The role of forensic accounting expertise in the modern world

THE ROLE OF FORENSIC ACCOUNTING EXPERTISE IN THE MODERN WORLD

ABSTRACT

This literary review analyzes the views of various authors on the role of forensic accounting expertise in the modern world.

Keywords: forensic accounting expertise, special knowledge, accounting expert.

INTRODUCTION

The relevance of this topic is due to the fact that in the modern world there is a significant increase in various economic crimes, including fraud, tax evasion, financial fraud [2,3]. Investigation of offenses committed in the sphere of economic activity is impossible without the use of special economic knowledge necessary to establish certain circumstances to be proved. One of the forms of application of special economic knowledge in the disclosure of offenses is the appointment of a forensic accounting.

THE RESULTS

 According to one of the articles studied [2], forensic accounting expertise is a process involving the use by an expert of special knowledge and skills in the field of accounting and auditing in order to resolve controversial issues that are necessary for the correct decision of the case by the court. And the main purpose of forensic accounting expertise is to determine whether there are distortions in the company's financial statements. Accounting experts analyze financial documentation, assess assets and liabilities, determine the financial position of the company and provide recommendations to the court or interested parties regarding financial decisions.

The following article [3] says that large corporations often have a forensic accounting department. Organizations hire expert accountants to ensure the accuracy and reliability of financial information, which is important for attracting investors, compliance with legislation and optimization of management decisions. Accounting experts can also advise the company on financial management issues, help in planning tax strategies and minimizing risks.

The author of the following article [4] also noted that expert accountants are often hired to prepare for litigation related to insurance claims, insolvency, embezzlement, fraud and any kind of financial theft.

The result of the forensic accounting examination is the conclusion of an expert accountant, which is a motivated answer to the questions posed on the basis of special knowledge as a result of a comprehensive and objective study of the materials submitted by the court. It was found that a qualitative expert opinion is the basis for making reasonable and fair decisions in the legal system, since it is evidence in the case and provides valuable information based on the analysis of facts, data and expert knowledge [1].

CONCLUSION

Thus, the authors of the articles under study tend to believe that the main role of forensic accounting expertise in the modern world is to ensure justice and provide objective information to the court and the parties to the case for making decisions on financial and accounting issues. Forensic accountants performing this examination analyze financial data, documents and records to reveal the facts of the true state of the case. Their goal is to present an independent opinion and provide the judicial process with reliable information necessary for making informed decisions. Experts work on the basis of professional standards and techniques to ensure the reliability and objectivity of their conclusions.