One role forensic accountant have is to be expert witnesses and give testimony in court.
There are certain principles that guide forensic accountants in this role. The AICPA
Professional Standards are designed to establish and maintain trust between a forensic
accountant and their client and between the forensic accountant and the court. The
rules of professional conduct a forensic accountant must follow include independence,
integrity and objectivity, general standards (professional competence, due professional
care, planning and supervision, and sufficient relevant data), compliance, accounting
principles, responsibilities to clients, etc (Rufus et al, 2015).
To demonstrate due care, the forensic accountant should perform professional services
to the best of their ability and maintain a high level of competence. This means a
commitment to learning and continually striving for professional improvement.
Additionally, the forensic accountant should not perform work that exceeds their ability,
and either bring in a consultant or refer the work to someone else should that situation
occur (AICPA). Objectivity refers to the forensic accountant remaining impartial,
intellectually honest, and free of conflicts of interest. Should the forensic accountant
have a reason to not remain objective, such as having stock in the company they are
testifying for or a longstanding friendship with the CEO, then they should decline work
or testifying for this company. A forensic accountant should maintain a high level of
integrity because the public’s trust is built on this quality. To demonstrate integrity, a
forensic accountant should be honest and should not perform work for personal gain
(AICPA).
AICPA. (2013, June 1). Code of Professional Conduct and Bylaws.
https://us.aicpa.org/content/dam/aicpa/research/standards/codeofconduct/dow
nloadabledocuments/2013june1codeofprofessionalconduct.pdf
Rufus, R.J., Miller, L. S., & Hahn, W. (2015). Forensic Accounting. Pearson Education.
