Financial Forensic Evidence and Acceptability in the Court of Law

Abstract

This chapter explores the role of forensic accounting in uncovering evidence for use in courts to litigate and arbitrate on financially related crimes. The chapter differentiates the operation of forensic accountants from external auditors and other accountants. It also provides examples of financial crimes and describes the role of forensic accounting in assisting courts deal with these crimes. Furthermore, the chapter outlines differences between forensic accounting and audit reports as well as discussing the admissibility of forensic accounting evidence in courts. Issues around forensic accounting are articulated. Recommendations include the convergence of all important stakeholders to agree on the appropriate curriculum for forensic accountants as well as guidelines and standards to shape the profession and prevent entry by incompetent and unqualified people. Future research should focus on the current inconsistencies on the profession's education mode of delivery, content, pedagogies, and empirical studies to establish specific skills required by forensic accountants.