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NEW YORK (March 20, 2014) - The American Institute of CPAs today announced a forensic accounting mentorship program. The Certified in Financial Forensics Mentor Program is designed for AICPA members interested in developing their skills and business practices in forensic accounting through the help of more experienced forensic professionals.
CPAs who specialize in forensic accounting perform work in areas such as bankruptcy and insolvency; electronic data analysis; family law; valuations; fraud prevention; and damages calculations. AICPA research has predicted increasing demand for forensic services, largely due to an anticipated uptick in litigation and regulatory enforcement.
“As demand for forensic accounting services have grown, we’ve seen a corresponding increase in interest from our membership. The AICPA developed the CFF Mentor Program to provide guidance for CPAs who are just entering the field of forensic accounting and more experienced CPAs looking to take the next step in their forensic practice.” said Robert Harris, CPA/CFF, CGMA, chair of the AICPA’s CFF Credential Committee, and former chair of the AICPA.
Interested CPAs who apply to the program will be paired with mentors who hold the AICPA’s Certified in Financial Forensics credential. Mentors will be assigned to protégés based on an individualized model, which weighs their specific needs and interests. Mentors will provide guidance and help their protégés understand how the financial forensics industry works, while easing their assimilation into the field.
“Our volunteer mentors are available to share their knowledge and experience on practice management issues, industry-wide best practices and serve as a resource for protégés.”
The AICPA established the CFF credential in 2008 for CPAs who specialize in forensic accounting. The CFF credential is granted exclusively to CPAs who have met rigorous education, experience and testing requirements.
More information is available online for AICPA members interested in the CFF Mentor Program.
About the AICPA Forensic and Valuation Services Section
The Forensic and Valuation Services (FVS) Section is a membership section within the AICPA that represents CPAs that provide financial forensic accounting and business valuation services. FVS Section members represent many areas of practice, including: bankruptcy, insolvency and reorganization; dispute advisory services; economic damages calculations and due diligence; electronic data analysis, employee stock ownership plans; estate and gift; fair value; family law; financial statement misrepresentation; fraud prevention, detection and response; and valuation.
The FVS Section develops and grades the Certified in Financial Forensics (CFF) and Accredited in Business Valuation (ABV) Examinations and offers the CFF and ABV specialty credentials for CPAs who concentrate on financial forensic accounting and business valuation. In 2007, the AICPA issued valuation standards, Statement on Standards for Valuation Services No. 1: Valuation of a Business, Business Ownership Interest, Security, or Intangible Asset.