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Forensic accounting is one of the fastest growing areas of accounting jobs in the market today. This specialized area is interesting and dynamic, and provi

According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product

des unlimited opportunities for the next few decades.

Forensic accountants work in two primary areas, investigative accounting and litigation support. Inve

; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.

Examples of combination products may in

tigative accounting encompasses not just the numbers and documents of a company, but the business environment as well. Forensic accountants investigate the

lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.

financial operations of an enterprise and prepare information that may be used in a criminal or civil court case. Forensic accountants provide investigati

here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe

e services or provide support for litigation.

Forensic accountants will often spend time at the business they are investigating, collecting and analyzing f

d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.

Combination pro

inancial data. Most of this analysis is done on the computer, so good computer skills and knowledge of software is essential to this position. The forensi

ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc

accountant will collect evidence and documentation that may be used in a courtroom proceeding, and will prepare reports to be used the management of the co

easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi

mpany being investigated, parties to the litigation or law enforcement agencies. Often, the forensic accountant will be required to testify in court or pro

nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically

ide depositions as to their findings.

Forensic accountants are employed by a variety of companies and agencies. Many law enforcement agencies have forensi

and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ

c accountants on staff to assist with criminal investigations. Often, these accountants follow the money trail to help track and prosecute a criminal. Man

ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi

CPA firms have forensic accountants on staff, and more firms are specializing in forensic accounting to assist with shareholder and partnership disputes, b

ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

Following aspects would a

siness loss, fraud or employee theft investigations and professional negligence issues. Other forensic accountants work for or with insurance companies to

dd to the challenges in developing combination products:

Which markets to tap where the combination products can do fairly well?
Which combination prod

investigate business interruption and other types of claims. Forensic accountants routinely work for or with law enforcement agencies, lawyers, insurance co

cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin

panies, business owners and government agencies.

About 40% of the top 100 accounting firms in the United States now have a forensic accounting department,

tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen

and the field is expected to be one of the top 20 job markets in the next few years. How do you become a forensic accountant? A bachelor’s degree in accoun

t?

As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel

ing is required, and most are already certified public accountants (CPA’s). Additional coursework in areas like law enforcement and criminal justice is us

ping new procedures for reviewing their safety, efficacy and quality.

Professional from academic institutions, pharmaceutical industries, health care indust

ually required, and some legal training is helpful. You may want to pursue a accreditation as a certified fraud examiner (CFE) from the Association of Cert

y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products

fied Fraud Examiners. This is a nationally recognized accreditation similar to the CPA designation.

Entry salaries in this field range from upwards of $30

.

As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de

,000 to $60,000, but experienced forensic accountants often exceed $100,000 per year and more. So, if you are looking for a lucrative, interesting job with

elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip

plenty of upward mobility, consider forensic accounting. With almost unlimited growth for the next few decades, it’s an accounting job with great potential

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

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Have you ever wondered as a business-person why print advertising in the local newspaper key of such dismal results? Have you ever wondered why the advertising sales representatives and account executives as they are called continually tell you that it is about exposures and repetition? They tell you this as you give them a check each month for the advertising that never really pulls for you.

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