Abstract

This thesis thoroughly explores fraud and the forensic accounting profession. It details the education, training, and careers of forensic accountants; and why demand for this profession has suddenly spiked. The necessary skills of forensic accountants and why these skills are valuable is explored; a need for better education and training is also proposed. It also details popular forensic accounting methods and how these may be used to detect fraud. This thesis explains several fraud schemes and famous frauds that were contributors to the growing demand of forensic accountants. The fraud triangle and other contributing factors are explored. This thesis also emphasizes the importance of strong internal controls and explains the COSO internal control framework; several important internal controls are listed and explained. Cybersecurity is also explained; including why it has become an absolute necessity and how businesses can better enforce cybersecurity measures. This thesis also explains the changes that were made following the Enron and WorldCom scandals and details the Sarbanes-Oxley Act of 2002. Explanations for the relevant changes and why they were necessary are included. The purpose of this thesis is to demonstrate the importance of forensic accounting and to thoroughly explain the facets of fraud and forensic accounting.

Keywords

accounting, forensic accounting, auditing, fraud

Document Type

Thesis

Year of Completion

2018

Major

Accounting

Advisor

Michael Abatemarco,

Academic Department

School of Professional Accountancy

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