...Question One a) Yes, David conducted his investigation appropriately with the theft Act investigation by following the recommended procedures as follows. Step one: investigating the documents by searching personnel and company records. Step two: interviewing the neutral third party by visiting the former employees because they could be having some useful information for the case at hand. Step three: he engaged in corroborative evidence to try to support an already existing preposition supported by some initial evidence, therefore confirming the cases by employing some invigilating tactics method. Step four: Went ahead and interviewed core conspirators by digging details from several coworkers who at a point might be having some material information linking the flowchart of the investigation to the actual fraudster. Step five: finally David narrowed down to James Flemming as the sophisticated target because he had gathered enough evidence to support his allegation towards him. b) * To gather adequate incriminating evidences that will glue down the fraudster at the end of the investigation procedures. * To obtain a clear flow of events that could possibly lead to the occurrence of fraud in the organization. * To ensure no any facts is hidden that could be deemed relevant and material in the investigation process since if it could be worked outwards the actual fraudster could easily camouflage some evidences. * To establish the root cause...
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...A Project Report On “Forensic Accounting And Auditing” Submitted By Durvesh S. Naik Roll No: - 6025 MCOM PART-II (Advanced Accountancy) 2014-15 MULUND COLLEGE OF COMMERCE SAROJINI NAIDU ROAD, MULUND (W.) MUMBAI-80 SUBMITTED TO UNIVERSITY OF MUMBAI ACADEMIC YEAR 2014-15 DECLARATION I Durvesh Naik student of Mulund College of Commerce, S. N. Road, Mulund (W.) Mumbai – 80 of Mcom Part II (Advanced Accounting) Seat no: - 6025, hereby declare that I have completed the project on the title “Forensic Accounting and Auditing” during the academic year 2014-15. The information submitted is true and best of my knowledge and belief. Date of submission: - Signature Place:- Parle Tilak Vidyalaya Association's MULUND COLLEGE OF COMMERCE Sarojini Naidu Road, Mulund West, Mumbai 400080. Certificate This is to certify that Mr. __________________________________________________________ Of Mcom. Part II (Advanced Accountancy) Semester _______ has undertaken completed the project work titled _________________________ ______________________________ during the academic year __________ under the guidance of Prof. ______________________________________. Submitted on _________________ to this college on the fulfillment of the curriculum of Mcom (Advanced Accountancy) University of Mumbai. This is a bonafide project work & the information presented is true/ and original to the best of our knowledge...
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...site and explain how they can be used by a forensic accountant. Provide at least two specific examples to support your explanation The article, "Help for Solving CPAs' Ethical Dilemmas" discusses ethical issues in today's environment. Discuss how these tools could assist a forensic accountant in evaluating an ethical issue. week 2 Select another state and compare and contrast that state's definition of fraud with Arizona's definition. Is either definition more appropriate than the other? Why? Based on the information provided in the Association of Certified Fraud Examiners 2010 Report to the Nation on Occupational Fraud and Abuse, select one of the major categories of occupational fraud and discuss in detail how perpetrators are able to commit these types of frauds. week 3''' Select an example of an asset misappropriation case and discuss how a perpetrator would commit this type of fraud and what types of internal controls management could implement to help to prevent or detect this type of fraud. 2 Select an example of a corruption case and discuss how a perpetrator would commit this type of fraud and what types of internal controls management could implement to help to prevent or detect this type of fraud. week 4 Discuss the difference between direct evidence and circumstantial evidence and how each type of evidence can be used in a fraud investigation. Discuss...
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...Submission of Research paper as a part of curricular activity. Forensic Accounting: A new dynamic approach to investigate fraud. SUBMITTED BY: Aniket Desai (12BBL016) Alakananda Duggirala (12BBL016) Rut Shah (12BBL051) SUBMITTED TO: Dr. Pranav Saraswat For the academic session July to December 2014 1 PREFACE This research project is carried out as a part of curricular activity for the course of Financial Audit, in semester V for the programme B.com LLB (Hons.). We have tried our best to do justice with the project and put it in black and white the research we've done in the last three months. Regards, Aniket Desai Alakananda Duggirala Rut Shah Date: 2th November, 2014 _______________________________ Signature of the researchers. 2 ACKNOWLEDGEMENT We owe a debt of gratitude to Dr (Mr.) Pranav Saraswat, the faculty for the course of Financial Audit, for his constant guidance and support which helped us to conceive this research project. It is also my duty to record my thankfulness to Dr. Atul Bhatt, the librarian of the Institute of law, Nirma University for keeping handy useful resources which helped me collect information and datas which was very important for my doctrinal research work. Finally, I would like to take this opportunity to thank my friends and colleagues for the support whenever required. Regards, Aniket Desai Alakananda Duggirala Rut Shah 3 DECLARATION We hereby declare that this piece of written work...
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...Running head: Forensic accountant 1 Forensic Accountant Tanya Pace Dr. Gina Zaffino Bus 508, Contemporary Business 11/16/2012 Running head: Forensic Accountant 2 Determine the most important five (5) skills that a forensic accountant needs to possess and evaluate the need for each skill. Be sure to include discussion regarding the relationship between the skill and its application to business operations. Although forensic accounting is not a new field, it has become more talked about since cases like Enron came to light. For someone interested in the Forensic Accountant profession they should know that this field can be time consuming, but very rewarding. People who work in this career investigate white collar crimes such as company fraud, fraudulent financial record reporting, and illegal investment schemes. In a recent study by the Federal Bureau of Investigation shows that white collar crimes have cost the United States and estimated 300 billion dollars (DiGabriele 2008). I think five of the skills that a forensic account would need are communication skills, detail oriented, professional and ethical behavior, sound judgment and discretion. Communication skills are vital in any profession. It allows you to convey information for others to receive. The problem with communication is that it can be interpreted differently by other intended parties. As a forensic accountant, communication skills, verbal and non verbal, are important...
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...Culture-Specific Forensic Accounting Conceptual Framework: A skills Set Theoretical Analysis Abstract : Forensic accounting, given its peculiar investigative stance, requires a specific skills set on the part of the forensic accountant, that integrates accounting, auditing and investigative skills. The Jordanian Anti-Corruption Commission’s (JACC) struggle to investigate Maward’s, a Jordanian state-own company, suspected corruption has raised serious concerns regarding the weak state of forensic accounting in Jordan, and the need for its adaptation to suit the country’s peculiar context, to successfully institutionalize at the wider societal level and benefit the state in its aim for ensuring efficient utilization of the scarce resources at its disposal. This study is an attempt to deduce a country-specific conceptual framework for forensic accounting, which can be replicated, with suitable adaptations, to other countries with similar cultural backgrounds, and put forth some theory-supported suggestions to help guide future research in the area. Keywords: forensic accounting, conceptual framework, institutional theory, foucault Introduction: The rise in the white collar crimes, where evidences are comparatively moreobscure and difficult to detect (Gottschalk, 2011), has necessitated equipping of auditors with forensic skills, particularly over the recent years (DiGabriele, 2009a; Carnes & Gierlasinski, 2001). In the aftermath of several accounting scandals such...
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...Forensic Accounting Name: Institution: Forensic accounting, also referred to as investigative accounting involves in the utilization of accounting concepts as well as techniques in solving legal problems. It is the work of forensic accountants to investigate and document fraud (financial) as well as white collar crimes like embezzlement. They also assist attorneys in litigation support and law enforcement agents in investigating and solving financial inconsistencies (Silverstone, 2012). Corporations and Legal firms consult forensic accountants to aid in allegations of fraud. It is therefore important for forensic consultants to be very good at their work considering their clients. To be an excellent forensic attorney one needs to possess certain skills. Important Skills that a Forensic Accountant needs to possess: Firstly, a good forensic accountant must be competent in accounting. One must initially be a certified public accountant before considering working a career in forensic accounting. This is because one need to be familiar with basic as well as complex accounting in order to perform the necessary tasks that forensic accountants are contracted to do. CPAs are evaluated by the Certified Financial Forensics (CFFs) credential which is exclusively issued to CPAs who demonstrate expert ability in forensic accounting through their education, experience and skills (Singleton, 2010). ...
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...learning knowledge in a discussion topic of defining forensic accounting; I will be sharing with you my life knowledge in key specific areas within the fraud examination. I will also discuss my views of what is forensic accounting and its importance of this field. In addition; I will be delving in my definition of the fraud triangle and how I would utilize it in today cases. Going forward, I will explain the importance of the fraud triangle in fraud examination cases as well as I will give an explanation on my belief of how the fraud examination has an inevitable part today and along with how it works at the same point in time. I will finalize this discussion with the requirements needed to become a forensic accountant in the present state of Florida that I reside in. Definition of Forensic Accounting Forensic, a word that ignites the search for clues to find the perpetrator 's intent and truth in a criminal case. In the topic of forensic accounting, it brought to my attention of a T.V. show that I have recently watched a few nights ago. The show was called Forensic Files on the HLN network. The particular case was about on how investigators of a police department were working on a murder case. They were working with different specialized groups of examiners, doctors and specialists to help solve how the death of a man occurred. During the investigation, a key item was discovered that gave the factual time...
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...Sometimes marketers and other salespeople will try to take advantage of you by giving you a false set of choices. A car salesman may show you a $50k car and then show you a $35k car and claim it to be a good value relative to the first car. But he did not show you the first car to give you “more alternatives.” He showed it to you to warp your perception of “good value.” It is a best practice to identify at least three alternative solutions that will meet the requirements to solve the problem. Requiring a minimum of three alternative solutions forces the integrated project team to identify solutions that may not be obvious. It helps to prevent automatically adopting a "pre-selected" solution because of the prevailing biases. A meaningful investigation of alternative solutions will often identify a solution that produces substantially superior results compared to what initially appeared to be the obvious solution. Individuals who have a pre-existing strong bias toward a specific solution are often not aware of other potential solutions, especially...
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...“Forensic Accounting” is a term that you do not hear every day so let’s examine its definition. The Strayer University BUS508 textbook defines accounting as, “The process of measuring, interpreting, and communicating financial information to enable people inside and outside the firm to make informed decisions.” Merriam-Webster defines forensic as, “suitable for a court of law.” Our textbook defines forensic accounting as, “Forensic accounting is accounting performed in preparation for legal review.” The textbook also describes it as, "focus on uncovering potential fraud in a variety of organizations.” The Business Dictionary defines it as a, “Criminal investigation practice whereby investigators analyze financial documents and activities to determine if and how a crime, such as fraud, has been committed by an organization. Tactics include tax analysis, financial reporting review and banking activity oversight.” This also includes white collar crimes such as embezzlement, stock market manipulation and price fixing schemes. This can include the financial impact of marketplace events, such as intellectual property infringement, anti-trust actions, financial reporting fraud, asset impairment and business valuation (Neumann, O'Connor, 2008). It also includes matters of family law, such as matrimonial disputes. In short, "Forensic accounting is the use of accounting, auditing, and investigative skills to assist in legal matters.” They use accounting skills following the GAAP (generally...
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...Submit a 3 page paper that 1) explains the difference between litigating an embezzlement case in civil court and criminal court, and 2) discuss the role of an expert witness/fraud examiner in each proceeding. There are two major factions of the United States court system: civil cases and criminal cases. Both take place in courtrooms all across the country, but there are several differences that separate the two as well as the role of fraud examiner in each proceeding. The major difference of the two in an embezzlement case is: 1) In a criminal court case, the opposing parties are the prosecutor, often the Assistant District Attorney, and the defendant, represented by a trial lawyer. In a civil court case, however, the opposing parties are the plaintiff and the defendant, both of whom are typically represented by attorneys. 2) In a criminal court case, the prosecutor must establish the guilt of the defendant, but in a civil court case, the plaintiff must only establish the liability of the defendant. In the former, the defendant is either guilty or not guilty of a crime, while in the latter, the defendant is either liable or not liable for monetary damages suffered by the plaintiff. For example, in a criminal court case, the defendant can be found guilty of money laundry his money, while in a civil court case, the defendant can be found liable for stealing someone’s car. In civil court cases, the plaintiff must only win by a preponderance of evidence, which means that the defendant...
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...+ - ACC 556 – Forensic Accounting Week Four Team C Reflections Week five material focused on the impact accounting principles have on detecting fraud as well as the financial statement fraud schemes that have been committed in recent years. Helen found course materials and discussion on financial statement fraud gave me a pause. I was aware of the fact that it is possible to manipulate financial results and make operations appear successful to lenders and investors, while quite the opposite may just as well be true, but I did not realize how wide spread is the problem (746 cases being investigated by FBI as we speak which means there are a lot more out there yet to be uncovered or will never be uncovered or prosecuted). Stories of companies overstating revenues by millions and billions of dollars seem to be common nowadays. I would think that if not for SEC oversight, even more companies would commit financial statement fraud. If I were an investor or a lender I would certainly want to study financials and accompanying notes and disclosures to financial statements of the company I am considering to invest in, I would compare their ratios between fiscal years (especially changes in days in accounts payable and receivables, changes in inventory versus sales, changes in reserves for doubtful accounts and obsolete inventory), I would also compare their performance with other companies in their field. Any sudden growth or performance that meets analyst’s forecasts is now would...
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...Computer Forensics Through the Years Prof. Pepin Galarga Computer Forensics Sep 11, 2010 Table of Content Introduction …………………………………………………………………………………Page 2 The Early Years……………………………………………………………….......................Page 3 Early Training Programs …………………………………………………………………....Page 4 Typical Aspects of Computer Forensic Investigations ……………………………………..Page 5 Legal Aspects of Computer Forensics …………………………………………..……...…..Page 6 Conclusion ………………………………………………………………………………….Page 7 References………………………………………………………………………………..…Page 8 Introduction If you manage or administer information systems and networks, you should understand computer forensics. Forensics is the process of using scientific knowledge for collecting, analyzing, and presenting evidence to the courts. (The word forensics means “to bring to the court.”) Forensics deals primarily with the recovery and analysis of latent evidence. Latent evidence can take many forms, from fingerprints left on a window to DNA evidence recovered from blood stains to the files on a hard drive. Because computer forensics is a new discipline, there is little standardization and consistency across the courts and industry. As a result, it is not yet recognized as a formal “scientific” discipline. Image by Flickr.com, courtesy of Steve Jurvetson Computer forensics is the study of extracting, analyzing and documenting evidence from a computer system or network. It is often used by law enforcement officials to seek...
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...The Language and Culture of the Accountant, Auditor and Forensic Accountant Jerry Brockman Davenport University Abstract The overall purpose of this Professional Language and Culture report is to detail the accountant’s communication style and culture, as well as, their specialized language. The report begins with a brief discussion of the origin of accounting, as well as, the distinction between bookkeeping and accounting. Additionally, an examination of the Financial Accounting Standards Board (FASB) provides insight into the culture, ethical values and professional standards of accountants. Other areas of discussion in this report are the voice and tone used in various forms of communication by the accountant. Also, included in this report is an excerpt from an interview of an accounting professional as well as an example from a journal article. These artifacts will provide the reader with examples of the mind-set and communication style of the accountant. Finally, this report concludes with an examination of the auditor’s as well as the forensic accountant’s culture and communication style. Table of Contents Contents Abstract 2 Table of Contents 3 Accounting has been around for centuries.. 4 Professional Standards and Ethics 4 Culture of Professional Standards 5 Language of Business 6 Voice and Tone 6 Specialized Areas of Accounting 7 Communication 8 Forensic Accounting 8 Communication 9 Conclusion 9 References 11 Appendix A 13 Appendix...
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...Forensic Accountants: Fraud Busters Strayer University Business 508 August 11, 2013 Abstract The paper will determine the five important skills a forensic accountant must possess and describe their role within a courtroom environment. It will also analyze the legal responsibility of the accountant while serving its clients business. Giving two examples where a forensic accountant played an important role in aiding attorneys in presenting fraudulent bookkeeping records of company’s who ultimately committed white-collar crimes. Have you ever heard the figure of speech a “needle in a haystack” when referring to finding a small object in a large setting? The task of performing a very detailed search seems impossible. Leaving no stone unturned and demanding hours and hours of mental and manual labor. This is what a forensic accountant faces. By definition, a forensic investigation of any kind is conducted with the purpose of obtaining evidence that will be used in a court case. Forensic accounting is simply the analysis of financial documents use as tax returns, bank statements, canceled checks and the like, in search of proof of a criminal act, be it tax evasion, running numbers, embezzlement, money laundering, fraud by wire or securities fraud (DiGabriele, 2009). These crimes exists for the sole purpose of illegally making money. Leaving a paper trail pointing to criminal activity producing money coming into and leaving the organization...
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