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[2] [1] These standards will guide Forensic Accounting and Investigation Professionals to become experts and contribute in Judicial Proceedings. [4] These standards were classified as Standards on Key Concepts, Standards on Engagement Management, Standards on the Executing Assignments, Standards on Specialised Areas, and; Standards on Quality ...
Forensic accounting, forensic accountancy or financial forensics is the specialty practice area of accounting that investigates whether firms engage in financial reporting misconduct, [1] or financial misconduct within the workplace by employees, officers or directors of the organization. [2]
Forensic accountants need to have a great deal of access to information regarding the company they are investigating or assisting. The information will determine how much a person actually makes, the worth of a business, if there has been fraudulent activity, who committed the fraud, everyone involved, how much was taken from the company, where the money went, and how much can be recovered.
It consisted of four subject areas (sections) which were tested in five sittings: Auditing (3.5 hours); Business Law (3.5 hours); Accounting Theory (3.5 hours); and Accounting Practice (Part I & Part II; 4.5 hours each). Although Accounting Practice Parts I and II were given in separate sittings, the two scores were combined for grading purposes.
Benny K B Kwok is a forensic accountant and an expert witness, the author of a series of published titles in print worldwide - Forensic Accountancy 1st & 2nd Editions [1] Financial Analysis in Hong Kong 1st & 2nd Editions, [2] "Business Terms & Phrases for Surveyors, Engineers & Facilities Managers in Hong Kong" (Knowledge Conservation 2016) ISBN 9789887735106 and Accounting Irregularities in ...
Accounting, also known as accountancy, is the process of recording and processing information about economic entities, such as businesses and corporations. [1] [2] Accounting measures the results of an organization's economic activities and conveys this information to a variety of stakeholders, including investors, creditors, management, and regulators. [3]
Historical Cost Accounting, i.e., financial capital maintenance in nominal monetary units, is based on the stable measuring unit assumption under which accountants simply assume that money, the monetary unit of measure, is perfectly stable in real value for the purpose of measuring (1) monetary items not inflation-indexed daily in terms of the ...
The institute was established in 2007 under the Corporate Affairs Commission, [1] Nigeria. The establishment process of the institute started in 2006, but because of the complex nature of forensic accounting, on 28 November 2006 the Corporate Affairs Commission, Nigeria sought for written permission for the establishment of the institute from the Nigerian Federal Ministry of Education's [2 ...