Forensic accounting technology is designed to make the job of a forensic accountant easier, more efficient, and more cost-effective. Increased reliance on technology means that accountants no longer need to spend their days rifling through boxes of disorganised paperwork, and can now focus more of their attention on the intricacies of other, more important areas of the case.
While this does not completely negate having to analyse physical documentation, particularly when working with some more traditional workplaces, the rise of technology makes it possible to analyse data in a significantly shorter amount of time than could have been done before.
Lost or deleted evidence can be retrieved and extracted to be used in court, relevant documents can be keyword-searched to save time, evidence can all be shared with colleagues in seconds — no matter where they are.
This increasing reliance on forensic technology is exactly why all forensic accountants today are required to have an in-depth understanding and knowledge of up-to-date technology and softwares that can be utilised to make their job more efficient and cost-effective for clients.