Gerald Bancud’s career in accounting began in one of the most structured environments in the profession. He started in assurance with SGV & Co. and Ernst & Young, where he worked on audits of publicly listed companies and large corporations across multiple industries. The discipline of those firms gave him a solid technical foundation—financial reporting, internal controls, and risk assessment became second nature early in his career.
But what kept Bancud engaged was not structure alone. It was meaning.
“What initially drew me into accounting and finance was the idea that behind every set of financial statements is a story,” he says. For him, numbers were never just compliance outputs. They were narratives about decisions made, risks taken, opportunities missed, and sometimes, truths concealed.
That perspective deepened when he left traditional firm practice and began working as an independent practitioner in the private sector. It was there that forensic accounting entered his career—not by design, but by necessity. A lawyer approached him to investigate suspected cash malversation in a company. The owner believed funds were being siphoned but needed an evidence-based assessment.
“That engagement opened my eyes to the investigative side of accounting,” Bancud recalls, “where documents tell a different story from what people say.”
The case was successful. Irregularities were uncovered, losses were quantified, and the findings stood up to legal scrutiny. Soon after, more complex engagements followed—larger frauds involving multiple actors and layered concealment techniques. “One case led to another,” he says, until forensic accounting stopped being an occasional engagement and became the core of his work.
What solidified the shift was not just technical challenge, but responsibility. Forensic accounting required skepticism, judgment, and the ability to stand firm under pressure. Bancud found himself presenting findings to lawyers, regulators, and governance bodies—situations where precision and objectivity mattered as much as courage.
In today’s business environment, Bancud believes forensic accountants are more critical than ever. “As organizations grow more complex and technology enables faster transactions, the opportunities for concealment also expand,” he explains. Fraudsters, he adds, have become “more intelligent, more creative, and more difficult to detect.”
In that context, forensic accountants serve a distinct role. They are not management advocates, nor compliance box-checkers. “Forensic accountants serve as the independent, analytical, and highly skeptical eyes of an organization,” Bancud says. Their work spans investigations, litigation support, and internal control assessments—but at its core, it is about restoring trust.
The challenges shaping the field are equally demanding. Locally, Bancud points to a shortage of CPAs with true forensic expertise. Globally, the rise of cyber-enabled fraud, cryptocurrency transactions, cross-border schemes, and AI-driven manipulation has expanded the scope of investigations beyond traditional accounting knowledge. “To succeed in forensics,” he notes, “one must possess technical competence, deep analytical skills, and a high level of professional skepticism.”
Despite the intensity of the work, Bancud, now Certified Forensic Accountant, is clear about its purpose. Forensic accountants are not simply investigators after the fact—they help prevent escalation, reinforce accountability, and protect institutions from systemic failure. Their findings inform decisions, support governance, and send a clear signal that misconduct will be detected and addressed.
Ultimately, what distinguishes forensic accounting for Bancud is its alignment with values. Integrity, objectivity, and evidence are non-negotiable. “In a world where trust is currency and reputation can be lost overnight,” he says, forensic accountants help ensure that transparency exists not just in reports, but in how organizations operate.
His journey—from structured audit environments to high-stakes investigations—reflects a broader truth about the profession. Forensic accounting is not merely a specialization. For those who pursue it seriously, it becomes a commitment to uncovering the story behind the numbers—and standing by it, even when it is uncomfortable.
