Forensic Accountants and The Law

I agree to a certain extent that Forensic Accountants (FA) have to be familiar with the law. FA works closely with the government, industry, and professional regulators, with abundance of rules, regulations and guidelines enforced upon their work (Ozkul & Pamukcu, 2012). The Australian legal profession is regulated on a state and territorial basis (Commission, 2017) and there are many area of specialisation which FA can embark on. To be acquainted in every aspect is too broad for FA thus, I feel that FA should familiarise themselves with the fundamental and only focus in-depth if it’s within their specialty. 

However, being knowledgeable of the rules is one thing but adhering is another. An article I read unveiled the ethics of 9 expert witnesses. When undercover reporters challenged their integrity, only 1 refused the engagement after reporters admitted guilt (Marsden, 2014). Not only did the remaining experts not account their confession in their report, they concluded there were insufficient evidences to determine who the wrongdoer was. According to NSW Ombudsman (2012), public interest refers to considerations affecting the good order of the community, government affairs and citizen’s well-being. Experts who aren’t impartial and independent or are ignorant of the rules will cause detriment to the public interest as they are wasting taxpayers’ money by giving weak evidences and regulators would need to reopen those cases where they provided their reports (Daily Mail, 2007).

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Useful Links

Article:

• Characteristics and Skills of the Forensic Accountant
• How Do Public Interest Considerations Impact On The Role Of Public Sector Lawyers?
• How police put their faith in the 'expert' witness who was a fraud
• When expert witnesses get it wrong

YouTube:

References

Commission, A. L. (2017). 4. Ensuring Professional Integrity: Ethical Obligations and Discovery. Retrieved from Australian Law Reform Commission: https://www.alrc.gov.au/publications/4.%20Ensuring%20Professional%20Integrity%3A%20Ethical%20Obligations%20and%20Discovery/sources-legal-eth

Daily Mail. (22 February, 2007). Bogus 'expert witness' jailed for five year. Retrieved from Daily Mail: http://www.dailymail.co.uk/news/article-437841/Bogus-expert-witness-jailed-years.html

Marsden, S. (9 June, 2014). Expert court witnesses in bias storm: Specialists filmed saying they will give evidence in defence of paying clients even if they have been told they are guilty. Retrieved from Daily Mail: http://www.dailymail.co.uk/news/article-2652433/Expert-court-witnesses-bias-storm-Specialists-filmed-saying-evidence-defence-paying-clients-told-guilty.html

Ombudsman, N. (March, 2012). Public interest. Retrieved from NSW Ombudsman: https://www.ombo.nsw.gov.au/__data/assets/pdf_file/0014/3713/FS_PSA_16_Public_interest.pdf

Ozkul, F. U., & Pamukcu, A. (2012). Fraud Detection and Forensic Accounting.