Forensic Accounting Defined: According to Investopedia, Forensic Accounting utilizes accounting, auditing, and investigative skills to conduct an examination into a company’s financial statements. Thus, providing an accounting analysis that is suitable for court. Forensic accountants are trained to look beyond the numbers and deal with the business reality of a situation. They are frequently used in fraud cases. They are typically CPAs, CFEs with expertise in financial analysis, criminal fraud examination and testifying in court. Forensic Accountants are hybrids of an accountant and a private investigator: an auditor who understands fraud schemes, and knows how to collect and organize the legal evidence.