Working in a Forensic Team

WORKIGN IN A FORENSIC
TEAM

TABLE OF CONTENTS
SECTION 1.....................................................................................................................................3
i Internal Auditor.........................................................................................................................3
ii. Forensic accountants with external auditors............................................................................3
iii. Objectives of internal auditors in forensic investigation........................................................3
iv. Role of forensic accounting investigators..............................................................................3
SECTION 2.....................................................................................................................................4
Forensic accountants with lawyers..............................................................................................4
SECTION 3.....................................................................................................................................4
Importance of privacy and measures that can be taken...............................................................4
REFERENCES................................................................................................................................6

SECTION 1
i Internal Auditor
An internal auditor is mainly tasked with the responsibility of covering and monitoring all
the day to day activities being performed at the business and verifies the authenticity of the
transactions that are being performed. The company and the systems that are working, the
transactions that are taking place, process of noting and recording errors etc. is also under the
purview of the internal auditor (Nigrini, 2020). They obtain all the relevant background
information related to the people, process and systems of the organisation and then analyse these
so that they can act as internal advisers and consultants as well for forensic accountants.
ii. Forensic accountants with external auditors
External auditors act as the key sources of information through which the forensic
accountants can obtain all the relevant information. The external auditors are familiar with the
practices of the organisation and the measures that they are adopting which ultimately is of key
assistance fo the forensic auditors. Also, in order to obtain relevant data, forensic accountants
have to wait for longer time period but meanwhile the external auditors can thoroughly brief
them regarding the practices that are being adopted (Simeunović, Grubor and Ristić, 2016). The
external auditors also evaluate the scope of the forensic accountants and guide them that whether
their work is adequate for the company without involvement of forensic accounting
investigators.
iii. Objectives of internal auditors in forensic investigation
Internal auditors mainly work with the objective of ensuring that the annual audit plan of
the company is completed within the time that has been allotted. The internal auditor works in
collaboration with the management but they also strive to shield or protect the internal audit team
from facing criticism of any kind (Tiwari and Debnath, 2017). Thus there another objective is
also to detect as many wrongdoings as possible while working in the individual capacity as an
internal auditor so that later any fraud recognition does not creates a problematic situation for the
auditors. Overall internal insight that is possessed by the internal auditors and the knowledge of
probable loop holes as well acts as major source of assistance in forensic investigation.
iv. Role of forensic accounting investigators
While working in the forensic team, the forensic accounting investigators are mainly tasked
with the role of identification of the parties that are involved and if there are any co-
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