An Analysis of Forensic Accounting: Skills, Legal Responsibilities, and Courtroom Roles

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An Analysis of Forensic Accounting: Skills, Legal Responsibilities, andCourtroom RolesHow does forensic accounting combine traditional accounting practices with investigativetechniques, and why are analytical, ethical, and skeptical skills essential for a forensicaccountant? Discuss the legal responsibilities of a forensic accountant and their role in acourtroom setting. Use case examples to illustrate your answer.Word Count Requirement:800-1000 words.

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Forensic Accounting in PracticeStrayer UniversityDate:Accounting, historically, has been a profession of number tracking, ledger updating andbalance sheet reviewing; however, more recently, the need for a skeptical view of accountingbusiness records has developed. In recent years, scandals such as Enron and Bernie Madoff havecalled for immediate action and needs of forensic accountants with a change in oversight toinvestigation. According to Zare, “Forensic accounting is unique in that it combines accountingwith investigation. These bloodhounds as opposed to the watchdogs that are auditors attempt tosniff out fraudulent transactions from the financial records of banks and companies.” (Zare,2013)By definition, forensic can be defined as “relating to, used in, or suitable to a court oflaw.” (Merriam-Webster, 2013) How can this increased level of accounting review and accuracydevelop into a role that supports litigation and laws such as the Sarbanes-Oxley Act? The level offorensic accounting has led to the development and thought processes of what it actually meansto be a forensic accountant.Five (5) Skills of a Forensic AccountantIn addition to the basic functionality of a standard accountant, there are additional skillsthat would be needed for forensic accounting. The skills needed for forensic accounting are

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