Job Description Memo (Draft)

Forensic Accounting Intern

When I tell an individual that I am an accountant, most people envision the stereotypical boring accountant sitting in a cubical, number-crunching from nine to five. Therefore, I find it interesting to break that conventional image and explain the thought process on why I chose accounting as a career. Being an accountant in the public industry (independent third-party firm), often than not, traveling is essential. We frequently travel as a team and work from the client site rather than in an office. The opportunities within the industry are endless as the service line includes Tax, Assurance, and Advisory. Due to the interest of this memorandum, I will focus on the role of forensic accounting under the Advisory service line. As a kid, I was always fascinated with the idea of FBI investigation; Therefore, it was inevitable that my interest led me to pursue an internship in the forensic accounting practice.

Forensic Accountant
A forensic accountant is an independent third-party consultant. The primary job description of a forensic accountant is to assist clients and provide support as an expert witness. Since most of the cases we deal with involve private investigations and possible trial appearances, the practice itself has a strict policy in client confidentiality. 

The three different types of consulting services provided by a forensic accountant include:

• Financial Investigations Services

• Litigation Consulting Services

• Dispute Services

Financial Investigations
A financial investigation service is necessary when a company suspects possible fraud in the company's finances. In a financial investigation, there is no guarantee that every case is fraud related. Therefore, the satisfaction of the work is based on the client's demands. Before accepting the case, the company must double-check through a third-party system that the new client is not an existing audit client to the firm. This way, it can ensure that the new client is free from conflict of interest. 

 

The duties in a financial investigations case include but not limited to 

• Verifying bank statements to invoices

• Conduct Clear-Tests and preliminary work plan

• Provide analysis support and conduct comprehensive program testing

 

Example:
Before we accept a case, we have to conduct a test called Clear. Clear is a third-party testing program that makes sure the new client is not our existing audit client. If the Clear test gives us the green light, then we are able to move on to constructing an approximate budget for the case. Upon accepting the case, the job description varies. However, some of the tasks include reviewing bank statements and cross-examined invoices provided by the clients. When our findings are larger than the threshold, then we have to report our findings to the upper management. An investigation can be stop or halt when the client is satisfied or no longer wish to go forward with the pursuit. If the client wishes to press charges on the fraudster, the forensic accountants will act as an expert in the testimony.

 

 

Litigation Consulting

Litigation consulting is a service provided by the forensic team when a client needs an expert witness in a trial. During a litigation case, the forensic team will work attentively with the client, partner, and attorney to gather evidence in support of the upcoming court appearance.

 
The fundamental function in this role include but not limited to 

•  Evidence Gathering and working with attorneys

• Conduct interviews with witnesses

• Frequent check-up calls with client and team partner

 

Example:
In a litigation case, it is crucial to remain neutral. The evidence found in the interviews can be subject to subpoena by the opposing side. Therefore, as an independent third-party expert on the case, all notes need to impartial. The job description varies on the type of litigation case. However, the primary functions include gathering evidence and work closely with the attorney.
 

Dispute Services
In a dispute case, the forensic team helps the client seek economic losses and compensation. In most cases, the dispute will result in a lawsuit. Therefore, working with attorneys and showing up in court appearances is still a fundamental job function for this type of service.
 
The forensic accountant responsibilities for this role is similar to the litigation procedures

• Evidence Gathering and working with attorneys

• Conduct interviews with client and witness

• Frequent check-up calls with client and team partner

Example:
During a dispute case, the forensic team will gather evidence and provide an estimate of the economic loss that the client experience. Through that, the forensic team will also come up with a reasonable amount that client should seek in the lawsuit. Therefore, showing up as an expert in the testimony is likely for this type of service as well.

 

Flesch Reading Ease: 50.6
Flesh-Kincaid Grade Level: 10.5
Passive Sentences: 0%