The Role of Forensic Accountants in the Development of Judicial Process

Topics: Accountant, Court, Accountancy Pages: 4 (831 words) Published: January 17, 2013
The Role of Forensic Accountants in the Development of Judicial Process


Nnoruem Timothy O.

M.Sc Accountancy


In recent times, the world has witnessed the failure of large corporate organizations which has been attributed to large scale fraud by Directors in connivance with auditors.

There is the case of Enro in the U.S, Parmalat in Italy and many cases in the U.K such as Polly Peek, Maxwell communications and BCCI.

This development brought about in its wake the lack of public confidence in audit reports and auditing. By this many stakeholders seek redress in the court of law. In the court of law, the service of an expert witness is required in order to ascertain the true state of affair of the troubled enterprise.


To examine a forensic Accountant as an expert witness in litigation and to effectively determine his role in judicial process


Forensic accounting is hardly a new field, but in recent years, banks, insurance companies and even police agencies have increased the use of these experts. A nationwide study conducted by Kessler International (a forensic accounting and investigative firm) showed that 39% of organizations have considered the need for a forensic accountant. The study intends to find out how the knowledge of forensic accounting can reduce corporate fraud, mismanagement and seeking redress in the court of law.


What is forensic Accounting?

Forensic accounting is the practice of utilizing accounting, auditing and investigative skill to assist in legal matter and the application of specialized body of knowledge to the evidence of economic transaction and reporting suitable for the purpose of establishing accountability or valuation of administrative proceeding. In wide sense, it can be said as the...

References: 1. Aderibigbe, P. (2000): The Role of forensic chartered Accountant in Nigeria. July, 2000.
2. Crumbley H. (2003): Forensic and Investigative Accounting; CCH Publishing
3. Financial Restatements, General Accounting Office Report, 2002
4. Kessler International study; (2002) Forensic accountants needed as economy worsens. Press release
5. Oremade, T. (1988): Auditing and Investigations, Lagos; West Africa Books Publishers Limited.
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