Should the Forensic Accounting Profession Be Regulated?

Huber, Wm. Dennis

doi:10.2139/ssrn.2385134

“…The forensic accounting profession is neither regulated nor there is any consensus regarding the qualification of forensic accountants (Huber, 2013). But, the demand for forensic accountants is on the rise.…”

Section: Discussionmentioning

confidence: 99%

Forensic accounting: a blend of knowledge

Tiwari

¹

,

Debnath

²

2017

JFRC

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Purpose The purpose of this paper is to develop an insight into the skill sets that forensic accounting practitioners need to possess to succeed in the practice of forensic accounting. Design/methodology/approach The present paper is based on a literature review. Findings Forensic accounting education is multi-disciplinary. It encompasses auditing, accounting, statistics, information technology (IT), legal rules and human skills. It is similar to auditing, yet different. Hands-on statistical tools act like an additional equipment for quick delivery of the output when data are large. Proficiency in using IT tools is a must to detect cybercrimes. Human skills are gaining importance because of social engineering attacks. Forensic accountants must be acquainted and updated with the relevant laws. Various investigative skills and knowledge are also essential in forensic accounting. Practical implications Forensic accounting education can be developed as a separate discipline for proper regulation of forensic accounting profession. In that case, the need for development of separate forensic accounting standards may arise. This issue needs to be dwelt upon by the academia and professional bodies. Originality/value The paper will enable the universities/institutes to design the appropriate curricula, assigning due consideration to the required knowledge and skill sets in forensic accounting education.

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“…This emphasis is attributed to the importance of forensic accounting and based on many indications such as recognising it as a discipline (Mitric et al, 2012;Salleh and Ab Aziz, 2014) or a sub-discipline (Stone and Miller, 2012), giving it the status of a profession (Renzhoua, 2011;Huber, 2012;Dutta, 2013;Huber and DiGabriele, 2014), calls for regulating its activities (Huber, 2013), its role in crime discovery and prevention in the business world (Lokanan, 2014;Samuel et al, 2013;Reddy and Sebastin, 2012;Clements and Shawver, 2011;Carnes and Gierlasinski, 2001;Dutta, 2013), its ability in restoring confidence and credibility in financial reporting activities and accordingly enhancing the effectiveness of corporate governance (Bhasin, 2013), higher education involvement through either offering degrees in forensic accounting (e.g., Caliyurt and Crowther, 2006;Welsh and Hannis, 2011;Seda and Kramer, 2009) or just some courses on forensic accounting (e.g., Rezaee and Burton, 1997), and its role in injecting more forensic skills in auditing through, for example, a merger of what could be regarded as common ground between auditing with forensic accounting (DiGabriele, 2009). …”

Section: Theme Of Forensic Accountingmentioning

confidence: 99%

The role of accounting literature and professional training in enhancing common life-based characteristics held by a forensic accountant (an empirical investigation)

Yaqoob

¹

,

Abdullah

²

2017

IJAF

0

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This study aims, through a questionnaire, at establishing the possible role of accounting literature and professional training in enhancing common life-based characteristics held by an accounting expert called upon to run forensic activities. The characteristics used in the questionnaire are held by all human beings with various degrees. The special case about Iraq is that there are no holders of certificates in forensic accounting. Thus, the study's main task is to check whether accounting literature and professional training are capable of enhancing certain characteristics held by an Iraqi forensic accountant. The responses of three samples (accountants, auditors and academics) are analysed through various statistical techniques at various levels which allow various comparisons and inferences. The single most important conclusion is that a crucial role can be attributed to professional training in enhancing common life-based characteristics compared to a weak role that can be attributed to accounting literature.

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“…There has been an increasing emphasis in the accounting literature on a justified growing demand for forensic accounting services (e.g., Carnes and Gierlasinski, 2001;Rasmussen and Leauannae, 2004;Heitger and Heitger, 2008;Seda and Kramer, 2009;Bressler, 2011;Stone and Miller, 2012;Huber, 2012Huber, , 2013Bhasin, 2013;Salleh and Ab Aziz, 2014). This emphasis is attributed to the importance of forensic accounting and based on many indications such as recognising it as a discipline (Mitric et al, 2012;Salleh and Ab Aziz, 2014) or a sub-discipline (Stone and Miller, 2012), giving it the status of a profession (Renzhoua, 2011;Huber, 2012;Dutta, 2013;Huber and DiGabriele, 2014), calls for regulating its activities (Huber, 2013), its role in crime discovery and prevention in the business world (Lokanan, 2014;Samuel et al, 2013;Reddy and Sebastin, 2012;Clements and Shawver, 2011;Carnes and Gierlasinski, 2001;Dutta, 2013), its ability in restoring confidence and credibility in financial reporting activities and accordingly enhancing the effectiveness of corporate governance (Bhasin, 2013), higher education involvement through either offering degrees in forensic accounting (e.g., Caliyurt and Crowther, 2006;Welsh and Hannis, 2011;Seda and Kramer, 2009) or just some courses on forensic accounting (e.g., Rezaee and Burton, 1997), and its role in injecting more forensic skills in auditing through, for example, a merger of what could be regarded as common ground between auditing with forensic accounting (DiGabriele, 2009). This growing emphasis on the demand for forensic accounting is accompanied by a growing academic interest in formulating, developing and crystallising various subject matters of forensic accounting.…”

Section: Theme Of Forensic Accountingmentioning

confidence: 99%

The role of accounting literature and professional training in enhancing common life-based characteristics held by a forensic accountant (an empirical investigation)

Yaqoob

¹

,

Al-Abdullah

²

2017

IJAF

0

View full text Add to dashboard Cite

This study aims, through a questionnaire, at establishing the possible role of accounting literature and professional training in enhancing common life-based characteristics held by an accounting expert called upon to run forensic activities. The characteristics used in the questionnaire are held by all human beings with various degrees. The special case about Iraq is that there are no holders of certificates in forensic accounting. Thus, the study's main task is to check whether accounting literature and professional training are capable of enhancing certain characteristics held by an Iraqi forensic accountant. The responses of three samples (accountants, auditors and academics) are analysed through various statistical techniques at various levels which allow various comparisons and inferences. The single most important conclusion is that a crucial role can be attributed to professional training in enhancing common life-based characteristics compared to a weak role that can be attributed to accounting literature.

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Should the Forensic Accounting Profession Be Regulated?

Cited by 5 publications

References 16 publications

Forensic accounting: a blend of knowledge

Forensic accounting: a blend of knowledge

The role of accounting literature and professional training in enhancing common life-based characteristics held by a forensic accountant (an empirical investigation)

The role of accounting literature and professional training in enhancing common life-based characteristics held by a forensic accountant (an empirical investigation)

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