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What is the difference between an auditor (who conducts traditional financial statement audits) and a “forensic” accountant/auditor?

April 26, 2017Accountant Auditor audits Conducts difference financial statement traditional

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What is the difference between an auditor (who conducts traditional financial statement audits) and a “forensic” accountant/auditor?

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A. Financial statement auditors are not necessarily looking for fraud, but must consider the risks of fraud in conducting their audit (i.e. a “watchdog”). Conversely, a forensic accountant is typically hired to investigate specific allegations of fraud (i.e. a “bloodhound”).