Forensic accounting – accounting for future
22/2007 ,
Author(s):
Lucian CERNUŞCA
Cristina DIMA
Sharad KUMAR
Keywords:
Forensic accounting, audit, corporate, fraud, financial statements, financial analysis, corruption
Abstract:
It is generally believed that prudent accounting is a genre of this century. However, there have been instances of prudent accountants in each age. No doubt the forensic accounting had covered a long way in establishing itself as a new branch of forensic sciences and has opened new vistas of growth for forensic accountants.
This article details the concept of forensic accounting as it exists in the Anglo-Saxon world, with reference to UK and US literature, evidence and experience. The authors explain the concept of forensic accounting and the terms related to it, such as different types of audit and fraud examination using statistical analysis, forensic analysis and interviewing techniques. The authors also explain what jobs a forensic accountant performs in the corporate world and examples are given for a better understanding of the concepts presented in the article. Also, the authors explain how, on an international level, accountants deal with corruption therefore stopping it before it reaches critical levels.
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