Role of Forensic Accounting in Fraud Detection in Retail Organizations in Australia

This research aims to understand the role of forensic accounting in fraud detection and analyse ways in which forensic accounting contributes to analysis of frauds in retail organizations in Australia. The study will adopt an exploratory research design with a mixed-methods approach, including quantitative and qualitative research. Data will be collected through interviews, focus groups, observations, surveys, and experiments. The study will use random stratified sampling and ethical procedures. The reference list includes sources on accounting information systems, internal control design, fraud auditing, and forensic accounting.

Research Project title
Your name
Student Number
BUS707 Applied Business Research

Introduction to the research
• Forensic Accounting has capability to detect frauds in
financial accounting for financial data and information
representation.
• The scholar will aim at collecting data from across retail
organizations in Australia specifically Sydney.
• The problem that is evaluated in this study is analysing ways
I n which forensic accounting can help detection of frauds.
• The study will analyse research question, post which a
literature will be developed and research methodology will
be ascertained to arrive at findings relative to the study.

Research Problem & Research Objectives
Research Problem:
Rising frauds across organizations in Australia concerned with financial
information that are furnished to investors and other users of financial
information.
Research Objectives :
1. To understand the role of forensic accounting in fraud detection
2. To analyse ways in which forensic accounting contributes to analysis of
frauds

Literature Review
• Theories of financial accounting relative to internal
control mechanism is undertaken. Other control
theories that can help prevent financial fraud are
examined by means of application of IFRS
standards.
• Control theories and IFRS standards are scientific
procedures which in case followed diligently can
help prevent cases of fraud.

Research Design & Methodology
• Exploratory research design that evaluates various theories
and concepts pertaining to accounting internal control
systems is evaluated.
• The study will accommodate research approach of mixed
methods, including quantitative and qualitative approach.
• The study will aim at collecting data of primary as well
secondary nature.
• Data for the study will be collected through various
methods by including interview, focus group or observation
for qualitative research, and/or survey and experiment for
quantitative research.

Research Design & Methodology
(cont)
• Random stratified sampling procedure will be used for the
purpose of this study. Samples will be employees form
various retail organization in Australia, such as Coles,
Wesfarmers, Woolworth and so on.
• Qualitative data will be analysed using descriptive
techniques, whereas quantitative data will be analysed
using statistical procedure such as correlation and
regression.
• The methodology will adopt ethical procedures and not
adopt any ways in which ethics is hindered.

Ethical considerations
Stakeholders involved in the process of the
study will not be affected in a negative
manner from this study.

Reference List
• Bodnar, G.H. and Hopwood, W.S., 2012. Accounting information systems.
Upper Saddle River: Pearson.
• Carroll, A. andBuchholtz, A., 2014. Business and society: Ethics, sustainability,
and stakeholder management. Nelson Education.
• Ewa, E. U., and Udoayang, J. O., 2017. The Impact of Internal Control Design
on Banks‟ Ability to Investigate Staff Fraud, and Life Style and Fraud
Detection in Nigeria. International Journal of Research in Economics & Social
Sciences, 2(2), pp. 32-43.
• Dorminey, J.W., Fleming, A.S., Kranacher, M.J. and Riley Jr, R.A., 2010. Beyond
the fraud triangle. The CPA Journal, 80(7), p.17.
• Gill, J. and Johnson, P., 2010. Research methods for managers. Sage.
• Gliner, J.A., Morgan, G.A. and Leech, N.L., 2011. Research methods in applied
settings: An integrated approach to design and analysis. Routledge.
• Hennink, M., Hutter, I. and Bailey, A., 2010. Qualitative research methods.
Sage.

Reference List
• Hunton, J.E., Hoitash, R. and Thibodeau, J.C., 2011. Retracted: the relationship
between perceived tone at the top and earnings quality. Contemporary
Accounting Research, 28(4), pp.1190-1224.
• Jones, M. ed., 2011. Creative accounting, fraud and international accounting
scandals. John Wiley & Sons.
• Nigrini, M., 2017. Benford's Law: Applications for forensic accounting, auditing,
and fraud detection (Vol. 586). John Wiley & Sons.
• Pedneault, S., Silverstone, H., Rudewicz, F. and Sheetz, M., 2014. Forensic
accounting and fraud investigation for non-experts. John Wiley & Sons.
• Punch, K.F. and Oancea, A., 2014. Introduction to research methods in education.
Sage.
• Singleton, T. W., and Singleton, A. J., 2017. Fraud auditing and forensic
accounting (Vol. 11). John Wiley & Sons.
• Yvonne Feilzer, M., 2010. Doing mixed methods research pragmatically:
Implications for the rediscovery of pragmatism as a research paradigm. Journal
of mixed methods research, 4(1), pp.6-16.