I hope to someday be able to become a CFE and continue on with this line of work. I feel that
specifically the financial statement analysis will be the most useful and I also found it very interesting.
I work for a 225-employee company that is steadily growing and we recently purchased a very small
company to eventually fold into ours. I have discussed with the CFO my interest in auditing and
analysis and he is very encouraging for me to continue that in our company. His specialty is analysis
so he is very excited that someone else would also like to work on this aspect of the company. He has
me doing a small bit of trend analysis with the company as I do payroll and assist Accounts receivable
and a little of everything else. Since I see so many aspects of the company, he has me looking for
patterns and how to either improve or stop these from continuing. I understand that there is so much
more to all of this analysis but being able to participate in them currently is very exciting for me. The
company I work for is a privately owned construction company which has its short comings also. I am
keeping my options open to pursue other positions outside of this company also. It never hurts to see
what is out there, while this job is wonderful, there may be one that is even better. I have really
enjoyed this course. I feel like I have learned a lot about a wide variety of topics. Interestingly enough
I think the concept that will impact me the most in my future career is the processing of screening
engagements. Having just completed the discussion post regarding oral reporting, I have realized that
this is something I should look for in an enagement. Or even clarify with a client prior to accepting an
engagement. I feel as though the entire concept is too risky to be relied upon on its own. This is not
something I ever would have thought about before this course. Additionally, the exercise where we
had to decide if we would accept or reject an engagement based on the information provided really
made me think. That case was pretty clear cut, but they won't always be that clear. I learned that I need
to look beyond compensation and scope (is this a case that my skill set is equipt to handle) and
consider the reputation and history of the client as well.
When going into this class, I wasnt sure exactly what to expect. I thought the concept of forensic
accounting was something I had never experienced. However, a lot of the concepts in this class are
ones previously covered in various classes over the course of this and my undergrad degree. One topic
that always stands out is the fraud triangle. The fraud triangle essentially says "individuals are
motivated to commit fraud when three elements come together: (1) some kind of perceived pressure,
(2) some perceived opportunity, and (3) some way to rationalize the fraud as not being inconsistent
with one’s values.” (NWC, n.d.) I liked applying that theory to the Worldcom fraud scheme.
Additionally, I watch a lot of crime dramas and learning about the fraud triangle helps me better
understand the detectives perspective when trying to determine who is committing the crime (whether
it be fraud or any other crime.) I like being able to take concepts and applying them to different areas
of life.
When I initially started college, ethics was a standard lecture topic. Behavior and professionalism are
two areas in which accountants are held to high standards. This training has significantly shifted my
perspective on accounting ethics. Before completing this course, I had a layperson's perspective on
ethics. I saw it as a mechanism to answer questions about human morality by defining concrete
categories for concepts like good, evil, right, wrong, virtue, and vice. Therefore, the AICPA and the
IMA have codified codes of ethics that their respective members must abide by (Ishaque, 2020). This
course has taught me that issues of public trust are at the heart of accounting ethics and provide the
foundation for legal and regulatory responsibilities in the field.
Attempting to apply theoretical models to ethical questions is too much work. Ethical decision-making
requires even more clarity of values than decision-making generally does. When we think of leaders,
we think of people who act ethically. Most citizens hope their leaders will provide an example of
moral conduct (Fernandhytia & Muslichah, 2020). Ethical decision assessment and implementation
may vary based on the context, as opposed to the basic principles and processes that may be easily
automated for financial, inventory, and production decisions. Some aspects of a model will work
wonderfully, while others will not. Since then, critical thought and judgment have been required when
applying predictive concepts to ethical dilemmas. When weighing the benefits of applying theoretical
models to ethical circumstances against the stress of doing so, it is clear that doing so is worthwhile.
These benefits include preserving public trust, avoiding administrative probes and punishments, and
stabilizing stock prices.
The course's most intriguing and helpful takeaway is the importance of ethical behavior in accounting.
This article suggests that accountants should give ethics considerable consideration in order to prevent
ethical issues by analyzing fraudulent cases and determining the involvement of accountants in the
fraud, whether by willing participation in the crime or negligence (Shanks, 2020). Due to multiple
corporate scandals in the accounting world, which will call into question the reputation of the
Profession, I have learned via this course that Ethics has become an essential area of concern in the
accounting profession. Hence, accountants risk a wide range of accusations when they act dishonestly.
For example, in the ENRON case, the author Anderson had his license to practice law revoked and his
character smeared. The top brass of Enron was unquestionably unethical. Why leaders might act
unethically to the point of bringing down a huge corporation can be challenging to fathom. The
executives at Enron were motivated by ethical egoism when making moral judgments. Financial
statements of corporations would be accurate, truthful, and reliable if only accountants followed the
rules.
The course titled ‘ACC 646: Intro to Forensic Accounting/Fraud Exam’ has been extremely
informative as it has broadened my insight on forensic accounting and how the learned concepts can
be adopted in the real-life setting. The course helps me learn about characteristics that can help in the
detection of fraud and criminal activities involving accounting. One of the chief elements of the course
that I found most interesting was the use of information technology in the forensic accounting context.
As the course has been designed in an in-depth manner, I got the opportunity to learn and identify how
an individual might be motivated to engage in fraudulent accounting practices within an organization.
As instances of accounting fraud and malpractices have become extremely common in the
contemporary business landscape, the course can help me to use my learned knowledge and skills in
the practical setting to conduct an investigation.
The course helped me to strengthen my skills relating to performing analysis and problem-solving. I
can use these skills in the forensic accounting domain to uncover fraudulent activities or malpractices.
By using these skills, I will be able to design robust and effective antifraud techniques and control
measures in my organizational setting and play a constructive role in preventing fraudulent activities
from taking place. For excelling in the specific area, I need to make sure that I use my accounting
knowledge along with critical-thinking skills to evaluate issues in a detailed manner. The adoption of
ethical principles such as transparency, honesty and integrity and responsibility is also necessary for
professionals in the domain to promote the adoption of responsible and genuine accounting practices.
After taking up the course, I have realized that I also need to develop appropriate digital skills so that
I can carefully assess financial data and identify manipulations or discrepancies.
Reference
Fernandhytia, F., & Muslichah, M. (2020). The effect of internal control, individual morality and
ethical value on accounting fraud tendency. Media Ekonomi Dan Manajemen, 35(1), 112-127.
http://jurnal.untagsmg.ac.id/index.php/fe/article/view/1343
Ishaque, M. (2020, January). Cognitive approach to understand the impact of conflict of interests on
accounting professionals’ decision-making behaviour. In Accounting Forum (Vol. 44, No. 1, pp. 64-
98). Routledge. https://doi.org/10.1080/01559982.2019.1583303
Shanks, R. (2020). Is the IESBA Code of Ethics sufficient to help solve ethical dilemmas facing the
accounting profession?. London: Institute of Business Ethics.
https://www.ibe.org.uk/uploads/assets/deb95714-bf4d-4e9a-a6444c2451c3b766/2020-Winning-Essay-
Postgraduate.pdf
Fraud triangle. National Whistleblower Center. (n.d.). Retrieved April 4, 2023, from
https://www.whistleblowers.org/fraud-triangle/
