Forensic accountants usually come in after an alleged financial crime has been discovered. They use a wide variety of skills like investigative skills within the financial data to find the irregularities. They need to possess analytical skills as well to help with the investigative skills. Then they need communicative skills and legal skills to be able to clearly describe their findings in court or in a report while understanding the legal procedures in order for an effective statement. Forensic Accountants are sometimes used for divorce litigating to review financial statements including pre and post tax retirement accounts (Rufus, 2018). Fraud Auditor are similar to forensic accountants but fraud auditors are more preventative and forensic accountants are reactive. Fraud auditors are about the detection and prevention of fraud, Some skills they share are investigative skills, attention to detail , and analytical skills. Their knowledge must include fraud detection techniques as well as understanding of accounting principles. How to properly document fraud losses and how to investigate?

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To properly document fraud losses and investigate fraudulent activities both forensic accountants and fraud auditors utilize a combination of skills a... View the full answer