Forensic accounting: a blend of knowledge

Tiwari, Reshma Kumari; Debnath, Jasojit

doi:10.1108/jfrc-05-2016-0043

Cited by 42 publications

(27 citation statements)

References 54 publications

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“…These developments highlight the potential of auditing in fraud detection over the past years. New developments in information technology further boost the availability and efficacy of auditing, and as a result, data analytics has become an essential tool for auditors (Baesens et al, ; Kumari Tiwari & Debnath, ). Data analytics refers to insights that are taken from operational, financial and internal or external electronic data sources and used for analysis.…”

Section: Introductionmentioning

confidence: 99%

Data‐driven auditing: A predictive modeling approach to fraud detection and classification

Singh

Lai

Vejvar

et al. 2019

J Corp Accounting Finance

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This article develops and empirically tests a predictive model for audit of fraud detection with practical applications for audit operations. By analyzing real‐life accounting data, the proposed model can identify anomalous transactions and directly focus on exceptions for further investigation in real time, thus offering a significant reduction in manual intervention and processing time in audit operations. Our approach is a highly desirable supplement to the existing rule‐based models, given the growing use of information technology for analytics in auditing. The proposed approach is based on classification. Following the tenets of the principal agency theory, we discuss how our approach can help to reduce monitoring and contracting costs, disincentivize fraud, improve auditor efficiency and independence, and increase audit quality. We contribute to the current literature by discussing the implications of data‐driven audit on the moderating role of auditors in principal‐agent relationships and providing practical insights into the operational aspects of financial reporting and auditing, modeling of fraud‐detection classification models, and benefits, barriers, and enablers of implementing data driven audit in companies.

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Section: Introductionmentioning

confidence: 99%

Data‐driven auditing: A predictive modeling approach to fraud detection and classification

Singh

Lai

Vejvar

et al. 2019

J Corp Accounting Finance

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“…Forensic accounting services are broad; thus, forensic accounting is a multidisciplinary specialization (Hegazy et al, 2017). Forensic accountants practitioners can work in different types of organizations including, insurance companies, public institutes, police forces, banks and government agencies (Tiwari and Debnath, 2017;Yogi Prabowo, 2013). Although there is an overlap between some services that forensic accounting provides (e.g.…”

Section: Background Of Forensic Accountingmentioning

confidence: 99%

“…According to Hegazy et al (2017), forensic accountants may act as an advisor providing professional assistance to lawyers in the litigation process or present evidence in a financial lawsuit. Litigation support services may include; dispute resolution, dispute advisory, expert witness engagements and consulting services (Curtis, 2008a;Tiwari and Debnath, 2017). Forensic accountants could provide business valuations services in some circumstances, including cases such as personal injury, risk analysis advice bankruptcy, family law, matrimonial issue, stock-based compensation and the fair value of financial reporting (DiGabriele and Lohrey, 2016;Kohn, 2014).…”

Section: Background Of Forensic Accountingmentioning

confidence: 99%

“…Although there are prior reviews of the forensic accounting literature (Botes and Saadeh, 2018;Howieson, 2018;Huber and DiGabriele, 2015;Tiwari and Debnath, 2017), it is important to understand the factors that affect forensic accounting education and profession in both positive and negative ways. Forensic accounting literature is increased in the last few years (Honigsberg, 2020;Huber and DiGabriele, 2015;Ozili, 2020;Ramos et al, 2019).…”

Section: Introductionmentioning

confidence: 99%

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

Alshurafat

Shbail

Mansour

2021

JBSED

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PurposeThis review aims to provide an understanding of the strengths and weaknesses of forensic accounting education and profession.Design/methodology/approachThis paper reviews published forensic accounting studies to explore forensic accounting strengths and weaknesses.FindingsThe strengths of forensic accounting are its benefits to students and accounting professionals, the significant need and increasing demand, the new career channels and the reduction of fraud. The weakness factors are the lack of regulation, the lack of control over the profession entry, the lack of agreement on how to teach forensic accounting, the lack of specialized research journals, the misconception of its intrinsic aim, the lack of highly qualified practitioners and educators and the lack of public recognition and occupation reputation.Practical implicationsIt is hoped that this structured investigation of the factors relevant to the current and future status of forensic accounting education and profession will provide a sufficient overview of the critical issues and concerns that are important to be known for understanding and advancing the vital application of forensic accounting on the Socio-Economic Development. It is anticipated that this paper has an impact on future policy that ultimately contributes to improving business and limit fraud incidents, thus, it can contribute to business and socio-economic development.Originality/valueThe literature on forensic accounting is extensive and varied. However, there is a lack of comprehensive understanding of the strengths and weaknesses of forensic accounting. This study provided policymakers with a comprehensive understanding of forensic accounting.

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“…Tiwari and Debnath, 2017 [25] Forensic accountants must have specific training in accounting and personal skills to perform their work properly.…”

Section: Imoniana Et Al 2016 [43]mentioning

confidence: 99%

Research Topics in Accounting Fraud in the 21st Century: A State of the Art

2019

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Companies play a role in society that clearly goes beyond mere economic interest. Their contribution to social development and to the sustainability of the territory where they are located seems unquestionable. However, after the great financial scandals of companies such as ENRON, WorldCom or AHOLD, interest groups require accurate and transparent financial information. The development of more demanding financial reporting standards seems, however, not to have been up to scratch, since accounting fraud continues to be detected all over the world. The search, therefore, for possible causes that may induce companies to act unethically was the main motivation behind this research. To do this, a review of the literature in high-impact journals that has dealt with accounting fraud, covering the main lines of research, was carried out. The findings of the literature review highlight the importance of responsible corporate governance and good accounting practices, as well as the importance of certain psychological characteristics of managers and employees as enhancers of the lack of ethics. It is clear that the social cost of accounting fraud should be minimized, and governments should develop specific policies that combine responsible corporate governance in companies with the sustainability of their environment.

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Forensic accounting: a blend of knowledge

Cited by 42 publications

References 54 publications

Data‐driven auditing: A predictive modeling approach to fraud detection and classification

Data‐driven auditing: A predictive modeling approach to fraud detection and classification

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

Research Topics in Accounting Fraud in the 21st Century: A State of the Art

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