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What to Consider When Choosing a Forensic Accountant

Do you want to hire a forensic accountant? If so, it’s important to know how to determine whether a professional you want to hire will be right for you. Choose an accountant that will be a good fit for the case you have. The results you will get from a case will depend on the accountant you hire. This is why you should not simply hire a forensic accountant without doing some research. Make sure the professional you want to hire is well qualified for the task you have. Below are some things to consider when choosing a forensic accountant.

Consider Qualifications
Qualification is one of the most important things to consider before hiring a forensic accountant. Confirm that the professional you want to hire hold certification from the national body that certified fraud accountants. To be certified as a forensic accountant, one has to be a member of the state forensic accountants’ association. Members of the association have to apply for certification and provide proof of qualifications. Another requirement that one must fulfill is sit for an exam set by the forensics’ body.

There are a number of areas that forensic accounting deals in. Some of the common areas include fraud prevention and deterrence, financial transactions and fraud schemes and investigation and law. A certified forensic accountant can investigate various financial fraud cases. The professionals are also knowledgeable on the various ways that financial fraud may be carried out. A certified forensics accountant knows various fraud prevention tactics and can help to prevent future loopholes.
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Apart from being certified by the national fraud association, a forensic accountant must be a Certified Public Accountant (CPA). A CPA qualifications enables the professional to understand business practices and financial workings of your company. The combination of CPA and forensics accounting qualifications make it easy for the professional to detect financial fraud.
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Finally, it’s also prudent to hire a forensics accountant that has some knowledge in computers. A professional that can carry out electronic discovery projects will be helpful in detecting any financial fraud carried out online.

Consider the Professional’s Experience
Experience is another important factor to consider when choosing a forensic accountant. You can determine the experience of the accountant through the number of years he or she has been practicing. Apart from this, inquire whether the accountant has previously worked on cases similar to the one you have. Another thing you may want to find out is whether the professional has ever served as an expert witness.

Any forensic accountant cannot be an expert witness without being interviewed and evaluated by the court. The accountants chosen to be expert witnesses are the most qualified in their fields. Find out whether the accountant you want to hire will be able to testify in court if necessary.

When you want to hire a forensics accountant, keep the two tips above in mind.