The Characteristics of Forensic Audit and Differences in Relation to External Audit

Vukadinović, Predrag; Knežević, Goranka; Mizdraković, Vule

doi:10.15308/finiz-2015-202-205

Cited by 4 publications

(3 citation statements)

References 1 publication

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“…The study's results also support studies that found that forensic auditors are not only deeply involved in preventing, detecting or identifying fraud, but generally engage in a much wider variety of FRM engagements (Aiken, 2016;Walden, 2016;Knežević, 2015;Gillespie, 2014;Geldenhuys, 2016;Kapardis and Courakis, 2017). However, they contradict Okoye (2019) who argued that NGOs cannot copy and paste large for-profit entities and public sector entities' forensic investigation systems.…”

Section: Analysis Of Interview Datasupporting

confidence: 78%

Modelling Proactive Fraud Risk Management Practices in South Africa’s Non-governmental Organisations

Mvunabandi

2023

JAFEE

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Purpose: This article empirically investigated the relationship between forensic auditing techniques fraud risk management, focusing on financial statement fraud among non-government organisations (NGOs). It aimed to determine whether forensic auditors prevent, detect, investigate, and respond to the risk of financial statement fraud among these organisations. Design/Methodology/Approach: This study adopted used mixed research method. Data gathered through questionnaire and semi-structured interviews. SPSS was used descriptive statistics analysis. Robustness analysis was entirely performed using Analysis of Moment Structures for CFA were used to estimate statistical models while all the interview questions were analysed using conventional thematic analysis via NVivo 12. Findings: The study’s results and findings of both the questionnaire and interviews reflected statistically significant agreement that NGOs should use proactive forensic auditing techniques in order to respond to the risks of financial statement fraud among NGOs in the eThekwini region. Implications/Originality/Value: This study deepens understanding of forensic auditing as the main driver of fraud risk management among NGOs by providing field-based evidence. It also contributes to the application of critical realism, interpretivism and positivism to accounting and auditing research.

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Section: Analysis Of Interview Datasupporting

confidence: 78%

Modelling Proactive Fraud Risk Management Practices in South Africa’s Non-governmental Organisations

Mvunabandi

2023

JAFEE

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“…According to Silverstone, Sheetz, Pedneault, and Rudewicz (2012), forensic audit is a new specialized service in external audit of financial statements. Vukadinović, Knežević, and Mizdraković (2015) outlined some elements of differences between forensic audit and statutory audit. They include:…”

Section: Concept Of Forensic Auditmentioning

confidence: 99%

“…Statutory audit is professionally regulated by mandatory standards. Vukadinović et al (2015) has also noted that same standards in certain cases prevent external audit to gain its full potential. This is particularly true in the case of fraud detection.…”

Section: Audit Reportmentioning

confidence: 99%

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2015

JMAA

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University of Texas of the Permian Basin, Texas, USA When several scandals damaged the USA business environment, ethics education became a mandate for students in several states. Ethical theories were integrated into the business curriculum and the students are expected to apply these theories to the real world. The purpose of this research is to provide information related to the students' applications as they named their "most ethical" person and communicated the reasoning behind their selection.

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Does forensic audit influence fraud control? Evidence from Nigerian deposit money banks

Adesina

Erin

Ajetunmobi

et al. 2020

Banks and Bank Systems

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This study examines the importance of the application of forensic audit in controlling financial frauds that ravage or threaten the soundness and business continuity of Deposit Money Banks (DMBs) in Nigeria. The study used survey design methods, and the primary data were obtained through the administration of structured questionnaire covering seventeen (17) banks out of twenty-two (22) Deposit Money Banks (DMBs) operating in the country, which is 77.3%. In this study, the Ordinary Least Squares (OLS) method was used to analyze and test hypotheses, and the findings showed that the involvement of qualified and experienced forensic auditors would not only contribute to the amelioration of financial frauds in DMBs, but would also lead to much-needed sanity in the banking sector of Nigeria. The study recommends that regulatory agencies, within the limits prescribed by law, mandate all the banks to create a special forensic department, managed by a professional forensic auditor, which will develop and constantly implement effective and efficient internal control, timely prosecution of fraudsters by considering them to be criminals and as a deterrent to others, and work out adequate training and development programs for their staff, especially in fraud control, in order to reduce the number of fraud cases in Nigerian banks.

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The Characteristics of Forensic Audit and Differences in Relation to External Audit

Cited by 4 publications

References 1 publication

Modelling Proactive Fraud Risk Management Practices in South Africa’s Non-governmental Organisations

Modelling Proactive Fraud Risk Management Practices in South Africa’s Non-governmental Organisations

Untitled

Does forensic audit influence fraud control? Evidence from Nigerian deposit money banks

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