The skill that I find most helpful that I learned from this class is to always
be on the lookout for potential fraud. b I think that when you have studied
fraud investigations, you carry that skepticism with you forever. b Knowing
what could become a potential issue allows you to identify the signs
quicker and makes you a better accountant. b It is our job to ensure that
financial statements are reported correctly as we are the last line of
defense before the BOD or executives review it and than includes any
fraudulent activity. b Know that everyone has the potential and the
opportunity to commit fraud so it is very important that internal controls
are strong and that employees feel comfortable coming forward if they
suspect any wrong doings.
These skills included gathering data and transforming data into evidence,
which allows one to provide an interpretation of the evidence so that one
gains the understanding necessary to provide the assurance to the
courts or the public interest, depending on the setting. Effective data
gathering as a forensic accountant will require one to exercise
professional judgment when determining the types of data one will
analyze and when determining whether the data gathered was sufficient,
relevant, and reliable. “Forensic Accountants as professionals are trained
to be proficient in the use of professional skills, core arithmetic, analytical
and investigative skills, and competencies in the assessment of risk
factors that could lead to material misstatement” (N.U., & Okenwa, 2021,
451). The concepts learned allows us to understand how to conduct an
investigation and the steps needed to detect any potential fraud or
misstatements that can affect the relevance and reliability of the data
reported on a company’s financial statement. Given that I work as an
Accounting Manager for a nonprofit organization, I was able to
acknowledge the importance of written reports and the need to document
any details that can potentially impact the outcome of a case or
investigation. b I have found myself writing up summary reports after every
meeting that I have with program directors, peers, management, and
other third parties, as it helps me document any needs or concerns that
the individuals may have expressed during our meeting. I can then
always look back at these reports to serve as guidance when
constructing budgets and making revisions when necessary. “More
importantly, the forensic accountant’s objective is to provide a credible
and legally sufficient communication,” as it can, “provide a
comprehensive discussion of the assignment, allowing the reader to
develop a greater understanding of the data, reasoning, and analyses
leading to the opinions (conclusions) stated” (Rufus et al., 2015, 380).
Thanks,
Romario
References
J., N. U., & Okenwa, O. C. (2021). Effective Deploy of Digital Forensic
Techniques and the Sustenance of Material Misstatement-Free Financial
Reporting in b b Nigeria. Journal of Academic Research in Economics,
13(3), 442–478
Rufus, R., Miller, L., & Hahn, W. (2015). Forensic Accounting. Pearson
Education, Inc.
