Accounting 562

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How do the codes complement each other?

Both codes require the same basic principles. The internal auditor and the fraud examiner must both remain unbiased, professional, and ethical in all decision making. If violations are found, each organization goes through a specific process of determining if an ethics violation has taken place, and it is then appropriately dealt with by the respective agency. With both agencies, any illegal acts are prohibited from a legal standpoint, and also establishes a violation of the ethics policy. Auditors and fraud examiners are not allowed to take assignments that they believe they do not have the expertise or experience to adequately handle.

Provide three other notable points of information from each site that either you learned for the first time or have found useful in your current work role.

1) Offers certification to those with extensive experience and a college degree, just as the ACFE does, for there given field. Both credentials are test-based, and the successful passing of the test is a main screening criterion for certification. 2) Both sites offer extensive resources for the professional, and also for visitors. Both sites have extensive databases covering all major areas of their respective fields. 3) Both sites are for people interested in the topics covered, for current news. Both organizations prominently display current news in their field on their home pages.

Lastly, both organizations have standards. Why are standards important in these fields?

Standards are extremely important in both of these fields, because of the work involved. If the fraud examiner or the auditor does not have strict standards to stand by, it affects the quality of the work, which ultimately affects the company's financial reporting, or can cause a loss of assets or other loss to the company.

References:

Association of Certified Fraud Examiners - Fraud Training Education and Certification. (n.d.). Association...
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