Financial Investigations & Forensic Accounting Careers

Financial Investigations

Financial investigations are usually very document-intensive investigations that focus on tracking financial transactions to support or disprove allegations against an individual or entity. Specifically, financial investigations involve tracing records, such as bank account information, real estate files, books and records of the person or entity, etc., which point to the movement of money and assets. Any record that pertains to or shows the paper trail of events involving the movement of money and assets is important to the investigation. The major goal in a financial investigation is to identify and document the movement of money and assets and to resolve the allegations against an individual or entity. The link between where the money or asset comes from, who gets it, when it is received and where it is stored or deposited, can provide proof of civil and criminal activity, help resolve allegations against individuals or entities, and help paint the true story of what happened from the perspective of an independent third party.

Business fraud, real estate fraud, securities fraud, mortgage fraud, health care fraud, telemarketing fraud, and tax evasion are just a few types of financial investigations that revolve around money and assets. In these situations, a financial investigation often becomes the key to the resolutions of allegations or it becomes the proof behind civil or criminal complaints.

Forensic Accounting

Forensic accounting is similar in many aspects to Financial Investigations. Forensic accountants work in two primary areas, investigative accounting and litigation support. Investigative accounting encompasses, not just the numbers and documents of a company, but the business environment as well as the facts and circumstances. Forensic accountants investigate the financial operations of an enterprise and prepare independent third party reports, expert opinions or other information that may be used in a civil or criminal court case or in disputes between partners, entities, or individuals prior to court proceeding.

A forensic investigation often requires that the investigative team spend time at the business or requires the complete takeover of a business such as Receivership or Conservatorship, a Bankruptcy Trustee, or a Bankruptcy Debtor in Possession. The investigative team spends most of their time collecting and analyzing financial data, attending court proceeding, and attending meetings with interested parties. In today’s business environment, it is common that most business store their information in electronic form, in one way or another, usually using a complex web of software and hardware. Today’s forensic accountants typically perform their analysis using computer software and hardware that is specifically designed to help assist in the analysis. Most information is obtained from computers, cell phones, and other electronic media used to store information. Therefore, it is important that a forensic accountant maintain good computer skills and knowledge of the every changing landscape of software and hardware used in the operation of business. Ultimately, a forensic accountant will collect evidence and documentation that may be used in a courtroom proceeding, and will prepare reports to be used by the management of the company being investigated, parties to the litigation, or law enforcement agencies. Often, forensic accountants are required to testify in court and provide depositions as to their findings.

At James C. Sell, P.C. we have forensic accountants on staff to assist with shareholder and partnership disputes, business loss, fraud, employee theft investigations, and professional negligence issues. We routinely work for or with law enforcement agencies, lawyers, insurance companies, business owners, and government agencies.

If you are looking for a lucrative, interesting job with plenty of upward mobility, consider a career in either Financial Investigations or Forensic Accounting with James C. Sell, P.C. With almost unlimited growth for the next few decades, a career with James C. Sell, P.C. is an accounting job with great potential and an ever-changing landscape of opportunities.