Forensic Accountants as Fraud Buggers Case Study

Forensic Accountants as Fraud Buggers - Case Study ExampleA forensic accountant must be equipped with investigative skills. These skills are important in gathering, evaluating and analyzing accounting data and audited information from business organizations (Ramaswamy, 2010). It is through these skills that a forensic accountant will be able to determine possible discrepancies and loopholes deep down audited accounting data and information (Carnes & Gierlasinski, 2001 DiGabriele, 2008). The effectiveness of a forensic accountant is measured by the ability to maintain investigative skills to interpret accounting information and fiscal evidence to back misappropriation of resources within a business organization or company (Fleming, Pearson, Riley & Richard, 2008). Fraudsters within companies and business organizations often devise methods of embezzlement or fraud that are hard to detect. It is in this regard that a forensic accountant must confuse effective investigative skills to detect accounting problems which would not be determined by ordinary auditing and accounting approaches (Bawaneh, 2011). Investigative skills also allow a forensic accountant to adhere to the ethics and regulations that govern investigations of criminal cases.Computing or technical skills are required for an effective forensic accountant. This is due to the fact that contemporaneous companies and business environments have adoptive and implemented information technology methods in accounting and finance (Fleming, Pearson, Riley & Richard, 2008).... This is due to the fact that contemporary companies and business environments have adopted and implemented information technology methods in accounting and finance (Fleming, Pearson, Riley & Richard, 2008). Through computing skills, a forensic accountant is able to retrieve, analyzed and report financial evidence in electronic formats (Topping, 2008). More importantly a forensic accountant must be able to apply computer software and appl ications and otherwise computer assisted tools to detect fraud or embezzlement of resources within companies (Fleming, Pearson, Riley & Richard, 2008). Modern business organizations are characterized by what is referred to as white collar crime in which technology is utilise to defraud or embezzle resources and hide evidence. It is in this sense that computing skills of a forensic accountant become fundamental (Carnes & Gierlasinski, 2001). Litigation skills area also required for effective forensic accountants. These skills are significant in the role of a forensic accountant as an umpire or mediator in legal accounting problems. These skills are also important because they enable forensic accountants to be effective experts and credible consultants who could be used by companies to detect and report fraud or embezzlement of resources. Through litigation skills, forensic accountants are able to evaluate damages and losses and see to it ways of resolving disputes among the dis putants (Topping, 2008). Other important skills of a forensic accountant include analytic and forensic skills. Effective forensic accountants must have analytical skills that will empower them to determine the importance of the gathered financial evidence in reporting fraud (DiGabriele, 2008). Through analytical skills, forensic accountants analyze and professionally