Forensic Accounting Services - PowerPoint Presentation

1. Forensic Accounting ServicesAdd Your Name and Presentation Information

2. AgendaForensic Accounting Services DefinedBenefits of Forensic and Valuation Services (FVS) Section MembershipOverview of the Certified in Financial Forensics CredentialCFF RequirementsPositioned for SuccessForensic and Valuation Services2

3. What is Forensic Accounting?Forensic accounting services generally involve the application of specialized knowledge and investigative skills possessed by CPAs to collect, analyze, and evaluate evidential matter and to interpret and communicate findings in the courtroom, boardroom, or other legal or administrative venue. More simply, in the context of litigation, the term forensic means to be suitable for use in a court of law. Forensic and Valuation Services3

4. When is a Forensic Accountant Needed?Forensic accounting engagements encompass many practice areas, including the following:Bankruptcy, insolvency and reorganizationEconomic damages calculations and due diligenceDisputes and litigationElectronic data analysisFamily lawFraud prevention, detection and responseForensic and Valuation Services4

5. Who Needs Forensic Accountants?Forensic accountants are needed by many individuals and institutions, including the following:AttorneysCourts / JudgesBusiness OwnersBanks / Insurance CompaniesEstatesAdditional Users of Financial Statements

6. Forensic and Valuation Services (FVS) Section Member BenefitsAccess to the FVS Section resources and contentFVS Online Professional Library, including access to practice aids and other non-authoritative guidanceWebsite content, including articles, case studies, checklists, worksheets and toolsVendor discounts and special offers

7. Forensic and Valuation Services (FVS) Section Member BenefitsAbility to meet CPE requirements through webcasts, conferences and self-studyAnnual FVS ConferenceAICPA Business Valuation SchoolObtain discounts on resources, webcasts and conferencesReceive up to $450 off the FVS Conference

8. Forensic and Valuation Services (FVS) Section Member BenefitsOpportunity to network, collaborate and share best practices with other forensic accounting professionalsConferencesCommittees and task forcesReceive timely communication regarding the latest forensics and valuation services developmentsFVS NewsGain the support of the FVS section that promotes and protects member interests with regulators and other third parties

9. Overview of the CFFThe American Institute of CPAs (AICPA) established the Certified in Financial Forensics (CFF®) credential program in 2008 for CPAs who specialize in forensic accounting. The CFF credential is granted exclusively to CPAs who demonstrate considerable expertise in forensic accounting through their knowledge, skills and experience.

10. CFF Program ObjectivesThe objectives of the CFF credential program are to: Enhance the quality of forensic services CFFs provide. Increase practice development and career opportunities for CFFs.Promote members’ services through the Forensic and Valuation Services (FVS) website.Achieve public recognition of the CFF as the preferred forensic accounting credential.

11. CFF Credential BenefitsCFF Marketing Toolkit — Designed to help CFF credential holders market their skills and build their forensic accounting practicesPublic awareness program — The AICPA’s ongoing media relations campaign heightens the awareness of the CFF credential among clients, the business and legal communities, and various media outletsRecognition at the AICPA National FVS conferences — Networking opportunities with other CFF credential holdersFind a CFF — An online directory of all CFF credential holders, which also is available to the publicProfessional discounts — CFFs also benefit from vendor discounts and special offers on selected products and publications used in their forensic practices

12. CFF Credential BenefitsOtherAutomatic FVS Section membershipAccess to additional marketing resources specifically created for CFFs

13. CFF RequirementsMaintain AICPA membership in good standing.Hold a valid and unrevoked CPA certificate or license issued by a legally constituted state authority.Pass the CFF Examination and meet minimum business experience and education requirements. The business experience and education requirements must have been completed within five years of applying for the CFF credential.Complete the CFF credential application and pay the respective credential fee.Sign a Declaration of Intent to comply with the CFF recertification requirements.

14. CFF Recertification RequirementsMaintain AICPA membership in good standing.Hold a valid and unrevoked CPA certificate or license issued by a legally constituted state authority.Complete 20 hours of continuing professional development within the credential body of knowledge annually. Submit electronic intent to continue to comply with all recertification requirements

15. CFF Exam InformationExam offered year-round as a two-part examComputer-based and administered at a testing site (with over 300 locations available nationwide) or via online proctoringEach exam module is 2 hours and 15 minutes, with a 15 minute breakEach exam module asks 90 multiple choice questionsMust pass both parts within 12 monthsExam registration available year-roundDiscounts on exam fees offered to AICPA and FVS Section membersPrep materials include: CFF Exam CSO, CFF Exam Review Course (Live or self-study), Core and Specialized Forensic Accounting Certificates

16. Positioned for SuccessForensic Accounting is one of the fastest growing niche areas of accountingClients expect credentialed professionals in this fieldBacked by the American Institute of Certified Public Accountants (AICPA)

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