What does a forensic accountant do?
Working close together with law enforcement agencies, a forensic accountant specializes in investigating potential fraud and financial crimes. Their responsibilities typically include performing extensive research and analysis, gathering and analyzing various forms of financial data and storage, reviewing and validating documents, verifying information, and conducting internal and external financial audits. Most of the time, a forensic accountant presents research findings to lawyers and judges as evidence, which will require them to participate and testify in court proceedings.
Forensic accountant responsibilities
Here are examples of responsibilities from real forensic accountant resumes:
- Prepare internal financial reports for treasury manage accounts include in external compliance reports.
- Gain accounting and auditing experience with this CPA firm.
- Select and roll out ERP software to meet company requirements.
- Complete all tasks for a full service CPA firm independently with little supervision.
- Inspect account books and accounting systems for efficiency, effectiveness, and use of GAAP to record transactions.
- Prepare responses to interrogatories and requests for production documents.
- Lead growth-relate initiatives such as ERP implementation and integration of acquire companies.
- Provide accounting and financial consulting services in forensic investigations, litigation or dispute resolution, and/or financial due diligence matters.
- Work closely with counsel and perform analysis relate to due diligence and various other commercial litigation and forensic investigation matters.
- Prepare daily SOX audit documentation, ensuring that bank account activity have been reconcile and to identify any outstanding variances.
- Perform Peachtree installations and upgrades.
- Maintain cash forecasting and cash management treasury analysis including approval of wires and international transactions.
Forensic accountant skills and personality traits
We calculated that 21% of Forensic Accountants are proficient in CPA, Litigation, and Forensic Accounting. They’re also known for soft skills such as Analytical skills, Communication skills, and Detail oriented.
We break down the percentage of Forensic Accountants that have these skills listed on their resume here:
- CPA, 21%
Specialized in performing forensic examinations for a Mid-sized CPA firm.
- Litigation, 16%
Provided accounting and financial consulting services in forensic investigations, litigation or dispute resolution, and/or financial due diligence matters.
- Forensic Accounting, 8%
Performed as a key project leader for forensic accounting and audit assistance related to potentially criminal Security and Exchange Commission investigation.
- Financial Data, 7%
Assist in engagements to identify anomalies and inconsistencies in financial data and various financial documents.
- Fraud Investigations, 7%
Referred substantial percentage of examined loans to OIG investigators for fraud investigation considerations.
- CFE, 5%
Passed CFE exam on first attempt to increase my credentials as a forensic accountant.
Most forensic accountants use their skills in "cpa," "litigation," and "forensic accounting" to do their jobs. You can find more detail on essential forensic accountant responsibilities here:
Communication skills. Another soft skill that's essential for fulfilling forensic accountant duties is communication skills. The role rewards competence in this skill because "accountants and auditors must be able to listen to and discuss facts and concerns from clients, managers, and other stakeholders." According to a forensic accountant resume, here's how forensic accountants can utilize communication skills in their job responsibilities: "prepare all monthly reports for cpa to finalize pandl financial statements and prepare taxes for county, state and communications taxes. "
Detail oriented. Another skill that relates to the job responsibilities of forensic accountants is detail oriented. This skill is critical to many everyday forensic accountant duties, as "accountants and auditors must pay attention to detail when compiling and examining documents." This example from a resume shows how this skill is used: "prepared a detailed financial model outlining the economic damages of an unplanned shutdown of an industrial facility in philadelphia. "
Math skills. For certain forensic accountant responsibilities to be completed, the job requires competence in "math skills." The day-to-day duties of a forensic accountant rely on this skill, as "accountants and auditors must be able to analyze, compare, and interpret facts and figures." For example, this snippet was taken directly from a resume about how this skill applies to what forensic accountants do: "reconciled bank statements and produced financial reports, as well as occasional statistics/analyses. "
Organizational skills. Another crucial skill for a forensic accountant to carry out their responsibilities is "organizational skills." A big part of what forensic accountants relies on this skill, since "strong organizational skills are important for accountants and auditors, who often work with a range of financial documents for a variety of clients." How this skill relates to forensic accountant duties can be seen in an example from a forensic accountant resume snippet: "ensured financial transactions were aligned with organizational objectives, in accordance with organizational, governmental, and donor policies and procedures. "
The three companies that hire the most forensic accountants are:
- The Independent Traveler52 forensic accountants jobs
- Firebirds Wood Fired Grill15 forensic accountants jobs
- Pacific Architects and Engineers
12 forensic accountants jobs
Compare different forensic accountants
Forensic accountant vs. Accountant/consultant
Accountants/consultants perform accounting tasks for organizations or companies. The accountants improve accounting practices and prepare financial statements at the end of every year. They analyze financial data and offer advice on regulatory compliance issues to the finance department. It is their job to make sure that the online system is secure. Most of the day, they organize invoices, prepare statements, and supervising systems. They should be equipped with analytical skills, industry knowledge, critical thinking, and interpersonal communication.
These skill sets are where the common ground ends though. The responsibilities of a forensic accountant are more likely to require skills like "litigation," "forensic accounting," "fraud investigations," and "cfe." On the other hand, a job as an accountant/consultant requires skills like "account management," "product knowledge," "strong analytical," and "leveraged." As you can see, what employees do in each career varies considerably.
Accountant/consultants earn the highest salaries when working in the finance industry, with an average yearly salary of $68,479. On the other hand, forensic accountants are paid more in the finance industry with an average salary of $81,057.accountant/consultants tend to reach lower levels of education than forensic accountants. In fact, accountant/consultants are 8.7% less likely to graduate with a Master's Degree and 1.1% less likely to have a Doctoral Degree.Forensic accountant vs. Accountant internship
An accounting intern is responsible for assisting an organization's accounting department, observing practical applications and processes, and performing accounting duties under the supervision of tenured accounting staff. Accounting interns support the accounting operations by preparing and organizing financial reports, helping with accounts reconciliation, researching financial and stock market trends, utilizing various accounting software, and managing feedback from their mentors. An accounting intern must be detail-oriented and a fast-learner, immediately adjusting to the company's culture and actively cooperating with the team to ensure a smooth flow of operations.
While some skills are similar in these professions, other skills aren't so similar. For example, resumes show us that forensic accountant responsibilities requires skills like "litigation," "forensic accounting," "fraud investigations," and "cfe." But an accountant internship might use other skills in their typical duties, such as, "r," "account management," "powerpoint," and "renewable energy."
Accountant interns may earn a lower salary than forensic accountants, but accountant interns earn the most pay in the media industry with an average salary of $36,253. On the other hand, forensic accountants receive higher pay in the finance industry, where they earn an average salary of $81,057.accountant interns earn lower levels of education than forensic accountants in general. They're 11.0% less likely to graduate with a Master's Degree and 1.1% less likely to earn a Doctoral Degree.What technology do you think will become more important and prevalent for forensic accountants in the next 3-5 years?
Terri Walsh
Professor/Program Manager, Accounting, Seminole State College of Florida
Forensic accountant vs. General ledger accountant
A general ledger accountant is in charge of ensuring the accuracy of a company's overall accounting processes and information. It is their responsibility to communicate with different departments and officials to gather necessary data, conduct extensive audits, prepare documentation and reports, maintain financial data on the company ledger, and interpret financial information. Furthermore, like a general ledger accountant, it is essential to monitor the progress of accounting processes, all while implementing the company's policies and regulations.
The required skills of the two careers differ considerably. For example, forensic accountants are more likely to have skills like "litigation," "forensic accounting," "fraud investigations," and "cfe." But a general ledger accountant is more likely to have skills like "reconciliations," "balance sheet accounts," "accruals," and "external auditors."
General ledger accountants earn the highest salary when working in the technology industry, where they receive an average salary of $68,134. Comparatively, forensic accountants have the highest earning potential in the finance industry, with an average salary of $81,057.general ledger accountants typically earn lower educational levels compared to forensic accountants. Specifically, they're 8.3% less likely to graduate with a Master's Degree, and 1.3% less likely to earn a Doctoral Degree.Forensic accountant vs. Senior accountant analyst
As a senior accountant analyst, your main role is to provide professional guidance to a company. You need to have excellent preparation skills to create financial reports that clearly state the expenses and forecast the company's financial future. You should always aim for accuracy and compliance. Moreover, as a senior accountant analyst, you are supposed to give general operational assistance to the company's management.
Even though a few skill sets overlap between forensic accountants and senior accountant analysts, there are some differences that are important to note. For one, a forensic accountant might have more use for skills like "cpa," "litigation," "fraud investigations," and "cfe." Meanwhile, some responsibilities of senior accountant analysts require skills like "reconciliations," "external auditors," "account reconciliations," and "general ledger accounts. "
The finance industry tends to pay the highest salaries for senior accountant analysts, with average annual pay of $89,199. Comparatively, the highest forensic accountant annual salary comes from the finance industry.senior accountant analysts reach lower levels of education compared to forensic accountants, in general. The difference is that they're 5.5% more likely to earn a Master's Degree, and 1.2% less likely to graduate with a Doctoral Degree.Types of forensic accountant
Updated January 8, 2025
