A brief overview of forensic accounting and its present position in a Middle East country.

The world over economic crimes has increased in scale and size. The average annual cost of financial fraud is estimated to be around five per cent of the revenue of any company, with the overall figure amounting to trillions. This pervasiveness of economic crimes has highlighted the need for Forensic Accounting. Though this discipline in the present form is of recent origin, it has a long history that dates back to several centuries BC. Forensic Accounting involves the in-depth application of certain special skills in areas like accounting, auditing, finance, quantitative methods, research, law, etc. In addition to these a Forensic Accountant has to collect required evidences in the event of any criminal proceedings. Now Forensic Accounting is listed as one of the top 20 careers of the future. The present article discusses about the utility and prospects of Forensic Accountings as a profession and its present position in Saudi Arabia. Lots more need to be done in Saudi Arabia towards elevating the position of