Is It Time to Regulate ‘Forensic’ Accountants?

Troubling problems in the forensic accounting profession and the certification industry.

By Wm. Dennis Huber
Capella University

Significant prob­lems are surfacing within the forensic accounting profession and the forensic accounting certification industry, undermining both the profession and the industry.

Four factors are combining to cause confusion among not just forensic accountants, but also the users of forensic accounting services: (1) The disparity in the legal statuses of the certification corporations; (2) the qualifications of their directors and officers; (3) the educational, experience and examination requirements; and (4) the (non)existence and (non)enforceability of codes of ethics and standards of practice.

It may be time for the National Association of State Boards of Accountancy to step in.