A forensic accountant is part investigator, part auditor, part attorney, and part accountant (Levanti, T.). Due to the increase in high-profile cases of companies and individuals, forensic accounting is a growing and popular field in the business and forensic subjects. A forensic accountant is someone who is often retained to analyze, interpret, summarize, interviews and present complex financial and business related issues in a manner that is both understandable and properly supported (Zysman, A.).
Forensic accountants usually work in a public practice or are employed by insurance companies, banks, police or government agencies. They are to investigate and analyze any …show more content…
The role of the forensic accountant will vary from case to case. The experience and knowledge they bring to the attorney in helping them to put together a case can often prove to be immensely valuable. In many cases, a dependable and knowledgeable expert is one of the first people the attorney calls when setting up his or her team (Elmore, D.R.).
Analyze the legal responsibility a forensic accountant has while providing service to a business.
A forensic accountant is a person usually hired by insurance companies, banks, police or government agencies to help solve cases and find any crimes related to fraud. Forensic accountants are responsible to the society to prevent, detect and investigate white-collar crimes, bank fraud, terrorist funding and computer scams (Levanti, T.).
The responsibilities of a forensic accountant are not legal in nature but rather the obligation to educate his client on the practices of the cases and to look not for the obvious answers, but to see what he or she overlooked. These practices range from knowing your employees, engaging in conversation with the workers of the company and listening for clues that might indicate opportunity, pressure, or rationalization of fraud.
Forensic accountants owe liabilities