Forensic accounting: a blend of knowledge

Abstract

Purpose The purpose of this paper is to develop an insight into the skill sets that forensic accounting practitioners need to possess to succeed in the practice of forensic accounting. Design/methodology/approach The present paper is based on a literature review. Findings Forensic accounting education is multi-disciplinary. It encompasses auditing, accounting, statistics, information technology (IT), legal rules and human skills. It is similar to auditing, yet different. Hands-on statistical tools act like an additional equipment for quick delivery of the output when data are large. Proficiency in using IT tools is a must to detect cybercrimes. Human skills are gaining importance because of social engineering attacks. Forensic accountants must be acquainted and updated with the relevant laws. Various investigative skills and knowledge are also essential in forensic accounting. Practical implications Forensic accounting education can be developed as a separate discipline for proper regulation of forensic accounting profession. In that case, the need for development of separate forensic accounting standards may arise. This issue needs to be dwelt upon by the academia and professional bodies. Originality/value The paper will enable the universities/institutes to design the appropriate curricula, assigning due consideration to the required knowledge and skill sets in forensic accounting education.