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Forensic accounting: a blend of knowledge

Author

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  • Reshma Kumari Tiwari
  • Jasojit Debnath

Abstract

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.

Suggested Citation

  • Reshma Kumari Tiwari & Jasojit Debnath, 2017. "Forensic accounting: a blend of knowledge," Journal of Financial Regulation and Compliance, Emerald Group Publishing Limited, vol. 25(1), pages 73-85, February.
  • Handle: RePEc:eme:jfrcpp:jfrc-05-2016-0043
    DOI: 10.1108/JFRC-05-2016-0043
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    Citations

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    Cited by:

    1. Johan Arifin, 2022. "Determinants of the effectiveness of audit procedures in revealing fraud: An attribution theory approach," International Journal of Research in Business and Social Science (2147-4478), Center for the Strategic Studies in Business and Finance, vol. 11(6), pages 378-387, September.
    2. Monica Ramos Montesdeoca & Agustín J. Sánchez Medina & Felix Blázquez Santana, 2019. "Research Topics in Accounting Fraud in the 21st Century: A State of the Art," Sustainability, MDPI, vol. 11(6), pages 1-31, March.
    3. AlShaikh AlAnoud Mohammed & Al-Adeem Khalid Rasheed, 2023. "Exploring the Current State of Forensic Accounting in Saudi Arabia and Possible Ways of Elevating It to Assist the Government Fighting Corruption," Journal of Forensic Accounting Profession, Sciendo, vol. 3(1), pages 1-37, June.
    4. Razan Nayef Almashaqbeh & Hashem Alshurafat & Hamzeh Al Amosh, 2023. "The Impact of Professionalism Theory Constructs on the Applicability of Forensic Accounting Services: Evidence from Jordan," IJFS, MDPI, vol. 11(4), pages 1-23, December.
    5. Patrick Velte, 2023. "The impact of external auditors on firms’ financial restatements: a review of archival studies and implications for future research," Management Review Quarterly, Springer, vol. 73(3), pages 959-985, September.

    More about this item

    Keywords

    Accounting; Forensic;

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