Hot Market for Forensic Services

The demand for CPAs providing forensic accounting services has accelerated, according to an AICPA survey.

More than two out of three CPAs polled (68%) say their forensic practices have grown over the past year.

The results were released in connection with the 2008 AICPA National Accounting Conference on Fraud and Litigation Services in October. The conference marked the official launch of a new credential exclusively for CPAs—Certified in Financial Forensics (CFF). The credential encompasses specialized skills that CPA practitioners apply in a variety of service areas, including bankruptcy and insolvency; computer forensics; fraud investigations; family law; and litigation support, among others.

Of those respondents who reported increased demand for their services, 67% cited computation of economic damages as the leading reason, followed by marital disputes (56%) and investigations of financial statement fraud (54%).

AICPA research shows that CPAs represented 94% of forensic experts hired over the past two years.

More than 5,400 members of the AICPA’s Forensic Valuation Services Section completed the survey.

Source: AICPA, www.aicpa.org.