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Importance of Forensic Accounting in Countries of Business Opacity: A Means to End Fraud
asset misstatement or even fraudulent activities from the financial statements. This
has been the long perception of what an auditor’s responsibilities are. Therefore,

this perception should be regenerated and corrected. Auditors with forensic
accounting background would be allotted as forensic accountants specifically to

investigate the company’s financial statement. These people would be responsible
for detecting financial misstatements. With the proper education given to the public,
this perception of auditors could be enhanced. D

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D. Forensic Accounting in Government and Legislation: C

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Forensic accounting has played a major role in the improvement of detection, P
investigation, and representation of all cases at hand in law courts in judicial T

formalities. If companies wish to utilize information regarding a fraudulent activity I
in a court law, they may acquire the skills of forensic accountant because they can O

handle investigations in a way that is completely acceptable in a court of law. N

Forensic accounting is the specialty practice area of accountancy that describes

engagements resulting from actual or anticipated disputes or litigation. “Forensic”
means “suitable for use in a court of law,” and it is to that standard and potential

outcome that forensic accountants generally have to work. Forensic accountants
often have to give expert evidence at the eventual trial.

Forensic accounting should be part of criminal investigation, for the matters
relating to financial implications where the report of forensic accountants must be

considered as evidence and proof to be presented in court trials.

Countries that established forensic accounting in their legal system, have forensic

accountants who work with law enforcement and the district attorney’s office.
Just as with other types of evidence, the prosecution obtains search warrants to

locate financial information and compel knowledgeable people to conduct or hold
interviews about the situation in question.

Forensic accountants can also provide litigation support. Attorneys engage the
services of forensic accountants to review existing documentation and testimony

and explain their financial significance. A forensic accountant can tell the attorney
about the additional information needed to prove the case and questions to ask the

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