Forensic Accounting - Assignment Example

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With consideration of “forensic”, the accounting technique is used in suitable courts of judicature or to public debate and discussions (Golden, Skalak & Clayton, 2006).
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Forensic Accounting
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FORENSIC ACCOUNTING al Affiliation) Meaning of forensic accounting Forensic accounting provides analysis that is suitable for investigation of the courts. With consideration of “forensic”, the accounting technique is used in suitable courts of judicature or to public debate and discussions (Golden, Skalak & Clayton, 2006).
Current trends in forensic accounting
Forensic accountants in their operations in the current situations are helping in creation of prevention programs by the clients. The accountants also provide litigation support programs and delver behind the numbers to detect complicated crimes such as securities fraud, money laundering, embezzlements and bribery (Hopwood, Leiner & Young, 2008). There has also been growth in the demand for the services of forensic accountants as there is increase in the success rates of investigations that are conducted by forensic accounting (Zimbelman, 2012).
There are many engagements of forensic accountants’ services. Computer forensic investigation has trended with an expected of 83% great demand in the next years with the mean anticipated to have a mean of 20% increase (Taylor, 2011). In misinterpretation of financial statements, there have been engagements of forensic accountants or recognition of revenue and valuation of assets carried out at a fair value.
Latest events in forensic accounting
Latest events in the field are the increase in demand both in regional and international basis has pushed for more education focusing on the field. The demand has currently led to hiring of consultants from the other countries to detect and prevent fraud.
Career possibility in forensic accounting
Forensic accounting is a career and employment generation filed due to the activities that are performed in the field. The field is a carrier as the activities that are performed are those that are related to accounting career and forensic science (Zimbelman, 2012). The types of services that are performed such as financial data analysis, business valuation, maintaining documents and damage assessment make the field a career field.
Golden, T., Skalak, S., & Clayton, M. (2006). A guide to forensic accounting investigation. Hoboken, N.J.: J. Wiley.
Hopwood, W., Leiner, J., & Young, G. (2008). Forensic accounting. Boston: McGraw-Hill/Irwin.
Taylor, J. (2011). Forensic accounting. Harlow: Financial Times/ Prentice Hall.
Zimbelman, M. (2012). Forensic accounting. Australia; United Kingdom: South-Western/Cengage Learning. Read More
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