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Essay / Forensic Accounting - 545
IntroductionWith the latest scandals and corporate collapses (see Appendix B), the need for forensic accountants is increasing in the fields of business, government and accounting, but according to Harris, there is a growing need in the legal field as well. Lawsuits are often complex and can involve overlapping financial and legal issues. The skills of a forensic accountant, with their extensive background and experience in forensic accounting, are a “vital resource” to the legal team and provide “valuable insight” into financial matters (Harris). What is a forensic accountant? Forensic accountants combine accounting, auditing and investigation. They have knowledge in money laundering, insurance claims, asset misappropriation, securities and commodities fraud, bankruptcy fraud, embezzlement and many other financial areas. What does a forensic accountant do? Forensic accountants use their accounting, auditing and investigative skills to determine the validity of an accusation. They investigate a claim by reviewing evidence, analyzing information, interviewing people and communicating...