Thus Forensic Accountants(FA) are in great demand in any organization that needs financial inspection. With growing rates of financial evasions like fraud, misappropriation, which news headlines highlights every day, it‘s probable that the demand for capable forensic experts will continue to increase. Necessity of transparency and integrity in the financial sector has further enhanced the significance of Forensic Accounting professionals. How Forensic Audit Certifications Helps: • Validating and enhancing ones standing as an advanced audit forensic professional with a detailed, credible, international knowledge. • Maintaining employer's confidence in candidates abilities and expand career opportunities with an achievement that confirms your expertise as well as your ability to grow and evolve with the forensics industry.
As seen above, forensic auditing involves a wide spectrum of engagements that particularly revolve around investigative work. The investigation includes financial malpractices and fraud investigation. Yet further, forensic accountants are invited as expert witness in the event the investigated fraud is subjected to judicial proceedings. Forensic accounting on the other hand refers to specific progressive procedures carried out to produce evidence (Gerson, J., Brolly and Skalak, 2011). It is a procedure that involves auditing techniques to identify and gather evidence to prove the nature of the fraud and develop the context of the fraudulent activity.
3) The fraudsters think that it is impossible to help them from outside. 4) The fraudsters think their act as borrowing because they plan to pay the money the stole back in some date of future. 5) The fraudsters may be thinking that something is belonging to them because not satisfied with salaries, job environment, and treatment by managers. 6) The fraudsters are cannot able to understand or does not care about the result of their activities or of accepted concepts of decency and trust. Fraud happens need three elements occurs at the same time.
Three Interesting Topic of Forensic Accounting Financial forensic accounting is the use of knowledge and skills to investigate fraud and to analyze financial information for the use in legal proceedings (Kranacher, 2011, P.5). The three most interesting topics are criminology, fraud examination, and categories of fraud. Criminology is the sociological study of crime and criminals. Few questions to consider while studying this topic is “why do people commit such crime,” “what can we do to prevent crime,” and “what knowledge and skill need to identify such criminals?”. Various types of crimes include occupational crime, white-collar crime, organizational crime, and tort, breach of duty, civil litigation which can destroy company’s success and
It is costly and takes time for a company to investigate a fraud case. Sometimes when fraud cases are prosecuted, the sentences they receive is very light compared to what they have done to the company. This discourages companies to report fraud. If the company doesn’t report a fraud on the other hand would have many problems. First of which, those who have acted illegally may think that they have not received any consequences to their actions and might repeat their actions in another workplace.
Forensic accounting is a difficult field to work in but it assures financial security and priceless experience while serving the nation. Job Description Forensic accountants analyze and investigate financial reports to look for signs of inconsistencies which indicate fraud. In such cases, forensic accountants will restructure the process and activities related to financial abuse in an organization. These experts will show presentations with supporting legal documents and real company data as proof that fraud actually took place. The court may ask them to testify about their investigation results.
Fraud is defined as “the intentional deception made for personal and monetary gain” (Hill, 2005). Many people think think of fraud as making an illegal ID or forging papers. Another type of fraud that often goes unnoticed to the untrained eye is unethical accounting, also known as accounting fraud or ‘Cooking the books”. Accounting scandals are complex and can be very tricky to locate even under close inspection of a company’s accounting records. Accounting relies heavily upon numbers balancing each other out.
Disrupting Financial Crimes and Organised Crimes: Nigeria's Perspectives Introduction and Background Crime is as old as man and equally dynamic. Financial crimes in particular, are among the largest challenges facing businesses and financial institutions worldwide today. Though it may be difficult to quantify how much is being lost to financial crimes globally, it is generally believed that losses are growing steadily while annual losses are estimated to be in billions of dollars. Globalization or advancement in technology has opened up many possibilities for criminals to carry out financial crimes in new ways thereby complicating the wave of the crime. Besides taking advantage of technology, weak controls in the financial system and minimal
Determine the relationship between growth opportunities and financial performance of listed manufacturing companies in the Nigeria. IV. Analyse the relationship between non-debt tax shields and financial performance of listed manufacturing companies in the Nigeria. V. Assess the relationship between dividend policy and financial performance of listed manufacturing companies in the Nigeria. VI.
Corruption is rampant; it has become embedded in the fabric of society. Since the country 's transition to democracy in 1999, there have been attempts to fight corruption with several reforms undertaken and institutions created. They include the establishment of anti-corruption agencies such as the Economic and Financial Crime Commission, Independent Corruption and other Practices Commission, and the National Financial Intelligence Unit. Reforms include public service reform, monetization to reduce waste and personnel, and reform of public procurement. Nevertheless, it is disturbing to note that the prevailing state of corrupt practices in Nigeria suggests that corruption itself is more institutionalised than the anti-graft agencies established to curb it.