[palmtop_taiga]

Hi all,

I started in Big 4 auditing this past September. I am interested in relocating and gearing my career more towards forensic. Currently, within my firm there is an opening for an associate in advisory – forensics. I am aware that I need to wait a full year before I can make any transition.

I am eager to start reaching out to the appropriate channels to make sure my office is properly staffed when I go, but I wanted to get some guidance from anyone who knows a thing or two about forensic accounting or advisory.

Is it too soon to go into forensic? Should I plan instead to stay with audit until I become a senior to get a broader background?

Any guidance is appreciated.

AUD 74, 82 (11/29/15)
FAR 68, 79 (11/9/15)
REG 75 (6/21/16)
BEC 75 (1/18/16)

[maloney021]

Depends on your interests. I know if you are in a Big 4 doing audit, the sky is the limit in terms of your future opportunities.

I work in a level one staff position within my office doing forensic accounting. Most of my work involves insurance claim reviews, data input, checking schedules, and doing simple calculations.

I would say get into the field you want to stay in as soon as possible. The reason I went Forensic Accounting to start is because I thought I wanted an FBI career in the future, but I am allowing my firm every opportunity to make me forget about that idea (raises, promotions, etc.). If I get high enough, I won't leave my firm for anything else.

In the end, you need to choose what accounting field interests you most. I envy the opportunities of Big 4 auditors like yourself, but at the same time I enjoy the work-life balance that a mid-level forensic accounting firm provides.

(By the way, nice username! 100% approve!)

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I. AM. DONE!

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[Mayo]

“Is it too soon to go into forensic? Should I plan instead to stay with audit until I become a senior to get a broader background?”

The only person I know that went from audit to FIDS (at EY) was a Senior 1 when they made the transition. Or rather, the transition was started after Staff 2 year and finished after Senior 1 busy season (they were half audit and half FIDS for a while).

But express your interest in transferring to your counselor/mentor at the firm in your second year. The biggest things that will determine whether it's an easy transition are your performance ratings and your network. This is true about transferring to any service line really.

Mayo, BBA, Macc

[Anonymous]

Would the CFE exam be the best certificate for forensic accounting or the CPA be enough?

[ror668]

I think the first credential to get for Forensic Accounting would be the ABV. The other ones that come to mind would be the CFF and the CFE. I worked previously as a Forensic Accountant at a smaller regional firm. The experience that I gained there was quite diverse. I prepared all of the schedules as well as the reports that would be testified on by the partner whom I worked for. I gained experience doing business valuations (For Divorce, shareholder disputes, etc.), Medical Malpractice defense work, fraud investigations, critique of other forensic expert reports in litigation, and many other such things. I think that a Career in forensic accounting is very worth while, and the Big 4 certainly has a lot to offer. (I imagine that at a smaller firm you do however get more hands on experience of doing everything that goes into a report).

[Mayo]

“I think the first credential to get for Forensic Accounting would be the ABV “

I completely disagree. The ABV is mainly designed to get you experience in the valuation field. Both Valuation and Forensics have a litigation component, but it doesn't mean they have a lot of crossover in the ABV/CFF or CFE designations. Now if you wanted to go the valuation route a CFF/CFE would be something that would be desired in addition to your valuation credentials. But the opposite doesn't necessarily apply.

Your best bet is the CFF or CFE. CFF is respected more by the field, but I think the experience requirements are more stringent than the CFE. I think if you take and pass the CFE it's a big plus to help you transfer. If you can pass the CFF it's better IMO.

Here's a good FAQ:

https://www.aicpa.org/InterestAreas/ForensicAndValuation/Membership/Pages/cff-frequently-asked-questions.aspx#Eligibility

Mayo, BBA, Macc

[Anonymous]

I know most people thing fraud but you are right there are other areas that you touch also. Would you say public accounting, law firms, and insurance companies are the only places where “forensic accounting” is used? Where else could you work?

[ror668]

At least from my own personal Forensic accounting experience, I felt the largest portion of the services that I worked on were business valuation services. I personally would like to testify on such in my future and I would not feel comfortable doing business valuations in which testifying was a part of the service without having my ABV or another valuation credential.

[Mayo]

Typically, forensics is an advisory practice. I don't see a huge demand to have a forensics team in a company's finance department as a full time function.

Another option is government work for the FBI. I've heard that the CIA and NSA use forensic accountants, but to be honest I've never seen a job posting for either.

Mayo, BBA, Macc

[Anonymous]

Not a recent one, but they have this job posted pretty frequently, for example:

https://www.usajobs.gov/GetJob/PrintPreview/380349400

[palmtop_taiga]

Thank you all for your responses, I appreciate all the advice on the topic!

AUD 74, 82 (11/29/15)
FAR 68, 79 (11/9/15)
REG 75 (6/21/16)
BEC 75 (1/18/16)

[palmtop_taiga]

@maloney021 About the username, thanks, I was hoping eventually someone might notice!

AUD 74, 82 (11/29/15)
FAR 68, 79 (11/9/15)
REG 75 (6/21/16)
BEC 75 (1/18/16)

[Skynet]

A great career is to be a CFE for Divorcing Couples. With the high rate of divorces these days, it could be a gold mine. You know damn well that the husbands and wives will be trying to hide Assets from one another.

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World Domination Plan

Phase I : Pass CPA Exams - Complete
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Phase IV : Form the new Charlie's Angels with Megan Fox, Scarlett Johansson, & Gal Gadot
Phase V : TBD

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World Domination Plan

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[golfball7773]

In all honesty – this is what got me started in accounting but never pursued later…..Keep going!!

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(I have been trying to become a CPA since 2013). only one test down.......

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[palmtop_taiga]

@Skynet I appreciate your candor, but that's a horrible thought. I'm more the romantic type so I can't see myself working with failed couples without losing it.

@golfball Thanks for the advice. I think I'm going to get in touch with resource management and at least make them aware of my interests. 6 months is early but I hear it's been taking really long for people to transition in my workplace because my office is short staffed. We'll see.

AUD 74, 82 (11/29/15)
FAR 68, 79 (11/9/15)
REG 75 (6/21/16)
BEC 75 (1/18/16)

[Author]

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