Forensic Accounting: Gender Differences, Knowledge Components, Tools and Techniques

Running head: FORENSIC ACCOUNTING
FORENSIC ACCOUNTING
Name of the Student:
Name of the University:
Author Note

FORENSIC ACCOUNTING1
Table of Contents
Introduction................................................................................................................................2
1.0 Literature review.............................................................................................................3
1.1 Impact of gender difference on frauds and forensic accounting practices.......................3
1.2 Difference knowledge components and skills possess by forensic accountant...........5
1.3 Difference tools and techniques available for forensic accountant.............................7
1.4 Impact of forensic accounting on fraud detection and prevention..............................9
1.5 Developing a framework / model for forensic accounting........................................11
1.6 Current trend in Sri Lanka.........................................................................................12
Conclusion................................................................................................................................14
References................................................................................................................................15

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Introduction
In the current emerging accounting and economics scenario, forensic accounting has
become an essential tool for revealing or examine the financial crime and for the related
justice, providing the fact related to the financial fraud. Forensic accounting is a fast growing
part of the accounting practice in the today’s scenario especially in the accounting practice,
education and certification as well as in research and publication (Ozili, 2015). The
increasing demand for the forensic accounting is one of the common characteristic of the
many organization. This is arises due to the effect and cause of fraud and technical error
performed by human in the performing the accounting practices. In is a newly developed
concept in the accounting but the companies, banks, financial institution, even the police
rapidly demanding for the forensic accounting as well as taking its help to solve the various
accounting disputes (Olaoye, Ogundipe & Dada, 2018). The growing importance of forensic
accounting motivates exploring forensic nature as well as fraud accounting investigation,
scholarly and practical.
Forensic accounting is a special branch of the accounting, which investigates frauds in
the financial information that can be used in the legal proceedings. It is a mix process of
judicious, accounting, auditing and investigative skills, which perform investigation of frauds
in financial practice and information (Wang & Crumbley, 2016). As per the Arokiasamy and
Cristal, “Forensic accounting is the application of financial skills and investigative mentality
to unsettled issues, conducted within the context of the rules of evidence.” In 1987, Bologna
and Lindquistn, explained the forensic accounting as the process of developing the fraud
information, financial expertise along with the understanding of the reality of the business as
well as the working legal system (Enofe, Ekpulu & Ajala, 2015). Williams, states “forensic
accounting is recognised as having a particular form of professional expertise and endowed
with identifiable attributes among which are rationality, neutrality and independence.” In the

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basis of the Journal of Forensic Accounting, “Forensic accounting is sufficiently through and
complete so that an accountant, in his/her considered independent professional judgement,
can deliver a finding as to account, inventories, or the presentation thereof that is of such
quality that it would be sustainable in some adversarial legal proceeding, or within some
judicial or administrative review.”
1.0 Literature review
1.1 Impact of gender difference on frauds and forensic accounting practices
Research have studied the issues related to gender parity in the accounting
industry is present from than 20 years. Study also found the various issues in retention
and promotion of the female. The 2012, AICPA’s result of issues of women in
accounting study are very similar to the result of the research conducted in the 1993.
The result and findings of both the study shows that a minor percentage of the women
hired in the public accounting firm (Adebisi & Gbegi, 2015). As per the AICPA study
related to professional staff conducted in 2012, reveals that the firm with the
employees of 10 – 49 consist the 21 % of women workforce, firm with the employee
strength of 50 to 200 have 40 % of the women employees and the firm with the
employee strength of more than 200 consist the 33 % of women employee. Lastly, the
study found the companies with more than 200 employees have 17 % of female as the
partner.
There are various program related to the women’s initiative started becoming
famous in early 1990s yet, the percentage of the female employee as well as the
partner in the accounting professional and practices has not increased in the last two
decades. Apart from that, various other initiative also have implemented to assist the
women to report the progression in terms of leadership position.