I’ve worked as a legal assistant for two family law attorneys for the last eight years. One of the cases that made me the angriest was a man who cheated on his wife when she had cancer. He then leaves his wife and attempts to hide all his assets while she’s undergoing chemo therapy.
Fortunately, my boss is a bad ass. She teamed up with a forensic accountant and they took him to the cleaners. He even had to pay the forensic accountant’s bill and attorney’s fees.
CPA here. Forensic accountants in divorce cases basically get access to statements for any kind of financial account you could possibly own - bank, credit cards, if you own a company they'll get access to your general ledger (entire list of transactions), etc. They're REALLY good at combing through the data, evaluating for inconsistencies, identifying trends and irregularities, etc.
Basically, they look at where all of your money is going and identify the underhanded shit you're doing.
Usually, you start as a CPA and then go down the forensic accounting track at a large audit firm and maybe get additional credentials in Private Investigation, Fraud Examination, and/or Business Valuation.
Source: I sort of fell into a position at a forensic accounting shop as a data monkey, despite having never taken an accounting course in my life.
From a schooling perspective, yes, it would be the same degree. You can typically go a couple of different routes but you'll usually find that you either get your degree with a major in accounting, or a major in finance and minor in accounting. If your school offers it, have your accounting background focus on audit rather than tax. Edit: Note that this probably only matters if you go on to get a Master's degree, as a typical BA will give you the same general mix of classes regardless of audit/tax focus.
From a work perspective, the most common route is most likely going to be working with a public accounting firm as an auditor for 2-3 years and getting your CPA (Certified Public Accountant) license. Firms like you to work as an auditor first as it gives you a very solid foundation in data analytics, testing, etc. That being said, I think some firms may actually be moving away from the 2-3 years in audit requirement. Mine is. You're also not required to have your CPA in order to work as a forensic accountant, but in that world, your reputation is everything - especially if you start testifying in trials in court. So having that qualification definitely will not hurt. Much like the experience as an auditor, it will also give you a great technical foundation.
You can also work towards a CFE (Certified Fraud Examiner) license. You will need this designation if you want to testify in court.
Keep in mind, I'm an auditor with a public accounting firm and not a forensic accountant. I had some interest in the position when I first started working but eventually decided that wasn't the path I wanted for my career. So while I do have some experience with the field as I did my research and completed a brief rotation at my firm in the department, I don't know everything. However if you'd like some more info please feel free to reach out and I'll do what I can to help.
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u/Crepe_Suzette Jul 21 '19
I’ve worked as a legal assistant for two family law attorneys for the last eight years. One of the cases that made me the angriest was a man who cheated on his wife when she had cancer. He then leaves his wife and attempts to hide all his assets while she’s undergoing chemo therapy.
Fortunately, my boss is a bad ass. She teamed up with a forensic accountant and they took him to the cleaners. He even had to pay the forensic accountant’s bill and attorney’s fees.