Forensic Accounting Essay

2990 Words Dec 2nd, 2010 12 Pages

Mohd Sarif Ibrahim and Mazni Abdullah
Department of Financial Accounting & Auditing
Faculty of Business and Accountancy, University of Malaya
50603 Kuala Lumpur, Malaysia,


Forensic accounting may not be a new field in accounting. However it becomes so important recently and has been an interest to various stakeholders, from the government, investors, and practitioners to regulatory bodies. Corporate failures like the often cited Enron and WorldCom cases have placed forensic accounting into the limelight. The objective of this study is to present the views of practitioners regarding forensic accounting and its current development in
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Further, the three of the top six accounting niche services fall within the forensic accounting area: business valuations, litigation support and forensic/fraud (Covaleski, 2003). To the knowledge of the authors so far, only one institution of higher learning in Malaysia has offered forensic accounting course at the postgraduate level. This study therefore attempts to seek views from practitioners regarding the development and future prospect of forensic accounting career in Malaysia.

The remainder of this paper is structured as follows. The next section will explain the background of forensic accounting. The third section discusses the research methodology in the study. The forth section presents the findings and followed by the conclusion in the final section.


History of Forensic Accounting
Forensic accounting is certainly not a new field. Evidences showed that the profession has been in existence a long time ago though during that time the profession was not yet being called forensic accounting. In ancient Egypt, forensic accountants who inventoried the Pharaohs’ grain, gold and other assets were called the ‘eyes and ears’ of the Pharaohs. Another evidence of the existence of forensic accounting can be traced back to the year 1817 when the accountant who examined the bankrupt’s account was required to testify in the court case (Crumbly, 2001).

Some sources traced the practice’s origin back as far

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