Forensic Accounting Course Research Articles

A Case for Incorporating Forensic Accounting Courses in Undergraduate Accounting Programs

A Case for Incorporating Forensic Accounting Courses in Undergraduate Accounting Programs

ASSESSMENT OF ACTIVITIES OF TAX PRACTITIONERS, FORENSIC ACCOUNTANTS AND ECONOMIC AND FINANCIAL CRIMES COMMISSION AT CURBING CORRUPTION IN OSUN STATE, NIGERIA

This study sought to assess the activities of Tax Practitioners, Forensic Accountants and Economic and Financial Crimes Commission at curbing corruption in Osun State Nigeria. Survey research design was adopted. The population of this study consists of two hundred (200) members of staff (management, senior and junior) of the Office of the Accountant General, Osun State Ministry of Finance, Osun State Internal Revenue Service and other relevant Agencies in Osun State. Stratified and simple random sampling methods were adopted while Taro Yamane was used to determine the sample size of 133 and out this, one hundred and twenty-five (125) respondents filled and returned the questionnaire. Primary data were gathered via administration of questionnaire to respondents. Both descriptive and Correlation analysis were presented in the study. The findings revealed that there is a positive relationship between the activities of Forensic Accountants and activities of Tax Practitioners at curbing corruption in Osun State. It was also found out that proper financial management will help to reduce financial crime rate in Osun State, Nigeria. The study came to the conclusion that the abilities of accountants and the work of tax practitioners significantly contribute to identifying and minimizing fraud in Osun State, Nigeria. Finally, the study made the suggestion that forensic accounting courses be offered in Nigerian universities in order to improve the caliber of accounting graduates from these institutions, among other things.

Accounting undergraduates’ perspectives on integrating forensic accounting into the curriculum in Sri Lanka

Purpose: This study examines the current level of forensic accounting education in Sri Lanka and its level of sufficiency from the viewpoint of accounting undergraduates studying in Sri Lankan government universities. Research methodology: Data were collected through a self-administered questionnaire targeting third and fourth-year accounting undergraduates of Sri Lankan government universities. To achieve the research objectives, descriptive statistics were used as analytical tools. Results: The study revealed that existing auditing course modules and stand-alone forensic accounting course units do not adequately cover forensic accounting topics in response to the rising demand for forensic accountants' services in Sri Lanka. Sri Lankan government universities are required to restructure the integration of forensic accounting education with greater coverage. Moreover, as per accounting undergraduates, the precise method of covering forensic accounting within accounting education would be to introduce a separate degree program that covers all forensic accounting discussions. Limitations: The main limitation of this study is that it focuses only on the perspectives of government university undergraduates. Perceptions of accounting undergraduates in private universities and professional qualification institutions that offer accounting degree programs were not considered. Contribution: This study provides insights for university administrators on how to integrate forensic accounting into the accounting curriculum. Moreover, the suggested modifications will provide undergraduates with the skills required to practice forensic accounting after graduation.

Insights from forensic accounting educators and practitioners within the KSA context regarding the optimal forensic accounting skills set: an implication on the socioeconomic development

PurposeThe purpose of this study is to evaluate the current state of forensic accounting education in the Kingdom of Saudi Arabia (KSA), as well as to identify the desired aims and skills required to practice forensic accounting as a profession. It also seeks to understand the education and skills provided by KSA forensic accounting education programs, the job skills required by professional accountants and the skills required by professional accountants' employers.Design/methodology/approachThe study is exploratory in nature. A convenience base sampling approach was used to select the academicians and practitioners working in KSA. Participants were requested to fill out an electronic questionnaire and rank each statement on a 5-point Likert score. The responses were converted and analyzed using the T-test, to evaluate the inter- and intra-group trends in the data.FindingsThe study included 58 responses from practitioners and 30 from academicians. Both groups mentioned that the classroom and the Internet were their primary source of forensic accounting information, especially in professional accounting qualifications. According to the participants, most of the institutions in KSA do not offer forensic accounting courses. Nonetheless, forensic accounting is critical for strengthening the credibility of financial reporting in courtrooms. The study finds subtle inter-group differences regarding the development of an ideal curriculum for forensic accounting, which translates to a bigger difference in curriculum development and practice skills. Both groups were optimistic about the future path of forensic accounting in KSA.Originality/valueThe study reports critical differences between the status of forensic accounting education and the skills required to practice forensic accountancy in KSA.

Developing learning objectives for forensic accounting using bloom’s taxonomy

ABSTRACT This paper aims to identify and explore the learning objectives outlining the core knowledge for forensic accounting education. Bloom’s taxonomy is used to outline and analyze the core knowledge for forensic accounting education (e.g. fraud examination, litigation support, business valuation, and IT forensic accounting) in 15 Australian universities that provide forensic accounting courses. Furthermore, this paper applies a qualitative method to forensic accounting curricula, handbooks, and syllabi. These educational documents were retrieved from Australian universities. The findings report learning objectives under core content knowledge distributed over Bloom’s cognitive areas. This study also provides a unified set of learning objectives to harmonize forensic accounting courses’ teaching and learning processes. The most promising contribution of the paper is to provide a set of learning objectives in all forensic accounting subtopics. The main implications of this paper are relevant to forensic accounting educators, students, standard setters, researchers, regulators, and curricula designers.

Who Is Interested in Forensic Accounting?

In this research study, I seek to better understand the profile of a student who will find forensic accounting interesting. Demand for forensic accountants is growing and will only continue to increase over the next decade and the supply of properly prepared students for the career is low. This is largely due to few universities offering even a single course focused on forensic accounting. Perhaps, the lack of forensic accounting courses and concentrations within accounting curriculum is because there is not enough information and understanding surrounding the students this career will attract. In this study, I surveyed college aged students to uncover what personal interests, backgrounds, and educational experiences correlate with an interest in forensic accounting. Ultimately, what was revealed is that forensic accounting is incredibly interesting to students regardless of major or interest in accounting in general. Students desire more coursework in this field and the results provide exciting and positive news for the future of forensic accounting.

FORENSIC ACCOUNTING IN INDIA: AN EXPLORATION OF EDUCATION, PRACTICE, AND CAREER OPPORTUNITIES

Forensic accounting gained popularity in India following the Enron, Rajat Gupta, and Satyam cases. Few chartered accounting firms specialize in fraud investigation as a practice area. The big four consulting firms Deloitte, KPMG, PricewaterhouseCoopers, and Ernst & Young control a large portion of this industry. Forensic accounting should be included in the curriculum at undergraduate and postgraduate levels across the country. This will help corporations and governments keep a lid on crime at the outset, writes Shashank Joshi. Forensic accounting is an area where forensic accountant examines financial information to detect and investigate financial fraud. ICAI has incorporated a Certified Course on Forensic Accounting and Fraud Detection for practicing CAs. 40% of the top American accounting firms are expanding their offerings to include fraud and forensics. Many accountants in India lack the expertise and knowledge required to conduct forensic accounting or fraud detection effectively. This course is crucial in India because it ensures that accountants can provide reliable testimony in court and during criminal investigations. Through this course, accountants in India can learn how to apply their accounting, auditing, and investigation skills to spot financial irregularities and gain a thorough understanding of the idea of forensic accounting. CFAPs are qualified individuals with the knowledge to look into cases of fraud, money laundering, and other financial crimes. The primary goal of CFAPs is to close the communication gap between financial data and legal proceedings. They do this by utilizing the most recent tools and technologies. A forensic accounting course may be included as a separate subject in the university curriculum.

Poirot, Pacioli, and Pedagogy: Using Accounting History to Build an Introductory Forensic Accounting Course

ABSTRACTPraeterita praecipiunt. “The past teaches.” Forensic accounting is a specialization that is projected to grow rapidly, and courses for which are in great demand. While accounting faculty are familiar with cases that could be used to illustrate instances of and investigations into financial statement fraud, the full scope of forensic accounting includes consideration of other crimes and misdeeds. Hence, this article suggests an approach by which students can be introduced to forensic accounting areas such as occupational fraud, corruption, cybercrime, money laundering, the Fraud Triangle, whistle-blowing, and giving testimony, by providing a list of historical cases and resources in various media for the forensic accounting course instructor's use.

PERSEPSI MAHASISWA AKUNTANSI TERHADAP PENERAPAN MATA KULIAH AKUNTANSI FORENSIK DALAM KURIKULUM JURUSAN AKUNTANSI DI UNIVERSITAS (STUDI KASUS PADA UNIVERSITAS 17 AGUSTUS 1945 SURABAYA)

This research aims to analyze the perception of accounting students towards forensic accounting courses in the curriculum of the accounting major at the University. Entering forensic accounting courses in accounting departments is the answer to the development of the forensic accountant profession in several Government and KAP agencies that require quality labor produced by universities to produce graduates who are ready to enter the workforce. The object of research is a student in the accounting department. This research is an empirical study of purposive sampling methods in data collection. The data was obtained by distributing questionnaires of 100 pure students and students of workers in the accounting department who had taken forensic accounting courses at the University of August 17, 1945 Surabaya. Data analysis conducted with pls program version 2.0 research results obtained the influence of perception of students majoring in accounting University August 17, 1945 by 90% on forensic accounting courses in the curriculum at the college is very close. The results of hypothesis testing showed that all independent variables had a positive influence on forensic accounting courses

Forensic Accounting Education in India: An Insight

“Forensic Accounting is a new facet in the domain of accounting and auditing which is speciality area where the forensic accountant examines the financial information in order to detect and investigate financial fraud. With surge in financial crimes, forensic accounting education is the imperative need which would groom and train students and professional in a way that are equipped to identify and examine occupational fraud. This article examines the present state of forensic accounting education availability and courses in Indian education system. This research is beneficial in acquiring a thorough understanding of the forensic accounting courses offered at the graduation, post graduation and professional stages, particularly in finance and accounts field. Developing and expanding forensic accounting educational program has created lots of interest all over the world thus the finding will provide an insight into the present opportunities for forensic accounting education in India.”

The Relevance of Forensic Accounting for Detecting and Preventing Fraud in Emerging Economy like Nigeria

The study investigated the relevance of forensic accounting for detecting and preventing fraud in emerging economy like Nigeria. This study is an ex-post facto and field survey type of research. The population size of this study cuts across the 12 money deposit banks in Nigeria. Emphasis was centered on professional chartered accountants and auditors in those banks in Edo State due to geographical coverage. It is upon the population size of 12 money deposit banks in Nigeria a consensus of all the banks forms the sample size of the study. While a judgmental sampling method was used in the selection of the professional accountants and auditors in banks. The research instrument that was employed in this study was questionnaire and interview. In addition, to ensure the reliability of the questionnaire used, a pre-test was carried out using the Cronbach-Alpha test. The statistical tool employed was descriptive statistics. The findings of the study revealed that forensic accounting qualifications, forensic accounting skills and forensic accounting education has positive influence in detecting economic and financial crime in Nigeria. Therefore, the study recommends that the relevance of forensic accounting in preventing and detecting fraud should be used in Nigeria to strengthen internal audit department. Also, forensic accounting courses should be included in the academic and professional curricula of Nigeria Universities and professional institutions to train and increase the awareness of forensic accounting in Nigeria.

Social Trust, Market Competition, and Tax Avoidance: Evidence from Contemporary China

ABSTRACTFirms pay their fair share of taxes because they want to be perceived as good corporate citizens. However, managers might engage in tax-avoiding activities if such activities are value-maximizing. Using firms in China, this study investigates the relation between social trust and corporate practice of tax avoidance. Results show that firms located in provinces with higher social trust levels engage less in tax-avoiding activities, and the negative relation between social trust and tax avoidance is more pronounced for firms in industries that are less competitive. Since corporate tax avoidance leads to significant loss of tax revenues, tax authorities in China should engage the services of forensic accountants to identify those corporations that practice aggressive tax avoidance. Furthermore, China needs to provide more forensic accounting training for accountants and auditors. Educational institutions need to offer more forensic accounting courses in order to fill the gap between forensic accounting practices and education.

Sir Allen Stanford: inmate # 35017-183; a case study of a Ponzi scheme and its aftermath

Research methodology This case involves a real-life Ponzi scheme perpetrated by Sir Allen Stanford, a man who bribed Antiguan regulators and a certified public accountant firm to perpetuate his scam. The case includes the process of making victims whole, which involves a court-initiated clawback process: taking back payouts to investors or charities to redistribute the funds to other fraud victims who did not receive their fair payout. Students apply theory learned in an upper-level fraud or forensic accounting course. Finally, the case addresses the aftermath of a fraud scheme. Case overview/synopsis Ponzi schemes – one of the most common types of investment fraud – have caused investors to lose billions of dollars. Because of the prevalence of Ponzi schemes and the ramifications to investors, it is important for business students to understand the nature of these schemes and to learn how to recognize them. As future business professionals, students will be charged with recognizing a Ponzi scheme early and uncovering it before investors lose their investments. Complexity academic level This case is designed for upper-level undergraduate students or graduate students taking a fraud or forensic accounting course, which is best introduced after professors cover Ponzi schemes and also these concepts: fraud triangle, fraud diamond and fraud red flags.

Combating Financial Crimes Through Forensic Accounting in Nigerian Public Sector

Financial crimes are a global issue which remains unresolved. These crimes have plagued every corner of the world economy. The adverse effect of these crimes is immense in Nigeria. Continuous research confirmed a strong demand for the forensic accounting of preventing, detecting and arresting of financial crimes menace in Nigeria and the rest of the world. However, the studies of combating financial crimes through forensic accounting are very few in literature and not fully explored in Nigerian public sector. This study therefore, sets to examine the impact of forensic accounting techniques for combating financial crimes in Nigerian public sector. This study employs a survey research design and purposive sampling technique to select the sample of eighty six (86) accountants and auditors of the three selected ministries in Osun State, Nigeria. Both primary and secondary data were collected. The primary data was collected through a designed structured questionnaire. The data collected was analyzed using descriptive and inferential statistical tools. It was found that combating of financial crimes in Nigerian public sector through the application of forensic accounting is possible as the. p–value = 0.00 < 0.01. This study therefore concluded that, government of Nigeria should increase the interest in and facilitate the growth of forensic accounting by giving legal backing for proper monitory and investigation of alleged cases of financial crimes . This study recommended that, all government ministries, agencies and parastatals should establish forensic accounting unit to help strengthen internal controls and ensure thorough investigation in order to prevent, deter and detect financial crimes and the University regulatory body as well as the accounting professional bodies should ensure that forensic accounting courses are included in the curricula to ensure the training and increased awareness of forensic accounting in Nigeria. Keywords: Forensic Accounting, Financial Crimes, Nigerian Public Sector. DOI: 10.7176/RJFA/11-11-05 Publication date: June 30th 2020

Combating financial crimes through forensic accounting in Nigerian public sector

Financial crimes are a global issue which remains unresolved. These crimes have plagued every corner of the world economy. The adverse effect of these crimes is immense in Nigeria. Continuous research confirmed a strong demand for the forensic accounting of preventing, detecting and arresting of financial crimes menace in Nigeria and the rest of the world. However, the studies of combating financial crimes through forensic accounting are very few in literature and not fully explored in Nigerian public sector. This study therefore, sets to examine the impact of forensic accounting techniques for combating financial crimes in Nigerian public sector. This study employs a survey research design and purposive sampling technique to select the sample of eighty six (86) accountants and auditors of the three selected ministries in Osun State, Nigeria. Both primary and secondary data were collected. The primary data was collected through a designed structured questionnaire. The data collected was analyzed using descriptive and inferential statistical tools. It was found that combating of financial crimes in Nigerian public sector through the application of forensic accounting is possible as the. p–value = 0.00 < 0.01. This study therefore concluded that, government of Nigeria should increase the interest in and facilitate the growth of forensic accounting by giving legal backing for proper monitory and investigation of alleged cases of financial crimes . This study recommended that, all government ministries, agencies and parastatals should establish forensic accounting unit to help strengthen internal controls and ensure thorough investigation in order to prevent, deter and detect financial crimes and the University regulatory body as well as the accounting professional bodies should ensure that forensic accounting courses are included in the curricula to ensure the training and increased awareness of forensic accounting in Nigeria. Keywords: Forensic Accounting, Financial Crimes, Nigerian Public Sector. DOI: 10.7176/RJFA/11-11-05 Publication date: June 30th 2020

Forensic Accountant Skills: An Empirical Investigation in the Malaysian Forensic Accounting Education Curriculum.

Existing forensic accounting graduates in developing countries that practice the current forensic accounting curriculum showed lack of knowledge, skills and abilities in fraud detection and prevention as compared to graduates in developed countries. The Accounting curricular should provide students with the basic theoretical framework for understanding Audit Investigation, Fraud Examination and Forensic Accounting and, simultaneously, provide students with knowledge and techniques. Currently, Universities do not include suitable syllabus that meet the requirement of forensic accounting firms. Therefore, matching expectations of employers and suitable curricular content for the development of forensic accountant knowledge and skills are crucial. Thus, coverage of forensic accounting syllabus and the quality of forensic accountant practitioner becomes an issue. The objective of this study is to investigate the relationship between forensic accounting course and forensic accountant skills. A total of 96 individuals completed the questionnaire that was used for the analysis adapted mainly from the course outcome of Forensic Accounting and Financial Criminology Master’s degree programme in one of the public universities in Malaysia. The result of this study indicated that auditing courses have no significant relationship towards forensic accountant skills despite having positive relationship, whilst fraud examination courses and forensic accounting courses have significant positive relationship towards forensic accountant skills. The results of this study should aid in setting the future direction and the role of forensic accounting practices and education. Forensic accounting education plays a vital role in preparing forensic accountant for the working world.

Case-Based Learning in Forensic Accounting Education

This study aims to examine the influence of the case based learning method application and motivation toward understanding of forensic accounting with emotional intelligence as moderator. The population of this research is the undergraduate students of accounting department who have taken forensic accounting course at Warmadewa University. Sampling technique in this research is purposive sampling with certain criteria such the student who have taken forensic accounting course. The research design is survey research design by distributing questionnaires to respondents. Data analysis uses a moderated regression analysis (MRA). The results of this research shows that the application of case-based learning method and motivation have a significant positive effect on forensic accounting comprehension, and it is proved that emotional intelligence is able to moderate the influence of application of case based learning method and motivation toward the understanding of forensic accounting

Forensic Accountant Skills: An Empirical Investigation in the Malaysian Forensic Accounting Education Curriculum

Existing forensic accounting graduates in developing countries that practice the current forensic accounting curriculum showed lack of knowledge, skills and abilities in fraud detection and prevention as compared to graduates in developed countries. The Accounting curricular should provide students with the basic theoretical framework for understanding Audit Investigation, Fraud Examination and Forensic Accounting and, simultaneously, provide students with knowledge and techniques. Currently, Universities do not include suitable syllabus that meet the requirement of forensic accounting firms. Therefore, matching expectations of employers and suitable curricular content for the development of forensic accountant knowledge and skills are crucial. Thus, coverage of forensic accounting syllabus and the quality of forensic accountant practitioner becomes an issue. The objective of this study is to investigate the relationship between forensic accounting course and forensic accountant skills. A total of 96 individuals completed the questionnaire that was used for the analysis adapted mainly from the course outcome of Forensic Accounting and Financial Criminology Master’s degree programme in one of the public universities in Malaysia. The result of this study indicated that auditing courses have no significant relationship towards forensic accountant skills despite having positive relationship, whilst fraud examination courses and forensic accounting courses have significant positive relationship towards forensic accountant skills. The results of this study should aid in setting the future direction and the role of forensic accounting practices and education. Forensic accounting education plays a vital role in preparing forensic accountant for the working world.

Embezzlement at the Grandview Community Recreation Association

ABSTRACT This case is based on actual fraud at a not-for-profit organization. In this case, students assume the role of a volunteer forensic investigator who assists the local police department to investigate the possible embezzlement case for a recreation association. Students learn about the activities and the people who are involved with the association. Through the examination of various documents, they identify any discrepancies between the association's accounting records and bank statements. Students apply the fraud triangle to gain a perspective on the possible motivation, opportunity, and rationalization of the likely perpetrator. Students become familiar with the concept of embezzlement and larceny, and recommend fraud prevention practices for the association. After completing this case, students are more aware of why and how small not-for-profit organizations are more susceptible to fraud than are other organizations. This case is appropriate for use in a forensic accounting course or an advanced auditing course.

Forensic Accounting and the Combating of Economic and Financial Crimes in Ghana

Economic and financial crimes have plagued every corner of the economies of the world. These crimes affect all firms and the economies of nations (developed, developing and under-developed). Continuous research confirmed a strong demand for the need of the prevention and detection of these crimes by institutions and nations. However, economic and financial crimes are difficult to detect and most of those detected are not reported for the fear of bad publicity and loss of investor confidence. Forensic accountants are perceived to have the training and skills needed to combat economic and financial crimes. Therefore, the research examined the relevance of forensic accounting technique application in the combating of these crimes in Ghana. The research employed survey research design by sampling all the technical officers (66) of Economic and Organized Crime Office of Ghana and data was analyzed through a regression model. It was found that, the application of forensic accounting technique has significant impact on the combating of economic and financial crimes in Ghana. Therefore, all institutions (anti-corruption agencies and companies) should establish forensic accounting unit to help strengthen internal controls and ensure thorough investigation in order to prevent, deter and detect financial and economic crimes. Moreover, Institute of Chartered Accountants-Ghana and National Accreditation Board of Ghana should ensure that forensic accounting courses are included in the academic and professional curricula of Ghana Universities and professional institutions to ensure the training and increase the awareness of forensic accounting in Ghana.