Forensic accounting.docx

Forensic accounting.docx - Financial Forensics the future...

Info icon This preview shows pages 1–2. Sign up to view the full content.

Financial Forensics - the future of Audit Introduction: Accounting today has progressed from what it used to be several years ago. Today, we can find many new branches and trends in accounting and finance such as Green Accounting, cloud accounting etc. Financial forensics is a special branch of accounting that combines accounting, auditing and investigation. Financial forensics is also known as forensic accountancy and forensic accounting. Forensic accountants or professionals are generally referred to as financial or forensic auditors or investigative auditors more precisely because of the investigative knowledge and analytical ability a Forensic accountant/auditor has to possess. Today most of the large accounting firms, accounting departments and government agencies make use of forensic accounting and have specialist forensic accounting departments. Forensic accountants assist Courts, governments and other such law enforcement agencies or statutory authorities in solving crimes by interpreting financial data and are mostly utilized to solve crimes that are either completely or partially financial in nature A financial forensic accountant may further specialize as: 1. An insurance claim forensic accountant. 2. fraud based forensic accountant. 3. money laundering forensic accountant. 4. Securities / tax fraud forensic accountant etc. History: One can easily mistake forensic accounting to be a fairly new branch of accounting. However, it is surprising to note that there has been evidence to prove that forensic accounting was in place for several decades. Ancient archaeological findings in Egypt reveal that the Egyptians were very much involved in the prevention and detection of fraud; which happens to be one of the major objectives of financial forensics.
Image of page 1

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern