Define Forensic Accounting and discuss the history of the development of Forensic Accounting in the United States of America.

Q: What are the ethical and professional expectations for CPA's by the accounting prefession?

A: Auditors work on behalf of shareholders and various other stakeholders; whereas, they are required…

Q: Explain the job description of a “forensic accountant”

A: Forensic Accounting: To perform an investigation into the finances of a person or firm, forensic…

Q: Please list and describe all of the issues that concern accountants and auditors regarding potential…

A: Concerns regarding accountants' and auditors' legal liability are growing by the day. Accountants…

Q: Characteristics and Skills of the Forensic Accountant

A: The accountants having the responsibility to determine the money or cash missing and to check the…

Q: What are the key principles and methodologies behind forensic accounting, and how do forensic…

A: Forensic accountantsForensic accountants are the people who will analyse the financial data to…

Q: Describe the audit documentation review process in a public accounting firm.

A:

Q: Which of the following statements best explains why public accounting, as a profession, promulgates…

A: The public  accounting promotes  the  ethical  standards  and  it will setup means in order to…

Q: What type of knowledge, skills and abilities are required for a forensic accountant? Explain briefly

A: SOLUTION- FORENSIC ACCOUNTING SKILLS - IT ENABLE AN ACCOUNTANT TO GATHER EVIDENCE OF FRAUD AND OTHER…

Q: Discussion Topic: What is Fraud? Forensic accountants and fraud examiners provide support for…

A: Fraud is a big problem in accounting and many companies in past have gone down because they indulged…

Q: Describe the FASB's rules or standard on revenue recognition.  Where do we find the FASB's revenue…

A: Accounting standards are developed by FASB (Financial Accounting Standard Board). These standards…

Q: Define fraud examination and describe various engagements performed by fraud examiners.

A: Although the investigation of fraud shares some attributes with forensic, it is not the same…

Q: at are three factors that have increased the importance of obtaining an understanding of a client's…

A: Auditors must have a thorough awareness of the client's industry-specific practices, competitive…

Q: Critically explain the key features of the Sarbanes-Oxley Act 2002 which aims at protectinginvestors…

A: The Sarbanes-Oxley Act of 2002 (SOX) was enacted in the United States in response to a series of…

Q: In 1986, the AICPA broke forensic accounting into two broad areas: Damages and taxation.…

A: Forensic Accounting: Accounting and investigation methods are used in forensic accounting, which is…

Q: What is the nature of, and concepts relevant to, civil, criminal and administrative procedure and…

A: Forensic accounting is a specialized field of accounting that combines financial expertise with…

Q: One of an accounting firm’s basic objectives is to provide professional services that conform to…

A: Definition: Quality control: Quality control is a set of guidelines that helps in ensuring that the…

Q: Write a short note on "Accounting Frauds"

A: Accounting fraud is the deliberate manipulation of financial accounts to provide the impression that…

Q: Why do you think "independence" is the foremost quality that a forensic accountant must possess?

A: Accounting:   The process to record, classify, summarize organization transactions in a systematic…

Q: Question: In accounting, which type of audit is conducted by an independent firm or organization…

A: The financial audit or review of financial statements is typically referred to as an audit. An…

Q: What standards do Forensic Accountants follow and why?

A: The accounting professionals who use accounting knowledge and investigation skills for settlement of…

Q: What is the importance of Ethics for the Accounting

A: Ethics can be defined as a set of moral principles existing in a society that allows differentiating…

Q: Briefly explain the ethical rules to be followed by an auditor in handling client’s money.

A: Introduction: The client money audit report focuses on the procedures and controls that a business…

Q: What was evolutionary about laws such as GLBA and FACTA?

A: It is taken regular care by the consumer protection authorities to protect the interest of…

Q: How would you define what you do as a forensic accountant?

A: Forensic Accountant are the professionals which performs the accounting tasks by the art of research…

Q: audit of accounting information system

A: Auditing means checking the elements of financial statements to ensure that they show the true…

Q: You've just completed an audit of receivables. What are your impressions of the findings? How…

A: Amounts of money in the bank: The term "cash equivalents" refers to current assets that can be…

Q: When it comes to cases involving compilation and review services, what extra defenses are available…

A: Engagement in the compilation: Compilation engagements are when an accountant assists management…

Q: What does the future of audit look like?   Critically discuss this question from the perspective…

A: Answer:- a Future of audit from the perspective of The UK Government:- When big companies failed,…

Q: a) What is the role and character of forensic accounting and its relationship to the legal system…

A: Forensic accounting is a specialized field within accounting that combines financial expertise with…

Q: Give an explanation of the legal foundation for suing a CPA. What defenses does the auditor have to…

A: Since auditors are responsible for ensuring that financial statements are honest and fair, they must…

Q: Describe the organization of public accounting firms and the composition of the audit teams

A: Public accounting firms: Public accounting firms are service organizations providing specialized…

Q: what is the most important thing that a Forensic Accountant or Auditor does?

A: Forensic audit or accountant perform an financial records examination in order to find any financial…

Q: Other than technical knowledge of accounting standards, etc., what other skills are critical for…

A: There are many skills critical for forensic accounting and fraud examinations

Q: From the Auditor's point of view, what is your recommendations and solution about Enron's Accounting…

A: Auditor is the person who checks the financial statements of the company to determine and give…

Q: n assessing whether to accept a client for an audit engagement, an auditor should consider the:

A: The objective of the auditor is to accept an audit engagement for a new or existing audit client…

Q: Please identify and describe what does forensic accountants do.

A: To become a forensic accountant, one should know about investigations, accounting, and auditing. The…

Q: **Objective Question:** Which set of standards governs the conduct of audits performed by certified…

A: This objective question pertains to the standards that regulate the conduct of audits carried out by…

Q: observers of the accounting profession suggest that many courts attempt to "socialize" investment…

A: The objective of the question is to discuss the implications of 'socializing' investment losses by…

Q: What are the common challenges faced by accountants and auditors while performing their duties?…

A: Accounting is the process of recording the transaction and preparing the financial statements.…