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    Forensic Accounting-Mid Sem

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    Saloni Parakh
    This document discusses forensic accounting and its importance in detecting fraud. It begins by outlining the objectives of recognizing the need for forensic accounting today, highlighting its problems and prospects, understanding forensic techniques to recognize schemes, and examining how it can reduce fraud cases. It then defines forensic accounting as accounting analysis that can uncover possible fraud for court presentation by combining accounting with information technology in a scientific method. Forensic accountants are experienced auditors and investigators hired to investigate possible fraud within companies or to prevent it. They are often retained by lawyers, police, insurance companies, government agencies, banks, and courts. Forensic accounting brings special skills in accounting, auditing, legal environment understanding, and communication to find facts and figure out scam procedures and

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    Forensic Accounting-Mid Sem

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    Saloni Parakh
    503 views16 pages
    This document discusses forensic accounting and its importance in detecting fraud. It begins by outlining the objectives of recognizing the need for forensic accounting today, highlighting its problems and prospects, understanding forensic techniques to recognize schemes, and examining how it can reduce fraud cases. It then defines forensic accounting as accounting analysis that can uncover possible fraud for court presentation by combining accounting with information technology in a scientific method. Forensic accountants are experienced auditors and investigators hired to investigate possible fraud within companies or to prevent it. They are often retained by lawyers, police, insurance companies, government agencies, banks, and courts. Forensic accounting brings special skills in accounting, auditing, legal environment understanding, and communication to find facts and figure out scam procedures and

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    Forensic Accounting

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    Forensic Accounting-mid Sem

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    This document discusses forensic accounting and its importance in detecting fraud. It begins by outlining the objectives of recognizing the need for forensic accounting today, highlighting its problems and prospects, understanding forensic techniques to recognize schemes, and examining how it can reduce fraud cases. It then defines forensic accounting as accounting analysis that can uncover possible fraud for court presentation by combining accounting with information technology in a scientific method. Forensic accountants are experienced auditors and investigators hired to investigate possible fraud within companies or to prevent it. They are often retained by lawyers, police, insurance companies, government agencies, banks, and courts. Forensic accounting brings special skills in accounting, auditing, legal environment understanding, and communication to find facts and figure out scam procedures and

    Copyright:

    © All Rights Reserved
    Download as PPT, PDF, TXT or read online from Scribd
    Download as ppt, pdf, or txt
    503 views16 pages

    Forensic Accounting-Mid Sem

    Uploaded by

    Saloni Parakh
    This document discusses forensic accounting and its importance in detecting fraud. It begins by outlining the objectives of recognizing the need for forensic accounting today, highlighting its problems and prospects, understanding forensic techniques to recognize schemes, and examining how it can reduce fraud cases. It then defines forensic accounting as accounting analysis that can uncover possible fraud for court presentation by combining accounting with information technology in a scientific method. Forensic accountants are experienced auditors and investigators hired to investigate possible fraud within companies or to prevent it. They are often retained by lawyers, police, insurance companies, government agencies, banks, and courts. Forensic accounting brings special skills in accounting, auditing, legal environment understanding, and communication to find facts and figure out scam procedures and

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    Presented bySaloni Parakh

    3rd Year
    BBA(Finance)
    Roll-102

    OBJECTIVES
    To recognize the need for forensic accounting in the
    business world today.
    To highlight the problems and prospects of forensic
    accounting.
    To understand how to utilize common forensic
    techniques to recognize schemes and scams.
    To examine the possibility of reducing the
    occurrence of fraud cases using Forensic Accounting.

    Accounting analysis that can uncover


    possible fraud which is suitable for
    presentation in court.

    Combines Accounting with Information


    Technology.

    It is a Scientific Method for presenting


    fraud matters.

    Forensic accountants are experienced auditors, accountants,


    and investigators of legal and financial documents

    They are hired to look into possible suspicions of fraudulent


    activity within a company; or are hired by a company who
    may just want to prevent fraudulent activities from occurring.

    WHO RETAINS A FORENSIC ACCOUNTANT???


    Forensic Accountants are often retained by the following
    groups:
    Lawyers;
    Police Forces;
    Insurance Companies
    Government Regulatory Bodies and Agencies;
    Banks
    Courts

    BASE OF PIZZA:
    ACCOUNTING
    KNOWLEDGE
    MIDDLE LAYER:
    DISPERSED KNOWLEDGE
    OF AUDITING,INTERNAL
    CONTROLS, RISK & FRAUD
    ASSESSMENT

    TOPPINGS:
    UNDERSTANDING
    LEGAL ENVIRONMENT
    CHERRY ON THE
    TOPPINGS:
    STRONG SET OF
    COMMUNICATION SKILLS

    THE SATYAM FIASCO

    DETECTION OF SUCH WHITE COLLAR


    CRIMES

    DEVELOPMENT OF STRONGER AUDIT


    REGULATIONS

    KPMG ALONG WITH DELOITTE WERE


    TASKED WITH RESTATING THE ACCOUNTS
    OF SATYAM.

    Forensic accounting is not new. Accountants have provided


    fraudulent financial records investigation and litigation
    support to corporations for decades.

    Forensic accounting bring special skill sets, logical


    perspective as well as experience in internal accounting of
    the firm.

    They have interviewing skills to find fact from witnesses.

    They have relevant language skills and ability to meet


    geographically diverse investigation.

    They have a strong sense and ability to figure out the


    proceedings and behaviour during scams.

    CONCLUSION
    To curb the ever increasing fraudulent activities, Forensic
    Accounting has become an essential Pre-requisite because it
    :
    1. Provides litigation support service with appropriate
    provisions.
    2. Institutes good corporate governance in entirety.
    3. Encourages development, employment and the standard
    of living of the people.
    4. Has scope for separate niche consulting.

    AICPA, Special Report, Forensic Procedures and Specialists: Useful Tools


    and Techniques
    Association of Certified Fraud Examiners, Fraud Examiners Manual, Vol.
    II, pp. 10-15.
    Association of Certified Fraud Examiners, Fraud Magazine March/April,
    May/ June, July/August 2009
    Association of Certified Fraud Examiners, Understanding the basics of
    Mortgage Fraud, Second Edition.
    Bruce Frey, Statistics Hacks.
    B.R. Sharma: Banks Fraud, Universal Publication
    G.Jack Bologna e.t Robert J. Lindquist- Fraud Auditing and Forensic
    Accounting, Third Edition.
    Howard Silverstone e.t Howard R. Davia, Fraud 101,2007, Techniques
    and Strategies of Fraud Detection, Vol.III, pp. 724-884.
    Joseph T Wells, 2005, Corporate Fraud Handbook, Prevention and
    Detection, Second Edition
    Martin T. Biegelman e.t Joel T Barton, 2004, Executive Roadmap to Fraud
    Prevention and Internal Control.

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