in the forensic accounting market. With a CFE a mid-range forensic accountant can have a raise of nineteen thousand dollars compared to a mid-range forensic accountant who does not have a CFE.