Forensic Accounting and Fraud Examination

Start Date: 07/05/2020

Course Type: Common Course

Course Link:

About Course

Everyday across the world, thousands of businesses are victimized by fraud. Who commits these bad acts? Why? And, how? In this course we are going to help you answer the questions: who commits fraud, why and how. We’ll also help you develop skills for catching them.

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Course Introduction

Forensic Accounting and Fraud Examination In this course you will learn what is meant by forensic accounting. You will learn about the concept of reliability and the legal definition of fraud. You will learn how to use evidence in a case. You will also learn about the various forensic disciplines including DNA analysis, blood analysis, witness identification, and other methods of evidence. You will use these methods in order to construct a convincing case for the prosecution. You will also learn about the common defenses available to you.A. Basics of Accrual Accounting B. Accounting for Assets C. Accounting for Liabilities D. Accounting for Assets both As Assigned and As Disputed Forensic Accounting: The Business and Professions Implication This course investigates the implications of the business and academic disciplines on forensic accounting and fraud examination. We will present evidence from a variety of forensic disciplines, including DNA analysis, blood analysis, eyewitness testimony, and other methods of evidence. You will use these methods in order to construct a convincing case for the prosecution. We will also present the legal and ethical considerations that can arise from the examination of the professional competencies of professional exam takers. Upon successful completion of this course, you will be able to: 1. Establish a base from which to analyze and assess a fraud or corruption case. 2. Identify relevant issues and concerns that

Course Tag

Fraud Detection Internal Control Fraud Investigation Forensic Accounting

Related Wiki Topic

Article Example
Forensic accounting Forensic accountants, investigative accountants or expert accountants may be involved in recovering proceeds of crime and in relation to confiscation proceedings concerning actual or assumed proceeds of crime or money laundering. In the United Kingdom, relevant legislation is contained in the Proceeds of Crime Act 2002. Forensic accountants typically hold the following qualifications; Certified Forensic Accounting Professional [Certified Forensic Auditors] (CFA - England & Wales) granted by the Forensic Auditors Certification Board of England and Wales (FACB), Certified Fraud Examiners (CFE - US / International),Certificate Course on Forensic Accounting and Fraud Detection (FAFD) by Institute of Chartered Accountants of India (ICAI), Certified Public Accountants (CPA - US) with AICPA's [Certified in Financial Forensics est. 2008] (CFF) Credentials, Chartered Accountants (CA - Canada), Certified Management Accountants (CMA - Canada), Chartered Professional Accountants (CPA - Canada)), Chartered Certified Accountants (CCA - UK), or Certified Forensic Investigation Professionals (CFIP). In India there is a separate breed of forensic accountants called Certified Forensic Accounting Professionals.
Forensic accounting Forensic accounting, forensic accountancy or financial forensics is the specialty practice area of accounting that describes engagements that result from actual or anticipated disputes or litigation. "The work performed and reports issued will often provide answers to the how, where, what, why and who. However, ultimately the court decides." (David Malamed, Forensic Accountant, Toronto Ontario.) "Forensic" means "suitable for use in a court of law", and it is to that standard and potential outcome that forensic accountants generally have to work. Forensic accountants, also referred to as forensic auditors or investigative auditors, often have to give expert evidence at the eventual trial. All of the larger accounting firms, as well as many medium-sized and boutique firms and various police and government agencies have specialist forensic accounting departments. Within these groups, there may be further sub-specializations: some forensic accountants may, for example, just specialize in insurance claims, personal injury claims, fraud, anti-money-laundering, construction, or royalty audits.
Forensic accounting Forensic accounting and fraud investigation methodologies are different than internal auditing. Thus forensic accounting services and practice should be handled by forensic accounting experts, not by internal auditing experts. Forensic accountants may appear on the crime scene a little later than fraud auditors, but their major contribution is in translating complex financial transactions and numerical data into terms that ordinary laypersons can understand. That is necessary because if the fraud comes to trial, the jury will be made up of ordinary laypersons. On the other hand, internal auditors move on checklists that may not surface the evidence that the jury or regulatory bodies look for. The fieldwork may carry out legal risks if internal auditing checklists are employed instead asking to a forensic accountant and may result serious consultant malpractice risks.
Forensic accounting The Certified Forensic Accountant (CRFAC) program from the American Board of Forensic Accounting assesses Certified Public Accountants (CPAs) knowledge and competence in professional forensic accounting services in a multitude of areas. Forensic accountants may be involved in both litigation support (providing assistance on a given case, primarily related to the calculation or estimation of economic damages and related issues) and investigative accounting (looking into illegal activities). The American Board of Forensic Accounting was established in 1993. For more information please visit For effective learning, professionals will need expert training in the practices of forensic accounting. The American Board of Forensic Accounting offers the "Forensic Accounting Review". The CRFAC is a valuable credential and covers the broad base of forensic accounting knowledge. The American Board of Forensic Accounting offers many programs.
Forensic accounting Forensic accountants utilize an understanding of economic theories, business information, financial reporting systems, accounting and auditing standards and procedures, data management & electronic discovery, data analysis techniques for fraud detection, evidence gathering and investigative techniques, and litigation processes and procedures to perform their work. Forensic accountants are also increasingly playing more proactive risk reduction roles by designing and performing extended procedures as part of the statutory audit, acting as advisers to audit committees, fraud deterrence engagements, and assisting in investment analyst research.
Forensic accounting Large accounting firms often have a forensic accounting department.
Forensic accountant Association of Certified Forensic Accounting Professionals offers the Certified Forensic Accounting Professional (CFAP) license for auditors, investigators, information security professionals and accountants.Students need to pass the foundation examinations and professionals can appear for the final examination of CFAP.
Forensic accounting In 2016, the Forensic Auditors Certification Board (FACB) of England and Wales was established by the major forensic auditing and accounting bodies from across the world with its registered address in London. FACB is a professional bodies membership body comprising the International Institute of Certified Forensic Accountants (IICFA) of USA, Institute of Forensic Auditors of Zimbabwe (IFA), Institute of Forensic Accountants of Pakistan (IFAP), Institute of Certified Forensic Accountants (ICFA) of USA and Canada and the Institute of Forensic Accountants of Nigeria (IFA). FACB plays several roles and one the roles is standardization of the examination and certification of forensic auditors globally. Forensic auditors and accountants sit for one examination that is set by FACB and upon passing and meeting all the professional requirements, are awarded the credential, Certified Forensic Auditor (CFA) or the Registered Forensic Auditor (RFA) for practitioners who intend to go into public practice. All certification is renewed on an annual basis. Apart from practitioners certification, FACB is an oversight body which accredits prospective member organization before admission as part of quality checks. Persons with the FACB credential can practice as forensic auditors on a global scale.
Forensic accounting Some forensic accountants specialize in forensic analytics which is the procurement and analysis of electronic data to reconstruct, detect, or otherwise support a claim of financial fraud. The main steps in forensic analytics are (a) data collection, (b) data preparation, (c) data analysis, and (d) reporting. For example, forensic analytics may be used to review an employee's purchasing card activity to assess whether any of the purchases were diverted or divertible for personal use.
Risk Information assurance is interdisciplinary and draws from multiple fields, including accounting, fraud examination, forensic science, management science, systems engineering, security engineering, and criminology, in addition to computer science.
Forensic accountant A person in this field should have at least 2 years' experience in auditing or accounting and a Bachelor's degree in Accounting or a related field. Some forensic accountants are Certified Forensic Accounting Professionals (CFAPs), Certified Forensic Investigation Professionals (CFIPs), Certified Public Accountants (CPAs), Chartered Accountants (CAs), Certified Management Accountants or Chartered Professional Accountants (CMA/CPA), Certified Fraud Examiners (CFEs), Certified in Financial Forensics (CFFs), Certified Forensic Accountant (CRFAC), Certified Valuation Analysts (CVAs), Investigative & Forensic Accountants (IFAs), or Chartered Certified Forensic Accountants (CCFA). Some have other professional certifications.
Forensic accounting Engagements relating to criminal matters typically arise in the aftermath of fraud. They frequently involve the assessment of accounting systems and accounts presentation—in essence assessing if the numbers reflect reality.
Forensic accountant The Association of Certified Fraud Examiners offers the Certified Fraud Examiner (CFE) license for forensic of public accountants involved in fraud prevention, detection, deterrence, and investigation. Individuals must have a bachelor's degree, two years of relevant experience, pass a four-part examination, and abide by a code of professional ethics, in order to obtain a CFE.
Forensic accountant The CRFAC covers the broad base of forensic accounting knowledge. The CRFAC credential was first put into use in 1993. The American Board of Forensic Accounting offers many programs. For effective learning, professionals will need expert training in the practices of forensic accounting. The American Board of Forensic Accounting offers the "Forensic Accounting Review".
Forensic accountant The American Institute of Certified Public Accountants has a subject matter expertise credential for forensic accountants. The credential is Certified in Financial Forensics ("CFF"). "The CFF credential is granted exclusively to CPAs who demonstrate considerable expertise in forensic accounting through their knowledge, skills, and experience. The CFF encompasses fundamental and specialized forensic accounting skills that CPA practitioners apply in a variety of service areas, including: bankruptcy and insolvency; computer forensic analysis; family law; valuations; fraud prevention, detection, and response; financial statement misrepresentation; and economic damages calculations."
Forensic accountant The Certified Forensic Accountant credentialing process offered by the American Board of Forensic Accounting is used to assess the knowledge and competence of Certified Public Accountants (CPAs) in professional forensic accounting services in a multitude of areas.
Frank A Buckless The Auditing cases book compiled by the Technical Working Group on Education in Fraud and Forensic Accounting is a suggested reading for forensic accounting.
Forensic accountant The Chartered Certified Forensic Accountant, CCFA designation is a global forensic accounting designation awarded by the International Institute of Certified Forensic Accountants, Inc. (IICFA). To be awarded with the CCFA designation, one must pass all four (4) levels of the CCFA qualifying exams and must obtain two years post qualification or professional experience with a reputable forensic accounting firm. Qualified students must undergo a three-day practical forensic accounting workshop before graduation and admission into membership.
Forensic firearm examination Any firearm collected during the course of an investigation could yield viable evidence if examined. For forensic firearm examination specific evidence that can be recovered include weapon serial numbers and potentially fingerprints left on the weapon's surface.
Forensic firearm examination Further criticism came from the 2009 NAS report on the current state of various forensic fields in the United States. The report's section on firearm examination focused on the lack of defined requirements that are necessary in order to determine "matches" between known and unknown striations. The NAS stated that, "sufficient studies have not been done to understand the reliability and repeatability of the methods." Without defined procedures on what is and what isn't considered "sufficient agreement" the report states that forensic firearm examination contains fundamental problems that need to be addressed by the forensic community through a set of repeatable scientific studies that outline standard operating procedures that should be adopted by all firearm examiners. Another report issued in 2016 by the United States President's Council of Advisors on Science and Technology confirmed the NAS's findings, finding only one appropriately designed study that examined the rate of false positives and reliability amongst firearm examiners.