There are several skills and qualifications that are necessary and required to provide expert witness testimony. In my opinion there are a few skills and qualifications that I think are most important. It is important to for and individual to have membership in professional associations of computer forensic examiners, formal training and certifications. This helps insure that the individual is properly trained and has the necessary skills to perform forensic analysis. This is critical to be a good export witness.
Financial Statement Paper P Agnes Pierre Louis ACC/280 September 26, 2011 Minh Truong Financial Statement Paper In today’s business world it is required to keep an accurate account for assets and liabilities of each company. Good and ethical accounting practices can build the base for a strong and profitable company if the information is used properly. The definition of accounting is obvious but one most know the purpose of accounting which will be covered in the following paragraphs. There are four financial statements that are prepared by companies in today’s society as a form of reporting accounting companies. Those statements are income statement, retained earnings statement, balance sheet, and statement of cash flows.
The credibility of evidence relies often on the handlers, examiners, experts and presenters. Investigations and prosecutions are based on forensic research. Being knowledgeable with terms is a must to be relied upon to provide credible
INTRODUCTION At times we may wonder what is meant by ethics, why accountants need ethics in their business life or even how they are related. As we may know, definitions of ethics vary with time but in most cases it is defined” With these definitions we can understand that basically ethics is knowing what is right (Mitchell 2009). Ethics in accounting and finance a global concern today (Onyebuchi, 2011). However, the accounting and finance sector has over the past years developed a culture of ethical misconduct (Gianneti & Yue Wang, 2014). According to Anup & Chadha (2005), Ethical misconducts often lead to corporate scandals that come with serious consequences e.g.
Sarbanes-Oxley Act is designed to make all personnel accountable for their action or inactions. For example, external, internal, and foreign attorneys are required to report violations to CEO/CFOs. If the officer(s) do not respond to the evidence provided by the attorney(s), they are obligated to report the evidence to the audit committee or another committee of the board. The act also provides protection to whistle blowers under Title VIII: Corporate and Criminal Fraud Accountability Act of 2002 (American Institute of CPAs,
3.During the investigation, assess the most significant red flags which would have been an indication of possible fraud needing corrective action by management. 4.Based on your research, suggest key practices the fraud investigator could have used in conducting interviews with the fraudster and the company’s employees. Assess the various interviews and interrogation questions available to you, and select the type of interview and interrogation questions that would have been most appropriate for this investigation. Provide support for your rationale. 5.Recommend a fraud prevention plan for this organization.
Full disclosure requires that publicly traded businesses use accrual based accounting and revenues are recognized as sales are earned. Full disclosure also requires that footnotes describe accounting procedures and provide details for unusual transactions. With companies such as Enron and WorldCom, the accounting field has an increased need for businesses to tell the truth in its financial statements. Full disclosure acts as the obligation for businesses to be truthful in its statements in order to protect the parties
There should also be an increased use of ADR in courts those tribunals for civil cases. ADR is a great way to solve civil cases not everyone has the money to go court so ADR is an option in civil cases. A problem that may affect the access of the legal system is the strict rules of evidence resulting in useful evidence being inadmissible. Evidence such as stolen evidence cannot be used in court it could be very useful in get to the bottom of a case but it inadmissible because it was stolen. There are also difficulties with witnesses giving evidence.
The Financial Accounting Research System (FARS) is a system that contains six different databases that provide accountants’ access to official guidance to Generally Accepted Accounting Principles (GAAP). The purpose of FARS is to give accountants an effective and efficient way to research accounting literature that is up to date. It also helps to ensure data accuracy will all of the different accounting standards and laws. The FARS is beneficial to the accounting profession being a major database to search for all needed information. Without this type of database, accountants would be forced with searching many different databases with the possibility of coming up with conflicting and/or inaccurate information.
Introduction Forensic science has evolved into a necessity for the criminal justice world. Before the development of forensic science, many of the cases heavily relied upon confessions and testimonies of the witnesses. Forensic science has given police officers the ability to efficiently and effectively collect, analyze, and process evidence. Without forensic science, criminals would be committing the same crimes repeatedly. While criminals get more creative, the criminal justice system and forensic science specialists have to update the techniques and tools that are used while obtaining evidence for the new crimes.