Forensic accounting is hot for a number of reasons. The most obvious is that as a specialty it has become very lucrative. So much so, I know of firms that have stopped during traditional tax and accounting work. Also, accounting and auditing standards are increasingly delineating new obligations with regard to practitioners’ duty to protect against fraud.

Firms can institute processes and procedures to discover fraud and study lists of best practices, but there is only one real way to learn, and that is by actual experience. Personally, I like to learn from other people’s experiences first so I know basically what I should be watching out for.

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