Describe some of the tools and references available on the ACFE website (www.acfe.com) and explain how they can be used by a forensic a
Describe some of the tools and references available on the ACFE website (www.acfe.com) and explain how they can be used by a forensic accountant. Provide at least two specific examples to support your explanation. Solid academic writing is expected, and any sources used should be cited. NOTE: Do not use the same examples as already posted by a classmate, so be sure to post yours early.
The ACFE Web site, as known as the Association of Certified Fraud Examiners has many resources, tips, and tricks. One the website, they have a specific tab for fraud resources. On this tab, auditors are able to search by a topic for learning to investigate, how to prevent certain items, etc. For example, auditors are able to go to the resources tab, click on tips and tricks and find articles on how to detect fraud, how to detect deception, etc. A great article title Fraud Brainstorming offers information on things to look out when conducting an audit. Another example on how auditors could use the website is to click on the training tab. Here you can find multiple trainings. Most are for purchase, and offer CPE credits.
Explain the difference between the role of auditing, forensic accounting, and fraud examination. Discuss key characteristics of each, especially in relation to methodology used. Which role interests you most as a professional and why? In a follow up post, comment on a classmate’s interest and the interdependence your role and your classmate’s role may have in a professional setting.
An auditor is an accountant that is hired to review a company’s financial statements and give an opinion on them. There are different kinds of auditor such as internal, external, and governmental, but their jobs are relatively the same. They are used to ensure that a company or organization is maintaining accurate and honest financial records so that others can use them with confidence. Forensic accounting is a combination of accounting and investigative techniques used to discover financial crimes. In other words, forensic accountants use their accounting background for “legal purposes” (1001 Crumbley, Heitger, Stevenson). A fraud examiner is someone who may or may not be an accountant. They are called in as detectives once a forensic accountant suspects fraud. Their job is to conduct fraud examinations to find evidence that would either prove or disprove fraud. Forensic accounting interest me the most. Being able to analyze, interpret, and summarize complex financial and business matters to help discover financial crimes intrigues me.
Wells, Joseph T. “The Fraud Examiners.” Journal Of Accountancy (2003): n.pag. Journal Of Accountancy. Oct. 2003. Web. 05 Feb. 2014.
Crumbley, D. Larry., Lester E. Heitger, and G. Stevenson. Smith. Forensic and Investigative Accounting. Chicago: CCH, 2011. Print.
Louwers, Timothy J., Robert J. Ramsay, David H. Sinason, Jerry R. Strawser, and Jay C. Thibodeau. Auditing & Assurance Services. New York: McGraw-Hill/Irwin, 2011. Print.