The Role of Forensic Accounting in Combating Financial Crimes Resulting From Accounting Estimates

Saddam Catea Hashim

doi:10.61132/ijema.v1i3.215

Authors

Saddam Catea Hashim Al- Nahrain University, Baghdad

DOI:

https://doi.org/10.61132/ijema.v1i3.215

Keywords:

Accounting Judicial, crimes Finance Estimates Accounting, accounting estimates

Abstract

Forensic accounting plays a vital role in combating financial crimes resulting from accounting estimates, as it combines specialized knowledge in accounting with forensic investigative skills to analyze financial statements and uncover manipulations.and The research aims to explore how forensic accounting affects the identification of financial crimes related to accounting estimatesThe most important conclusions of the research were : Forensic accounting plays a vital role in discovering financial manipulations and frauds associated with accounting estimates. Through careful examination and forensic analysis of financial statements, forensic accountants are able to detect any manipulation of numbers or exaggeration of profits or losses. andThe most important recommendations include examining the necessity of implementing strict internal control procedures that include reviewing accounting estimates regularly, using forensic accounting methods. This would reduce the chances of financial manipulation and fraud, and this research contributes to clarifyingThe role of forensic accounting in detecting financial crimes related to estimatesAccounting.And improvement transparencyAnd the accuracy of financial reports by examining estimatesAccounting.andDevelop effective financial investigation strategies to combat illegal financial activities.

Downloads

Download data is not yet available.

References

Federal Office of Financial Supervision. (2022). Annual report. Baghdad: Federal Financial Supervision Bureau.

Alaa Hussein Alwan Al-Shafi’i. (December, 2020). The role of internal audit in reducing administrative and financial corruption, an applied study in the General Authority for Taxes. Al-Reyadah Journal of Finance and Business, 1(2), pp. 60-72.

Federal Integrity Commission. (2023). Annual report. Baghdad: Federal Integrity Commission.

Albrecht, W. S., Albrecht, C. C., & Albrecht, C. O. (2008). Fraud Examination. Cengage Learning. ISBN: 9780324377668.

Albrecht, W. S., Albrecht, C. O., Albrecht, C. C., & Zimbelman, M. F. (2016). Fraud Examination. Cengage Learning. ISBN: 9781337619670.

Alles, M. G. (2015). Drivers of the Use and Facilitators and Obstacles of the Evolution of Big Data by the Audit Profession. Accounting Horizons, 29(2), 439-449. DOI: 10.2308/acch-51067.

Bologna, J. G., & Lindquist, R. J. (1995). Fraud Auditing and Forensic Accounting: New Tools and Techniques. John Wiley & Sons. ISBN: 9780471575257.

Brazel, J. F., Jones, K. L., & Zimbelman, M. F. (2009). Using Nonfinancial Measures to Assess Fraud Risk. Journal of Accounting Research, 47(5), 1135-1166. DOI: 10.1111/j.1475-679X.2009.00350.x.

Carnes, K. C., & Gierlasinski, N. J. (2001). Forensic Accounting Skills: Will Supply Finally Catch Up to Demand?. Managerial Auditing Journal, 16(6), 378-382. DOI: 10.1108/02686900110395514.

Central Bank of Iraq. (2021). Annual Report. Baghdad: Central Bank of Iraq. Retrieved from https://cbi.iq/

Coderre, D. (2009). Computer-Aided Fraud Prevention and Detection: A Step-by-Step Guide. John Wiley & Sons. DOI: 10.1002/9781118258040.

Crumbley, D. L., Heitger, L. E., & Smith, G. S. (2017). Forensic and Investigative Accounting. CCH Incorporated. ISBN: 9780808044544.

Dechow, P. M., Ge, W., & Schrand, C. M. (2010). Understanding quality earnings: A review of the proxies, their determinants and their consequences. Journal of Accounting and Economics, 50(2-3), 344-401. DOI: 10.1016/j.jacceco.2010.09.001.

Golden, T. W., Skalak, S. L., & Clayton, M. M. (2006). A Guide to Forensic Accounting Investigation. John Wiley & Sons. ISBN: 9780471788732

Hopwood, W. S., Leiner, J. J., & Young, G. R. (2012). Forensic Accounting and Fraud Examination. McGraw-Hill Education. ISBN: 9780078136665.

Integrity Commission of Iraq. (2021). Annual Report on Anti-Corruption Efforts. Baghdad: Integrity Commission of Iraq. Retrieved from https://nazaha.iq/

Iraqi Federal Board of Supreme Audit. (2020). Annual Report on Public Financial Management. Baghdad: Iraqi Federal Board of Supreme Audit. Retrieved from http://www.fbsa.gov.iq/

Iraqi Legal Database. (1992). Law on Auditing No. 19 of 1992. Baghdad: Iraqi Legal Database. Retrieved from http://www.iraqld.iq/

Iraqi Legal Database. (1997). Company Law No. 21 of 1997 (Amendments included). Baghdad: Iraqi Legal Database. Retrieved from http://www.iraqld.iq/

Iraqi Legal Database. (2015). Anti-Money Laundering and Counter-Terrorism Financing Law No. 39 of 2015. Baghdad: Iraqi Legal Database. Retrieved from http://www.iraqld.iq/

Kothari, A., & Lester, W. (2020). The Wirecard Scandal: How Germany's Fintech Star Faced a Billion-Euro Fraud. Financial Times.

Munter, P. (2021). Lessons from the Wirecard Fraud: Implications for Auditors and Financial Professionals. Journal of Accountancy. DOI: 10.2308/jofa-2020-060.

Penman, S. H. (2013). Financial Statement Analysis and Security Valuation. McGraw-Hill Education. ISBN: 9780078025310.

Ramaswamy, V. (2005). Corporate Governance and the Forensic Accountant. The CPA Journal, 75(3), 68-70.

Rezaee, Z. (2002). Forensic Accounting Practices: Education and Certification. Journal of Forensic Accounting, 3(1), 207-226.

Skoda, M. (2017). Accounting Estimates and Their Importance in Financial Reporting. Journal of Accounting and Economics, 63(1), 79-90. DOI: 10.1016/j.jacceco.2017.10.005.

Wells, J. T. (2013). Principles of Fraud Examination. John Wiley & Sons. ISBN: 9781118922347.

Zysman, A. (2001). Forensic Accounting Demystified. Canadian Institute of Chartered Accountants, 11(3), 1-10.