Forensic Accountants in Controlling and Managing Frauds and Audit

This article discusses the role of forensic accountants in controlling and managing frauds and audit in Australian companies. It highlights the importance of forensic accounting in preventing and resolving instances of fraud and disagreements. The article also explores the techniques and methods used by forensic accountants in their investigations.

Forensic Accountants In Controlling And Managing Frauds And Audit 1
HOW FORENSIC ACCOUNTANTS HAVE HELPED WITH ASSISTING IN
CONTROLLING AND MANAGING FRAUDS AND AUDIT THROUGH INVESTIGATIONS
IN AUSTRALIAN COMPANIES
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Forensic Accountants In Controlling And Managing Frauds And Audit 2
Summary of the hypothesis together with progression in the accounting sector
Presences of different departments dealing with the processes as well as operations of
forensic accounting in diverse corporations within Australian marketplaces have mainly assisted
in avoidance and recognition of incidences of scam. The innovation has helped the organizations
within Australia to prevent misconduct in operations, reduces instances of infringes of the
diverse operational policy along with operational laws. It has therefore aided in the process of
preventing as well as resolving various instances of disagreements. The hypothesis of forensic
accounting according to sediments by Whiting, Hansen, McDonald, Albrecht, and Albrecht
(2012) refers to specialty practice sector of accounting that target at describing various
engagements that exists from the real or imagined disputes or litigation in processes of
organizations. According to the Hartley (2010), operations conducted during the process of
forensic accounting in most cases aid expert intelligence says where accountants are forever
ready to help in professional intelligence claims. Through such functions of forensic accounting,
accountants are ever-ready able to assess and comment on various duties of other professionals.
In Australia community, functions of forensic accountants are always significant as they aid the
process of managing and controlling different funds and poor authority that pose severe risks for
every organization in the country. Fleming, Hermanson, Kranacher, and Riley (2016) in their
report recorded that, management of dangers frauds and its audit throughout examinations in
Australian organizations is a useful element in attaining business responsibilities of transparency
alongside liability in operations. Creation of an appropriate approach to managing and control
frauds alongside audit throughout the analysis in Australian organizations to be complex anxiety
that requires necessary skills and knowledge of different Australian principles that concern with
instances of scam and management of corrupt activities such as (AS) 80001-2003 (Robertson

Forensic Accountants In Controlling And Managing Frauds And Audit 3
2017). Consequently, this survey paper relies on an examination of four diverse journals that
relates to forensic accounting. The four articles in the assessment are all illustrating how forensic
accountants have aided in processes of controlling and managing different instances of scams
along with audit throughout analysis among Australian organizations.
Common results across four different articles
The outline together with presentations of the four different selected materials for
examination has some shared outcomes. The outcomes of these articles are illustrating ideas on
the manner forensic accountants have aided in preventing as well as supervising cases of frauds
together with audit throughout investigations conducted among organizations within Australian
community (Robertson 2017). The articles both records that forensic accountants need to
concentrate on engaging in several types that target at controlling and improving that manner in
which they handled fraud while in the operations of making audits for different transactions.
Besides, forensic accountants have been advised to ensure that they conduct calculations of
different financial damages. The idea can be a noble course in that it can help such accountants
to be capable of identifying if such instances are suffered through the breaching of operational
contract or tort. Fleming, Hermanson, Kranacher, and Riley (2016) and Robertson (2017) had a
common concern that during the process of controlling of cases of fraud, forensic accountants
have to concentrate on ideas of examining post-gaining disagreements that might consist of
instances of make outs of isolations of a group of different permits. The idea remains to be a way
to aid in ensuring that Australian corporations become more active in the present competitive
business environment. Moreover, it is apparent from the four journals such as that of Hartley
(2010) and Whiting, Hansen, McDonald, Albrecht, and Albrecht (2012) that forensic accountants
implicated in different functions that comprise of instances of improving proceeds of severe

Forensic Accountants In Controlling And Managing Frauds And Audit 4
crime and concerning confiscation of various measures. These proceedings apprehensions or
suppose proceeds of different offense operations or instances of money laundering in operations
of various corporations (Hartley 2010). Therefore, forensic accounting within Australia refers to
a process or approach essential in management together with control of cases of fraud through
investigations done by auditors.
It is apparent from the used articles that different methods that a forensic accountant
utilizes for controlling together with administration of instances of crime in actions of different
corporations change when compared to domestic auditing. For instance, Hartley (2010) and
Fleming, Hermanson, Kranacher, and Riley (2016), supported the views of Whiting, Hansen,
McDonald, Albrecht, and Albrecht (2012) alongside Robertson (2017) that different services or
practices of forensic accounting in managing instances of fraud call for necessary presence of
forensic accountants expert only to handle, but not done by any other internal audit team within
an organization. Moreover, forensic accountants have been reported to be capable of managing
as well as controlling instances of fraud together with reviewing them throughout the process of
investigation within Australian corporations (Robertson 2017). The review is necessary due to
the idea that Australian corporations always use such understanding of hypothesis of economics,
information on business operations, different schemes of financial reporting, practices of
accounting, as well as course and standards of auditing. Besides, other techniques as per the four
analyzed articles that permit forensic accountants in Australia to eradicate instances of scam
through examination within different corporations comprise of the capability of managing
information together with the discovery of electronic data during operations.
There are several techniques used in the process of analyzing information in operations of
Australian corporations. They comprise of the idea of utilizing different techniques for detecting

Forensic Accountants In Controlling And Managing Frauds And Audit 5
fraud. Te other ideas comprise of a collection of evidence, utilizing techniques of investigations,
and prosecuting different courses along with processes to complete their operations (Whiting,
Hansen, McDonald, Albrecht, and Albrecht 2012). Therefore, it is apparent from the articles in
consideration that forensic accountants and their operations within Australia are progressively
playing different practical functions of eradicating risks in operations of most organizations. The
accountants are capable of attaining such steps throughout processes of scheming and executing
extended examinations and actions as part of legislative audit in actions of various corporations
within Australian and other foreign marketplaces.
Different results across the four different articles in use
Some of the disparities in findings of the articles in use arise in the manner forensic
accountants support operations of most companies. The disparities in the operations have aid in
the process of controlling as well as management of frauds in different approaches as auditors
focus on conducting audit activities through the process of conducting researchers among
Australian organizations. For example, Fleming, Hermanson, Kranacher, and Riley (2016)
denoted that forensic accountants in most cases they operate on a range of duties while
Robertson (2017) recorded that every forensic accountant has the shared target of ensuring that
there is a control together with the management of instances of fraud indifferent corporations.
The report on these articles differs because two are of picture that forensic accountants just
concentrates or specializes in forensic analytics that stands to obtain operation and examination
of information intended to detection, renovation, or else offer sustainability to claims of several
cases of scam in financial operations. Besides, these articles have differences as they have
diverse opinions on how they illustrate different significance steps that every forensic accountant
have to concentrate on during the processes of conducting their analysis within different

Forensic Accountants In Controlling And Managing Frauds And Audit 6
organizations. For instance, some authors in consideration have recorded that forensic
accountants consist of different levels of information collection, arranging data along with
coverage of the outcomes. Conversely, Hartley (2010) was of the view that suitable action to be
taken and pursued promptly throughout process of examination of an instance of fraud. The idea
can be important for the management or control is done by forensic accountants by incorporating
four different aligned steps. These approaches comprise of the idea of collecting necessary data,
preparation of the gathered information, analyzing the gathered information, as well as
effectively reporting the result. Other researchers in consideration in this study like Whiting,
Hansen, McDonald, Albrecht, and Albrecht (2012) argue in a different manner in terms of how
forensic accountants have aided in the process of controlling as well as managing instants of
frauds along with the process of auditing through investigation within different companies in the
Australian marketplace. The author further stated that forensic accountants could be able to do
their examination that can comprise of reviewing their activities for purchasing the card of
employees. According to the article, such idea in operations can be useful as it can improve the
manner and process taken to assess if any of the purchase done in the past business days might
have been diverted or divertible for the individual user within the organization in question.
Managerial implications of the articles in use
The reports along with presentations of the articles in use are useful as they assist in
reporting various techniques that authority within Australia and managers of diverse corporations
in the sector can utilize. Managers along with authority can depend on such illustrate within
these articles in order to improve how they manage different instances of operational scams and
improve the ways they perform their auditing activities throughout the investigation processes
(Hartley 2010). The major studies presented on these articles are of great importance as they can

Forensic Accountants In Controlling And Managing Frauds And Audit 7
be used to improve technique of warning audience or customers on how actions of forensic
accountants within operations of an organization consist of several issues. These issues
according to work on these articles can be activities that focus on dealing with accounting,
investigative along with techniques of conducting auditing. All these processes can assist in the
process of conducting examinations or analysis of data in an appropriate order. The effective
analysis can then help in improving the manner individuals manages and control instances o
fraud. Hence, through a critical examination of these four different articles, the data received is
critical as they can be of great use to manners (Whiting, Hansen, McDonald, Albrecht, and
Albrecht 2012). Such concepts can be used by different operational managers in different
organizations to understand how forensic accountants can help in understanding the occurrences
of fraud in the process of business operations. Besides, this study offers huge support in
enhancing the understanding of operations of accountants that deals with forensic issues. Such
accountants can then be capable of determining or measuring as well as evaluating the range of
the failure of resources during operation of Australia organizations in diverse market places
through cases of frauds.
It is evident from the analysis and examination of these articles in use that forensic
accountants execute varied operations consisting of analysis and assessment of different accounts
of conducting operations of the trade. The idea also helps in illustrating how the accountants are
responsible for the historical account of business process, looking for indiscretions in business
actions of reviewing different admissions of journals, examining diverse developments in
business processes, together with examining the course of operational finances (Hartley 2010).
Therefore, all such functions of forensic accounts are important in management as well as

Forensic Accountants In Controlling And Managing Frauds And Audit 8
controlling of instances of fraud together with audit functions conducted through examinations
with companies in Australia as the case study.
Limitations of the investigation together with prospect survey direction proposed in these
four different articles
The important survey from these diverse journals is that they limit their concentration on
the manner protection as well as management of scam with the audit is by focusing on study
without concentrating on how to offer great ideas of preventing such instances from happening.
Therefore, this examination still leaves more room as it offers ideas that still requires more
investigation exercises (Fleming, Hermanson, Kranacher, and Riley 2016). The door for research
work on the issue is still open to examining how different organizations both in Australia as well
as in other parts of the global community can manage their operations efficiently through the use
of forensic accounting. There is still a need to conduct extensive research on forensic
accountants and their effect on the operations of most organizations in the community (Hartley
2010). For instance, there is a need to have research to determine how to prevent different
instances of fraud that are in the rise in operations of most organizations. The focus on the
understanding of the management of fraud should e based on the individual organization rather
than having a wider view perception on different organizations (Whiting, Hansen, McDonald,
Albrecht, and Albrecht 2012). The focus should be too narrow to how organization support
throughout the sector of a forensic accountant in can illustrate how it can address issues towards
minimizing fraud from happening rather than focusing on management and control of its
management after cases of fraud has happened. The articles just focus on examining fraud rather
than offering feedback on what is needed to be done to prevent them from happening in business
operations.

Forensic Accountants In Controlling And Managing Frauds And Audit 9
The articles used in this investigation tend to call for every Australian organization to
concentrate on the idea of employing different qualified as well as honest workers. Workers with
such kind of traits can e of essential use in operations of a company. For instance, such workers
can help the companies that have employed them to utilize less input on ideas that deal with
controlling as well as managing different instances of frauds together with audit throughout
investigation among companies within Australia marketplace (Hartley 2010). Consequently, just
like the hind for prospect investigation or examination, it is necessary and deals with the
individual to tackle the comprehensive study of discussion evident through useful elements of
profession of forensic accounting in various nations with the exemption of Australia nation for
comparative examination as well as analysis. Besides such analysis and examination can enhance
how different surveyors can be capable of having a sense to the state of different arts in other
countries around the global community. Such countries must comprise of those that might be
highly disseminated as it is mostly dispersed since no person discloses the manner they act
during forensic examinations.

Forensic Accountants In Controlling And Managing Frauds And Audit 10
List of References
Fleming, A., Hermanson, D., Kranacher, M. and Riley, R. (2016). Financial Reporting Fraud:
Public and Private Companies. Journal of Forensic Accounting Research, 1(1), pp. 27-41.
Hartley, S. (2010). 'What Accountants Do', BusiDate, 18 (2), pp. 2-5.
Robertson, J. (2017). Managing the forensic examination of human hairs in contemporary
forensic practice. Australian Journal of Forensic Sciences, 49(3), pp.239-260.
Whiting, D. Hansen, J. McDonald, J. Albrecht, C. and Albrecht, W. (2012). 'Machine learning
methods for detecting patterns of management fraud', Computational Intelligence, 28($), pp.
505-527. Available from: 10.1111/j.1467-8640.2012.00425.x. [8 May 2019].