What is Forensic Accounting - calcpaexpert.com

1 Forensic ACCOUNTINGF rankel & Reichman Forensic Accounting services definition Focus of the Certified in FinancialForensics (CFF) CredentialForensics (CFF) Credential CFF qualification criteria Benefits of hiring a CFFF orensic AccountingServices Defined Forensic Accounting services generally involvethe application of specialized knowledge andinvestigative skills possessed by CPAs to collect,investigative skills possessed by CPAs to collect,analyze, and evaluate evidential matter and tointerpret and communicate findings in thecourtroom, boardroom or otherlegal/administrative venueFundamental Forensic Knowledge Professional Responsibilities and PracticeManagement Laws.

2 Courts and Dispute Resolution Planning and Preparation Information Gathering and Preservation Discovery Reporting, Experts and TestimonySpecialized Forensic Knowledge Bankruptcy, insolvency and reorganization Computer Forensic analysis Economic damage calculations Economic damage calculations Family law Financial statement misrepresentations Fraud prevention, detection and response ValuationFOCUS OF THE CFFCFF Credential Requirements Hold a valid and unrevoked CPA Certificate AICPA Member in good standing 5 years of Accounting Experience 5 years of Accounting Experience Meet minimum business experience andeducation requirements Pass the CFF Examination Sign a Declaration of IntentCFF Credential Requirments Forensic Business Experience Minimum of 1,000 hours is required Must be completed within the 10 year period (50%within the past 5 years) prior to the application date.

3 Education Minimum of 75 hours is required Must be completed within the 10 year period (50%within the past 5 years) prior to the application date. Must pass the 4 hour CFF ExamBenefits of Hiring a CFF Hiring a CPA who holds the CFFcredential will provide additionalassurance that the practitioner is anassurance that the practitioner is anexperienced and knowledgeableprofessional There is a rigorous certification process developed bythe AICPAB enefits of Hiring a CFF Sets one s practice apart and distinguishesone s curriculum vitae by combining the CPAwith a related Forensic credential Generates increased confidence in one squalifications Demonstrates a high level of competency inthe area of financial

4 ForensicsWhere Do CFFs Work CPA Firms Consulting Firms Sole business owners Sole business owners Within law firmsTestimonials"As is true with most professions, allaccountants are not created equal. Our firm isfortunate to have a CFF credentialed forensicaccountant on staff, who assists our lawyers inthe analysisof complex financial issues, whichthe analysisof complex financial issues, whichresults in a great value to all our clients,including those who use our servicesfor employment-related matters. When we needto retain outside experts, the CFF designation ishelpful in identifying competent financialexperts.

5 "Patti Ramseur, JDSmith Moore Leatherwood, LLPT estimonials"Business litigation and other areas of lawfrequently require analysis of complex financialissues. Our firm has a Forensic accountant onstaff, and we employ outside financial CFFdesignationtells us that the financialThe CFFdesignationtells us that the financialexpert has both training and experience. Jim Medford, JDSmith Moore Leatherwood, LLP