In today’s world, where the need for forensic accountants is on the rise, the Zicklin Forensic Accounting Association is proud to hold an event that would inform students about a field in which this profession is increasing in usage and popularity. On March 9th, 2017, ZFAA hosted guest speaker Dennis Neier, a professional with decades of experience in accounting and the United States legal system, to speak about the forensic accountant’s role in Alternative Dispute Resolution (ADR).
ADR refers to methods of resolving disputes outside the courtroom and traditional litigation. During the seminar, Mr. Neier reviewed the two major forms of ADR: mediation and arbitration. He discussed the pros and cons of those methods in comparison to courtroom litigation. According to him, forensic accountants are increasingly becoming an integral part of the ADR process and can serve in a variety of roles. In addition to the more common role as consultant or witness expert, an accountant who is qualified can also serve as neutral arbitrator, a member of an arbitration panel, a negotiator or special mediator. The guest, himself, became an arbitrator after testifying as an expert witness in arbitration and being invited to another case to join a panel of arbitrators. He shared examples of arbitrations he took part in and answered questions that arose during the presentation.
Now that the role of forensic accounting is increasing rapidly and more arbitration accountants are specializing in forensics, perhaps it would be wise for students to consider pursuing this career path. Not only would it be highly satisfying to provide aid to other, this career path also has an incentive of high pay, as mentioned by Mr. Neier.
ZFAA is honored to have the opportunity to have Dennis Neier come to Baruch College and enlighten students on the forensic accountant’s increasing role in Alternative Dispute Resolution.
By Justyna Maj, edited by Serena Law