Index

Accounting and Auditing Enforcement Release (AAER), 81–82

sample of, 82–85

Adelphia Communications Corporation, 99

Alternative Dispute Resolution (ADRs), 94–95

American Accounting Association (AAA), 3, 43, 46, 68

operating manual, 38–39

American Board of Forensic Accounting, 68

American Institute of Certified Public Accountants (AICPA), 33, 44, 45

Board of Examiners, 57

Code of Professional Conduct, 61, 67

nonauthoritative guidelines, 68–69

American Therapeutic Corporation, 16

Analytical skill sets, 34–36

Antifraud procedures, 103

Antifraud programs, 116

Appeal, 94

Association of Certified Fraud Examiners (ACFE), 3, 61

Association of Chartered Certified Forensic Accountants. See International Institute of Certified Forensic Accountants

AU-C Section 240, 68

Auditing and Attestation (AUD), 57, 58

 

Behavioral sciences, 117

Big Data, 35, 109. See also Analytical skill sets

Business Environment and Concepts (BEC), 57, 58

Business valuation, 30–31

 

Certified Fraud Examiner (CFE), 3, 48, 58

Certified Government Financial Managers (CGFM), 48

Certified Internal Auditor (CIA), 48, 59

Certified management accountants (CMA), 48

Certified public accountants (CPAs), 20

Chartered accountants (CA), 48

Chartered Professional Accountants (CFA), 68

Circle of Conflict, 33

Civil litigation processes, 92

alternatives to litigation, 94–95

appeal, 94

discovery, 93

pleadings, 92

trial, 93–94

Code of ethics, for forensic accountant, 69–73

Committee of Sponsoring Organizations (COSO), 5, 32

Confidential Information Memorandum (CIM), 32

Continuing professional education (CPE), 59–60

related literature, 60

Control environment, 103

Conventional accounting, 18

Corporate culture, 103

Corporate Integrity Agreement, 98

Court systems, 66

Criminal proceedings, 95

Criminalistics, 21

Cross-examination, 93–94

 

Data analytics. See Analytical skill sets

Daubert vs. Merrell Dow Pharmaceuticals, Inc., 28–29

Deloitte, 7

Department of Justice (DoJ), 61, 73

Department of Labor (DOL), 61

Digital forensics. See Analytical skill sets

Digital forensics, 21

Direct examination, 93

Discovery, 93

Dispute resolution, 33

Divorce litigation, 31

Dodd-Frank Act (DFA). See also Financial Reform and Consumer Protection Act of 2010

provisions of, 79–80

Drug offenses, 95

Due care principle, 67

 

Economic damage, 31–32

Enron, 99

Enterprise Risk Management (ERM), 32

Ernst & Young (EY), 7, 35

Ethics, 69

Expert witnesses, 28

court cases, 29

External auditing, 19

 

FAR (Financial Accounting and Reporting), 57, 58

Federal Bureau of Investigation (FBI), 15

Federal courts, 67

Federal, state, and local taxing authorities, 61

Financial Accounting Standards Board (FASB), 20

Financial Forensics Institute (FFI), 44, 47

Financial Reform and Consumer Protection Act of 2010, 78–80

Financial Reporting Fraud (FRF), 97

Financial Statement Fraud (FSF), 2, 95

timeline for, 86

Foreign Corrupt Practices Act (FCPA), 73

Forensic accounting

guidelines and standards

action items, 87

conclusion, 87

introduction, 65–66

regulations relevant to, 73–86

standards and authoritative guidance for, 66–73

introduction, 1–2

by accounting firms, 8–14

action items, 22

books, 4–5

careers, 6–7

conclusion, 21–22

with conversional accounting and auditing, 17–21

definition of, 2–5

status of, 5–17

modules for, 121

practices, and education and research

action items, 124

best practices, 101–103

conclusion, 124

education, 111–123

fraud-related cases, 97–101

fraud standards and practices, 95–97

introduction, 91

research, 103–111

structure of legal system, 91–95

profession

action items, 62–63

conclusion, 62

initiatives to promote, 44–47

introduction, 43

professional certifications in, 48–62

services and skills, 26–27

action items, 40

business valuation, 30–31

conclusion, 39–40

dispute resolution, 33

expert testimony and witnesses, 28–29

forensic risk assessment and management, 32

fraud investigation, 29–30

introduction, 25

litigation and expert consulting, 27–28

other nonfraud forensic accounting services, 31–32

skill sets of, 33–39

topics, 122–123

Forensic Accounting: Litigation Support and Expert Witnessing, 34

Forensic and investigative accounting, 17

Fraud

definition of, 3

forensic accounting, 19

forensic and investigation practices, 19

investigation, 29–30

Magazine CPE Service, 60

risk factors, 96

Fraud Examination and Computer Forensics and IT Auditing, 34

Fraudulent financial reporting (FSF), 31

The French Bank Societe Generale, 100

 

Global business, 32

Government Accountability Office (GAO), 61

 

Health Care Fraud and Abuse Control Program, 98

HealthSouth Corporation, 100

Hedge–Fund Fraud, 100

House Financial Services Committee Chairman Barney Frank (D-MA), 79

 

Information technology (IT). See Analytical skill sets

Institute for Fraud Prevention (IFP), 46

Integrity principle, 67

Internal auditing, 19

Internal control over financial reporting (ICFR), 75

Internal Revenue Service (IRS), 97

International Association of Consultants Valuators and Analysis (IACVA), 46

International Forensic Accounting Association (IFAA), 44, 46, 68

International Institute of Certified Forensic Accountants (IICFA), 45, 68

International Standard on Auditing (ISA) No. 240 entitled, 95, 96

International Trends in Forensic and Valuations Services, 35

Investigative and Forensic Accounting (IFA), 69

 

Journal of Accounting Research, 109

Journal of Auditing, 109

 

KPMG, 7

The Kumho Tire Co. vs. Carmichael decision. Daubert vs. Merrell, 29

 

Legal system, structure of, 91–92

civil litigation processes, 92

alternatives to litigation, 94–95

appeal, 94

discovery, 93

pleadings, 92

trial, 93–94

criminal proceedings, 95

Litigation consultants, 27

AICPA guidelines on, 28

 

MADDOFF, 100

MC’Afee Inc., 100

Mediator, 33

Mergers and acquisitions (M&A), 32

Moore, Christopher W., 33

 

National Association of Certified Valuation Analysts’ (NACVA), 44, 46, 65

National Association of Forensic Accountants (NAFA), 45, 47

Nonfraud forensic and investigation practices, 19

 

Objectivity and Independence principle, 67–68

Olympus, 101

 

Parmalat, 101

Pleadings, 92

PricewaterhouseCoopers (PwC), 7

Prisoner petitions, 92

Professional certifications

continuing professional education, 59–60

education, 48, 57

examination, 57–59

experience, 59

in forensic accounting, 49–57

implications for, 61–62

professional ethics, 61

Professional Code of Conduct, 67

Professional ethics, 61

Public Company Accounting Oversight Board (PCAOB), 20, 61

Public interest principle, 67

 

QWEST communications international, 99

 

Raj Rajaratnam, 16

Reebok, 99

REG (Regulation), 57, 58

Risk of material misstatement (RMM), 96

 

Sarbanes-Oxley Act of 2002 (SOX), 5, 74–78

fundamental objective of, 77–78

primary focus of, 76

provisions of, 78

Satyam, 101

Scope and Nature of work principle, 67

Securities and Exchange Commission (SEC), 3, 61

Securities Exchange Act of 1934, 80–86

Semi-structured data, 35

Senate Banking Committee Chairman Christopher Dodd (D-CT), 79

Soft skill sets, 36–39

State trial courts, 66–67

Statement on Auditing Standards (SAS) No. 99 entitled, 95, 96

Statement on Standards for Forensic Services No. 1 (SSFS 1), 45

Structured data, 35

 

Technical skill sets, 33–34

Tip of the iceberg, 116

Trial, 93–94

TYCO International Ltd, 100

 

UBS, 99

Unstructured data, 35

U.S Supreme Court, 67

 

Violent crime, 95

Voirdire, 93

 

White-collar crimes, 31, 95