Tuesday, February 05, 2008

Life in Forensic Accounting

Here's a factoid for you:
Ninety-one percent of convicted bank robbers go to jail, while only seventeen percent of those convicted of embezzling from a bank serve time, according to the American Bar Association.
I found that in an article in Knowledge@WPCarey, published by the W.P. Carey School of Business at Arizona State University. The article, Financial Detectives: The Rising Demand for Forensic Accountants, is a good overview of the state of forensic accounting right now, including some aspects on the lifestyle that goes with being a practitioner. For example:
...only one of every hundred or so certified public accountants currently focuses primarily on forensic work. That may be partly because forensic investigations often wind up as evidence in legal proceedings, including full-fledged trials. As Epps said, "some don't want the stress of ending up on the witness stand, being cross-examined. And once a judge sets deadlines, and the trial starts, you lose control of your life; your schedule revolves around the needs of the case."
Financial Detectives: The Rising Demand for Forensic Accountants [Knowledge@WPCarey]

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