A metamorphosis of the traditional accountant

Abstract

PurposeThe aim of the study is to identify the latest trends in accounting forensic work in Australia by examining how accounting firms that specialise in forensic services meet the needs of their clients, and to inform universities on the appropriate curricula to ensure the knowledge and skills of future graduates meet industry expectations.Design/methodology/approachThe methodological approach taken in this study was exploratory, and qualitative semi‐structured interviews were the primary data collection instrument used.FindingsFindings from 32 interviews with Australian practising forensic professionals suggest that these services are broad and complex. Opinions differ widely on the best way forward for this area of the accounting profession. Both work‐based and personal attributes required by practising forensic professionals together with the wide range of complex services offered in Australia are presented in a posited model, providing a unique contribution to international forensic accounting literature. Forensic services firms require strong work‐based skills such as oral and written communication skills, technology and analytical skills, in addition to an accounting qualification, as part of their under‐graduate or post‐graduate degrees.Practical implicationsPerceptions were also that graduates require strong interpersonal skills, enthusiasm, intelligence and the ability to work independently and although this has been reported in the literature previously, findings from this study suggest there is still a deficiency in forensic accounting graduates skill set, particularly in relation to oral and written communication. The lack of an Australian‐based forensic accounting certification was also raised.Originality/valueBoth work‐based skills and personal attributes are presented in a posited model of the Australian forensic accountant, providing a unique contribution to international forensic accounting literature.

Strengths and weaknesses of forensic accounting: an implication on the socio-economic development

“…In fact, a forensic accountant plays a significant role in the process of detecting, preventing and prosecuting those individuals who are involved in criminal activity such as financial misstatement, money laundering, and identity theft (Honigsberg, 2020;Sanchez, 2012). Besides, forensic accountants are expected to deal with computerized environments and engage with a variety of work such as information technology, data mining, and computer forensics (Pearson and Singleton, 2008;Rezaee and Wang, 2019;Van Akkeren et al, 2013). Pearson and Singleton (2008) named various cybercrimes where forensic accountants can take a significant role, such as credit card fraud, online narcotic sales, telecommunications fraud, online/email extortion, online gambling, theft of computer privacy and intellectual property rights.…”

“…In addition, the number of forensic accounting firms has been increased (Hegazy et al, 2017;Van Akkeren et al, 2013;Van Akkeren and Tarr, 2014). The increase in forensic accounting profit in the USA is greater than the overall national GDP increase (Huber, 2014).…”

“…Therefore, anyone can claim the title of a forensic accountant. Thus, the forensic accounting profession is left open to non-accounting-based experts (Van Akkeren et al, 2013). The absence of control over profession entry has been mentioned by Crumbley et al (2004), who claimed that there are no comprehensive standards or generally accepted rules that govern the forensic accounting profession in the world.…”

“…Both work-based and individual attributes are required by the forensic accounting practitioner, mutually with a broad range of sophisticated competencies. Forensic services expect useful work-based competencies such as oral and written communication skills, technological and analytical skills (Van Akkeren et al, 2013). A second reason is that the need for highly qualified practitioners could cost too much for many entities.…”

Cpa Firm’s Cloud Auditing Provider for Performance Evaluation and Improvement: An Empirical Case of China

“…An indepth examination of this issue can assist CPA firms to operate in this knowledge-extensive business environment, which relies heavily upon IT (information technology) (Yigitbasioglu, 2015). For instance, many auditors and CPA firms use computer-assisted auditing techniques and support systems (Dowling & Leech, 2014;Van Akkeren, Buckby, & MacKenzie, 2013). However, cloud outsourcing of corporate IT services (e.g.…”