Manual on Forensic Accounting - 2114 Words

FORENSIC ACCOUNTING Introduction Necessity is the mother of all inventions. Yes, it is the growing arena of business and surging number of white-collar crimes that have paved the way for the development of Forensic Accounting. According to AICPA, â€Å"Forensic Accounting is the application of accounting principles, theories and discipline to facts or hypothesis at issues in a legal dispute and encompasses every branch of accounting knowledge.† According to The Accountant’s Handbook on Fraud and Commercial Crime, Forensic Accounting is the application of financial skills and an investigative mentality to unresolved issues, conducted within the context of the rules of evidence. Forensic Accounting borrows knowledge from Accounting,†¦show more content†¦It is a relative thing, that is where fraud and forensic crossed each other’s path. Fraud doesn’t necessarily end up in court, but forensic accountant has to make evidence suitable for admission in court. It is a stereotype thing, as long as auditors are concerned, audit report is supposed to be a mere true and fair view of an account, but when if you are to prove or disprove an allegation of fraud, there must be a forensic accounting investigation and report. It might have been tampered with, ours is not to determine whether the suspect is guilty or not, but to give a better interpretation to the evidences. It impacts on the financial sector of the economy. There are lots of procedures in forensic that you cannot violate like that chain of command, you have to know how the evidences were taken and preserved to avoid cases of tampering with evidence in our court. One major weapon accountants have is the use of questions or the interview technique in conducting auditing jobs; there is no way you can start working without questioning, that is the most critical thing, but not many accountants know its utmost usage, in forensic, we call this embedded incompetence. What actually determines the success of the forensic report is the interview technique. Forensic Accounting ensures: (a) Assessment of the damages causedShow MoreRelatedEssay on Computer Forensics Case Projects Chapter 2786 Words   |  4 Pagescompany information on form and secure the evidence * Request statements from officers on the condition of the computer on time of raid * Request a list of keywords to search * Transport Gateway computer to our secured forensics lab * Prepare a forensics workstation specifically for this case * Make two images of hard drive using two different tools * Examine drives for evidence by running keyword searches and checking URL’s for Internet searches. * Search registry forRead MoreThe Development Of South Africa Essay878 Words   |  4 Pagesthe Gautrain Project, valued at US$3.1 billion (ZAR23 billion), which is one of the largest high-speed rail projects on the African continent. 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