Define Forensic Accounting. Identify an organization that has been (or is currently being) assessed by a...

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Define Forensic Accounting. Identify an organization that hasbeen (or is currently being) assessed by a forensic accountant.Explain the reasoning for why a forensic accountant was brought into the organization. Do you think forensic accountants areimportant? Why/why not?

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At the outset it can be stated that each Forensic Accounting and Fraud examination are associated although different Fraud examiner neednt always be a legitimate accountant like ACA or CPA while the former theyre mainly professionals concerned in the investigations At the same time forensic accounting refers to quite a lot of areas as mentioned hereunder fraud examination is customarily targeted at antifraud related issues Function and importance of Forensic Accounting and fraud examiner Forensic accounting is a legal term Its in its easiest type application of accounting approaches and standards in problems related to legal matters The requirement comes due to high cost of whitecollar crimes like embezzlement fraudulent financials and various different financial incorrect doings The Forensic Accountant is called upon to investigate various fiscal frauds by using the workers purchasers buyers both indepedendetly or in collusion one another and misappropriating the belongings of the manufacturer Forensic Accountants also help the federal government in the enforcement of regulatory requisites Many a bank fraud is original with the collusion of the borrower and financial institution employees and so on Where the capabilities of the Forensic Accountant is available in unfolding the fraud and serving to the corporates nail the fraudsters Forensic Accountants support is needed in fee fixations stock market manipulations and at times even manipulation of the fiscal figures by way of the managements to window dress the steadiness sheet and profit and loss account figures to cover real facts from the stake holders and common public for the funds misused or misappropriated via the top managements To realise higher Forensic Accounting could also be subdivided 4 classes Litigation support 2Investigative and aiding within the disputes 3Frauds Detection and subsequently fourLaptop forensics The litigation aid is offered to the legal profession through giving help of documentary proof to support or rebut a declare Additionally helping in designing See Answer

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