Dawdy brings forensic accounting to MU
Forensic accounting is a growing industry in the business world.
Published Feb. 20, 2009
Forensic accounting and fraud investigation will be the subject of a new lecture series sponsored by an alumnus of the School of Accountancy.
The alumnus, Jay Dawdy, is now a senior managing director and partner in the New York firm Gryphon Investigations. Last fall, Dawdy served as professor-for-a-day in a forensic accounting class when the idea was planted of him sponsoring the lecture series.
"I talked to a some of the accounting alumni and Dr. Vairam and I kept in touch and just talked about forensic accounting and financial investigations," Dawdy said. "I wanted to see how I could help out going forward and this idea evolved. We formulated it together."
School of Accountancy Director Vairam Arunachalam has been working with Dawdy to decide whom they will invite to speak.
"Bringing these professionals to campus will expose our students to the intricacies of the profession and the options for future careers in the field," Arunachalam said in a Feb. 5 news release.
The opportunity "will greatly benefit our students," he said.
Lecturers will include high-profile professionals in the forensic accounting and fraud investigation industry. Dawdy said he has already begun circulating word of the opportunity within his circle of contacts.
"The beginning point for both of us is to put our heads together," Dawdy said. "We're trying to get some pretty prominent speakers from across the country."
Forensic accounting is a very specified branch of business. Dawdy said it entails using investigative skills to get the information you need to prove a case.
Forensic accountants look at numbers very differently than other accountants because they are looking to see what went wrong: they try to figure out if someone stole money or if they "cooked the books," Dawdy said.
"Or in some cases you might be trying to track down hidden assets or establish committed fraud in a particular case," Dawdy said.
Despite the differences, a person with an accounting background can focus specifically on forensic accounting by taking a few classes and working in the field, Dawdy said.
"It's a great way for students to use their accounting skills and go into an interesting industry, as we've all seen the headlines," he said. "There's a big need for qualified fraud investigators."
Enron, WorldCom and Xerox are just a few of many big fraud cases in which forensic accountants were employed in the past few years.
College of Business development director Mike Haggas said the series will begin in the fall.
"We've always offered courses in forensic accounting and fraud investigation within the School of Accountancy," Haggas said. "This gift is to augment what we're already teaching in the classrooms."
The series will bring fraud investigation experts into Cornell Hall to start working and talking with students about the growing industry in general as well as possible careers and programs, he said.
It is still undecided whether all MU students or just those in the School of Accountancy will be invited to attend. It will depend on resources and who the speaker is, Haggas said.
Personally, Dawdy plans on attending the inaugural lecture and as many as his schedule allows in the future.
"I want to stay personally involved as much as possible," he said.