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FRAUD RELATED CAREERS

FRAUD RELATED CAREERS

As the number of frauds and the amounts of fraud losses increase so do the opportunities for successful careers in fraud fighting U.S News and World Report indefinite fraud examination as on of the fastest growing and most financially rewarding careers. The American Institute of Certified Public Accountants touted fraud examination/fraud auditing as one of the six fastest growing and most profitable opportunities for accountants. Although there are numerous opportunities for fraud fighting professionals careers in forensic work can be broadly classified according to employer as shown in the Table 1.5.

Table 1.5 Fraud Related Careers

Types of  Employees                   Type of Career
Government and law enforcement FBI Postal inspectors Criminal Investigation Division of the IRS, U.S. marshals inspector general of various governmental agencies state investigators and local low law enforcement officials.
CPA firms Conduct investigators support firms in litigation do bankruptcy related accounting work provide  internal audit and internal control consulting work.
Corporation Prevent detect and investigate fraud within a company. Includes internal auditors corporate security officer and in house legal counsels.
Consulting Serve as an independent consultant in litigation fraud work serve as expert witness consult in fraud prevention and detection and provide other fee-based work.
Law Firms Lawyers provide litigation and defense work for companies and individuals being sued for fraud and provide special investigation services when fraud is suspected
   

Taken together the cost of fighting fraud is very high. In high profile civil cases it is not uncommon for defendants and plaintiffs to spend tens of millions of dollars defending and prosecuting alleged frauds. Many large fraud cases involve multiple law firms multiple lawyers from each firm multiple investigators expert witness and large support staffs. Often after spending large sums of money defending or prosecuting fraud case pretrial settlements I reached with no public announcement of the terms of the settlement.

One author of this text book has, throughout his career consulted in fraud prevention, detection and investigation. To illustrate the many kinds of fraud, Table 1.6 lists some of the fraud cases where he has been an expert witness.

You will find your study of fraud examination to be very interesting and helpful whether or  not you become a professional fraud fighter. As a businessperson understanding the tremendous costs of fraud and learning to recognize fraud warning signs may someday mean the difference between your business surviving or failing. If you become a financial consultant the difference between equipped to help your clients avoid high risk and fraudulent and profitable investments.  As an investor you will learn skills that help you distinguish between fraudulent and profitable investments. If you become an auditor you will find the document examination and evidence gathering skills you learn here invaluable. If you work with taxes you will be alert to when information from clients is questionable. And if, interviewing skills you will be helpful in snythink you choose to do.

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Fraud Related Careers Part 2

Table 1.6 Authors Expert Witnessing Experience Case Nature Retained By City Bank Fraud by costumer …