Job Description Memo (Final)

 Forensic Accounting Intern

When someone pictures a typical accountant, they often imagine a monotonous person sitting in a cubical working from nine to five. As someone who decided to choose a career in Forensic Accounting, I think it’s important to break that stereotype. Being an accountant in the public industry, more often than not, has traveling as a crucial component in their job description. We frequently travel as a team and work from client sites. The opportunities within the industry are endless as the service lines include Tax, Assurance, and Advisory. We can work on multiple projects at a time and have exposure to different industries. In a way, we can experience the client company culture without being an official employee. The rotational program is available for young professionals; Therefore, we have the opportunity to explore our interests. As a previous forensic accounting intern, I had the opportunity to work on forensic accounting cases that dealt with fraud investigations, litigation consulting, and dispute claims.

 

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
When a company suspects possible fraud in its finances, it will engage with an accounting firm for financial investigation services. In a financial investigation, there is no guarantee that every case is fraud-related. Therefore, it is up to the client to determine when a case is complete. Before accepting the case, the accounting firm must verify through a third-party system whether or not the new client is an existing audit client. This is to ensure that the new client is free from conflicts of interest. 
 
The duties in a financial investigations case include but are 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 the accounting firm accepts a case, it must conduct a test called Clear. Clear is a third-party testing program that ensures the new client is not an existing audit client. If the Clear test validates this is not an existing audit client, then the team can create a budget for the case. Some of the tasks include reviewing bank statements and cross-examining invoices provided by the clients. As an intern, I ran Clear tests and create budget models for our potential clients. I verify the documentation of specific invoices and bank statements. When the findings exceed the investigation tolerance threshold, then a report must be issue to upper management. The client can stop an investigation once they are satisfied or no longer wish to move forward with the pursuit. During the internship, the client I was working on halted the investigation midway since we found enough evidence to help dismiss the guilty party. If the client wishes to press charges against the guilty party, the forensic accountant team will act as experts 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 closely with the client, partner, and attorney to gather evidence in support of the upcoming court appearance.
 
The primary responsibilities of this role include but are 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 interviews can be subject to subpoena by the opposing side. Therefore, as an independent third-party expert on the case, all notes need to be impartial. To remain neutral, the notes I took in the evidence file did not include special characters or questionable tones. While the job description varies base on the type of litigation case, primary functions include gathering evidence and working 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 attending court appearances is still a fundamental job function for this type of service.

The responsibilities for this role are similar to that of litigation consulting services

• 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(es) that the client may experience. Through that, the forensic team will then testify and explain the findings to the court jury or judge. Therefore, providing expert testimony is a critical job function for this type of service. As the intern, I sat in on briefing and witness case procedures. Due to liability risks, the engagement leader of the team will provide testimony statements as opposed to entry-level associates. 

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