While some of you may already be working in a forensic accounting position, others are just getting their toes wet, exploring the potential options of this enticing field. If you want to work in the area of fraud investigation and forensic accounting, take a close look at how your education and job choices are paving your path to success. The more knowledge and experience you have, the more attractive you will be to potential employers in the future. Outside of training provided by professional organizations and acquiring certifications, books offer a wealth of information for both the expert as well as the novice. Let’s examine the top five books for forensic accountants.
1. Forensic Accounting and Fraud Investigation for Non-Experts 3rd Edition
Readers consider this book, by H. Silverstone, a must-have reference for understanding how financial fraud occurs as well as how businesses should handle this concern if suspected within their organization. With updated cases that cover the core accounting, legal, and investigative aspects of forensic accounting, it provides information relevant to current times. Written by a team of expert forensic accountants, it goes above and beyond by providing new material on technology tools along with methods on dealing with financial fraud in large organizations.
2. Forensic Accounting 1st Edition
Written by R. Rufus, this text draws upon the high demand of forensic accountants following increased litigation and regulatory enforcement. Reviewing the true picture behind what forensic accountants actually do and how they do it, the authors bridge the gap between theory and practice. Key intended outcomes include building a knowledge base on the skill set required for the field, provide an inside view into the practice, highlight the importance of a scientific approach, and enable a multi-modal learning method utilizing a variety of aids.
3. Detecting Accounting Fraud: Analysis and Ethics 1st Edition
Taking on a textbook approach for courses in accounting fraud, forensic accounting, auditing, and ethics for accountants, C. W. Jackson wrote a case-study book aimed towards providing students with the key signs of fraud in financial statements. The book outlines the most frequently used methods of overstating earnings and assets as well as how to identify fictitious reporting. A great stance this read takes on is its ethics-based focus with a breakdown in the three major theories. The goal is to provide readers with opportunities to apply ethical models to real-world situations.
4. Forensic Analytics: Methods and Techniques for Forensic Investigations 1st Edition
M. Nigrini wrote this book for the visual learner, enlisting over 300 pictures to showcase tests that can be used to detect fraud. Utilizing a step-by-step approach, original data is shown in addition to the end result. Furthermore, this text demonstrates how to use everyday programs such as Excel and PowerPoint in the field of forensic accounting. Through the use of statistical techniques, it takes on an analytical approach to help further reader’s knowledge and apply the concepts in their organization.
5. Financial Forensics Body of Knowledge 1st Edition
This is a must-have guide for forensic accounting professionals, written by D.D. Dorrell. With just under 300 outlined forensic tools, techniques, and methods, this book enables readers to apply methodologies to a range of civil, criminal, and dispute matters. Redefining the standard for financial forensics and forensic accounting, it has been public by the United States Department of Justice. An accompanying website is also provided, showcasing a number of additional resources that permits individuals within the financial community to focus on pertinent issues.
Related Resource: 5 Great Books for CPAs
Forensic accounting has become a hot field in recent years due to the increasing number of high-profile cases involving both companies as well as individuals guilty of fraud. Tasked with piecing together financial puzzles, forensic accountants must be up-to-date on tactics and techniques used to provide an accounting analysis. The top five books listed above each take on a varying approach that enables readers to develop a comprehensive context within the field.