White Collar Crime
Global Journal of Finance and Management ISSN 0975 - 6477 Volume 3, Number 1 (2011), pp. 69-76 © Research India Publications http://www.ripublication.com/gjfm.htm
Forensic Accounting: A Tool of Detecting White Collar Crimes in Corporate World
R.B. Sharma1 and Alaa Mohamad Maloain2 Assistant Professor, 2Assistant Professor & Supervisor Dept. of Accounting, College of Business Administration Al-Kharj University, Al-Kharj, Kingdom of Saudi Arabia Abstract Forensic accounting investigates financial information for the purpose of conveying complicated issue in a manner that other can easily understand. 'Forensic Accounting ' approach has a vital role to play in bringing down the degree of such adverse happenings in the corporate sector. It includes enforcement of laws, court litigation and disputes, etc. The issue of whitecollar crime was first addressed by Edwin H. Sutherland during his presidential address at a meeting of American Sociological Society way back in 1939. It is a widespread fact that the corporate crime has been inflicting far greater damage on society compared to all street crimes combined. In the American context, it has been estimated that losses from such crime may be as high as 200 billion dollars every year. To sum up, ‘forensic accounting’ is a very constrictive tool for detecting white collar crimes in the present eaccounting era. For high level of super success of forensic accounting needs to develop fraud schemes, investigation techniques, and the law to fulfill the expectations of clients. Keyword: Forensic Accounting, White Caller Crime.
1
Introduction
‘Forensic’ means relating to the legal matters i.e. law enforcement, court litigation, legal disputes, and so on. Forensic accounting is white collar crimes detective tool that are used by law enforcement and intelligence agencies to uncover, track and document terrorist activities. It is a widespread fact that the corporate crime has been inflicting far greater damage on society
Forensic Accounting: A Tool of Detecting White Collar Crimes in Corporate World
R.B. Sharma1 and Alaa Mohamad Maloain2 Assistant Professor, 2Assistant Professor & Supervisor Dept. of Accounting, College of Business Administration Al-Kharj University, Al-Kharj, Kingdom of Saudi Arabia Abstract Forensic accounting investigates financial information for the purpose of conveying complicated issue in a manner that other can easily understand. 'Forensic Accounting ' approach has a vital role to play in bringing down the degree of such adverse happenings in the corporate sector. It includes enforcement of laws, court litigation and disputes, etc. The issue of whitecollar crime was first addressed by Edwin H. Sutherland during his presidential address at a meeting of American Sociological Society way back in 1939. It is a widespread fact that the corporate crime has been inflicting far greater damage on society compared to all street crimes combined. In the American context, it has been estimated that losses from such crime may be as high as 200 billion dollars every year. To sum up, ‘forensic accounting’ is a very constrictive tool for detecting white collar crimes in the present eaccounting era. For high level of super success of forensic accounting needs to develop fraud schemes, investigation techniques, and the law to fulfill the expectations of clients. Keyword: Forensic Accounting, White Caller Crime.
1
Introduction
‘Forensic’ means relating to the legal matters i.e. law enforcement, court litigation, legal disputes, and so on. Forensic accounting is white collar crimes detective tool that are used by law enforcement and intelligence agencies to uncover, track and document terrorist activities. It is a widespread fact that the corporate crime has been inflicting far greater damage on society
References: [1] Sudhakar V. Balachandran(2009),The Satyam Scandal : Corporate Governance, EST. [2] APES 215 (2008), "Forensic Accounting Services", Accounting Professional and Ethical Standard Board, USA. [3] APS 11(2002), The institute of Chartered Accountants in Australia (ICAA). [4] Ken Neumann and Mary O’Connor (2008), "The Forensic Accountant’s Evolving Role", CPA Insider. [5] Owojori, A.A, T. O. Asaolu (2009), "The Role of Forensic Accounting in Solving the Vexed Problem of Corporate World", European Journal of Scientific Research, ISSN 1450-216X Vol.29 No.2 (2009), pp.183-187 [6] Chris McKittrick (2009), Forensic Accounting : It’s Broader Than You Might Think And It Can Help Your Organization, The McKittrick Report, Issue (1). [7] Russell Mokhibe (2007), Corporate Crime Reporter to the Taming the Giant Corporation conference in Washington, D.C. 76 R.B. Sharma and Alaa Mohamad Maloain [8] Cynthia Barnett (1999), "The Measurement of White-Collar Crime Using Uniform Crime Reporting (UCR) Data" U.S. Department of Justice, Federal Bureau of Investigation, Criminal Justice Information Services (CJIS) Division. [9] Daunt, J. (2002): Modern Auditing Methods. http://www.articles corporate findlaw.com. [10] Owojori, A.A, T. O. Asaolu (2009), "The Role of Forensic Accounting in Solving the Vexed Problem of Corporate World", European Journal of Scientific Research, ISSN 1450-216X Vol.29 No.2,pp.188-192 [11] Wallace, A. (1991): The Role of The Forensic Accountant, http://www.eurojournals.com. [12] Shantanu Jugatwat, White-collar crimes – A bird’s eye view, Student, 4th year, National Law Institute University, Bhopal . (www.nliu.com).