1. A very obvious and discrete key difference which one can identify between a traditional auditor VS a forensic accountant is that :
The former is someone who checks the math accuracy in the accounting department while the latter is someone whom are looking behind these financial numbers find out what’s not quite right.
2. The second differentiation is the “investigative intuition”.
Intuition refers to the gut instinct which one may have to guide you to the appropriate direction as of where your investigation should start from. This is not text book earned, but rather something which can be earned through massive experiences. Most of the time, no investigation intuition is found nor required in the traditional accounting scope.
What Are the Key Differences Between Forensic Accounting and Traditional Accounting?
3. Traditional auditing is a process of auditing others’ work to determine if they have followed the documented official policies, procedures and practices of the company. The determination is based on evidence. It is a matter of fact and not merely a matter of opinion. This kind of audits is required by financial intermediaries and the government depending on circumstances.