Forensic Accounting and Financial Statement Fraud, Volume II

CHAPTER 4

Challenges and Opportunities in Forensic Accounting

Executive Summary

High-quality financial information is the lifeblood of capital markets, and that lifeblood can be adversely affected by the existence and persistence of financial statement fraud (FSF). Forensic accounting has made impressive progress in the past two decades in the aftermath of financial scandals at the turn of the twenty-first century and the 2007 to 2009 global financial crisis. Forensic accounting has moved to the center stage of accounting as the most challenging, exciting, and rewarding field of accounting. This chapter presents emerging issues in forensic accounting in the areas of litigation consulting, expert witnessing, valuation, and fraud investigation. ...