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Forensic Accounting vs Fraud examination: Roles, Importance and Differences

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  • Tekavčič Metka

    (School of Business and Economics, University of Ljubljana)

  • Damijan Sandra

    (School of Business and Economics, University of Ljubljana)

Abstract

Fraud has existed throughout history. Yet, it is estimated that today's occurrence has a huge impact on global revenues, highlighting the importance of fraud examination and forensic accounting. Although the roles of the two disciplines appear to be similar (e.g. litigation support), they differ significantly in their objectives, with the goal of fraud auditing being to determine whether fraud has occurred and, if so, who is responsible. Forensic accounting has the additional objective of assessing the financial consequences and determining whether the allegations have a factual basis by analyzing the financial evidence.

Suggested Citation

  • Tekavčič Metka & Damijan Sandra, 2021. "Forensic Accounting vs Fraud examination: Roles, Importance and Differences," Journal of Forensic Accounting Profession, Sciendo, vol. 1(2), pages 29-47, December.
    • Handle: RePEc:vrs:jfaccp:v:1:y:2021:i:2:p:29-47:n:4
    DOI: 10.2478/jfap-2021-0007
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    References listed on IDEAS

    as
    1. Mark E. Lokanan, 2015. "Challenges to the fraud triangle: Questions on its usefulness," Accounting Forum, Taylor & Francis Journals, vol. 39(3), pages 201-224, September.
    2. Niamh Brennan, 2014. "Forensic Accounting in a Constitutional Parliamentary Democracy: The Case of Ireland," Open Access publications 10197/6211, Research Repository, University College Dublin.
    3. Ozili, Peterson K, 2015. "Forensic Accounting and Fraud: A Review of Literature and Policy Implications," MPRA Paper 77236, University Library of Munich, Germany.
    Full references (including those not matched with items on IDEAS)

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