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Management Responsibilites with regards to Forensic Accounting - Research Paper Example

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The business success, therefore, depends on the skills that managers use to ensure that the management responsibilities are carried out. The management…
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Management Responsibilites with regards to Forensic Accounting
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Download file to see previous pages Moreover, they offer litigation assistance to attorneys and agencies of regulations enforcement investigating financial crimes (Abdolmohammadi, pp 13). The management responsibilities can, therefore, be done in regard to forensic accounting.
One key management responsibility involves the strategic planning for the business. For the business to succeed, the management should guarantee that they embark on the strategic planning of the affairs of the business. Strategic planning enables a business to formulate the objectives of the business (Emerald Journal). In strategic planning forensic accounting is also included so that the capital invested in the business is correctly used. In case of a mismanagement of the capital then it is noticed at an earlier stage before it creates a severe problem to the management and business.
The supervising and evaluation of the overall performance of the business is also a chief management responsibility. The operation of a business includes many performances, which are carried out by different departments of a business. The management does the evaluation of the activities of each branch and management through the supervisors does the monitoring of the operations of the each department. This is to ensure that the operations of the business are done in accordance to the strategic plans. The management further ensures that evaluation is effective through using forensic accounting to make sure that no fund from each department is embezzled. The forensic accounting is majorly used in evaluation at the financial department because this department is responsible for all the assets of the business (Arokiasamy, Koh and Suat, pp 146).
The management responsibility is also to ensure that all the employees uphold high conduct standards. The conduct of the employees determines the image that the public has about a business. It is, therefore, significant for the administration to ...Download file to see next pagesRead More
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