Forensic Audit Interview Question:

What is Forensic Accounting?

Submitted by: Muhammad

You have encountered the two terms before, separately at least; and never have you imagined that they can be put beside each other.
It is kind of weird when you think of private investigators in a crime scene all holding calculators instead of magnifiers and cameras. And it's even weird to see a bookkeeper trying to prepare quarterly financial statements with knives and elastic gloves! Well, the term is really not that troublesome.
The term "forensic" means "relating to courts of justice or public disputes" or "suitable for use in a court of law". Forensic accounting involves the use of accounting expertise in court and litigation cases, fraud investigation, claims and dispute resolution, and other areas that involve legal matters.
Unlike the popularly dramatic forensic setting that focuses on extraction of DNA and bullet trajectory calculation, forensic accounting deals with financial and corporate crimes such as fraud.
Submitted by: Muhammad