The accounting Profession Assignment Example | Topics and Well Written Essays - 500 words

The accounting Profession - Assignment Example The article provides an analysis of the SWOT analysis for Deloitte. It provides information on the performance of the company in the auditing field of business. The analysis is very helpful for the reader in the sense than one gets to understand both the internal and external environments of the company that influence its performance. The internal environment relate to strength and weaknesses whereas the external environment relates to issues such as opportunities and threats. Litigation support and fraud accounting are both areas in the field of forensic accounting. However, there exists a difference between the two areas. Litigation support involves the forensic accountant giving opinion about existing facts or facts that are yet to be uncovered. On the other hand, fraud accounting involves making investigations to unmask cases of fraud on the company books of accounts. The difference arises from the fact that a forensic accountant only provides an opinion in the case of litigation support whereas he gets involves in making investigation in the case of fraud accounting. This means that a forensic accountant has a passive role in litigation support and an active role in fraud accounting. The most important skill is working experience gained from everyday accomplishment of forensic accounting tasks. This skill is very crucial because the longer a forensic accountant has been in the profession, the greater the ability to handle various challenges related to everyday tasks. Experts comment that despite an accountant gaining knowledge in internal controls, accounting and auditing, taxation, and business operations the most important thing is maturing in the profession. Maturing is achieved by a forensic accountant spending a great deal of time performing tasks related to his or her profession. A forensic accountant should also have adequate training in relevant fields to his or her profession