Forensic accounting is the practice of using accounting, auditing and investigative skills to assist in legal matters. The aim is to obtain an accurate result for establishing accountability for administrative procedures. There are two ways of looking at this field as it has its own pros and cons.
The benefits of a career as a forensic accountant are:
- Forensic accountants with accredited degrees are in high demand due to the increasing rates of fraud that are taking place these days. Therefore, forensic work can be a good source of solid income and reputation, which can double a person’s success in a job application.
- Accounting careers are never exciting. But forensic accounting is an exception as it opens up a new world of exciting and marketable grand prospects for the generation to come.
- In this field of study, you will also be exposed to the latest technology and modern equipment. Also, you would be one of the first to try new computer software and the latest skills.
Just as all good things come to an end, so does this subject. The disadvantages of studying this subject are:
- Its expensive price. Just the amount required for the course in this field can tear a hole in your pocket in no time.
- Companies with great repute do not want the public to know about their fraud and theft activities, so sometimes you could be a victim of extortion and the like.
- Many forensic accountants act as witnesses in court cases. To some extent, their lives may be in danger. This is because the defendants, not wanting the forensic accountant to reveal their wrongful act, could attempt to threaten.
In conclusion, studying accounting in the forensics department holds its own set of advantages and disadvantages. Whether or not you decide to study this depends on your attitude towards the subject.
Thanks to J.J. Yong | #Pros #Cons #Studying #Forensic #Accounting