THE CONCEPT, ORIGIN AND DEVELOPMENT OF FORENSIC ACCOUNTING.docx

THE CONCEPT, ORIGIN AND DEVELOPMENT OF FORENSIC ACCOUNTING The forerunner of forensic research accounting was found in nineteenth-century Spain, in the writings of Pedro Antonio Alarcona, who described a story about pumpkins and tomatoes. Forensic Accounting or Accounting Expertise has its roots back to 1817 from the case of Meyer v. Sefton, which was conducted in bankruptcy court. Seven years after the Canadian case, accountant James McClelland started a business in Glasgow (Glasgow, Scotland) when he issued a circular letter promoting various types of forensic work. It is assumed that the term "forensic accounting" was first used by Maurice E. Peloubet in 1946 in his article "Forensic Accounting: Its Place in Todays Economy.” The first book on forensic accounting was written by Francis C. Dykeman in 1982. Auditors lack knowledge of criminal investigations, legal norms, and government representatives in charge of taxes and contributions lack in-depth knowledge of business and accounting, while management generally lacks all of the aforementioned knowledge. For these reasons, for more than two decades, and especially in recent years, forensic investigators or forensic accountants are increasingly engaged in the detection of financial fraud reports. Whether hired by management, owners or others users of financial statements, forensic accountants are tasked with investigating and documenting financial fraud or inaccurate material information. There is no single definition in the literature of forensic accounting. Of the many definitions found in the forensic accounting literature, the most complete one seems to be the one given by the ACFE - Association of Certified Fraud Examiners: "Forensic accounting is the use of professional accounting skills in matters concerning potential or actual civil or criminal litigation." Forensic accountants combine their accounting skills with research skills, using this unique combination of dispute support and accounting investigations. They also assist lawyers, courts, regulatory bodies, agencies, such as the Anti-Corruption Agency, in financial fraud investigations (Association of Certified Fraud Examiners, 2012). Founded in 2001, Studler Doyle provides adjusters and attorneys global investigation and accounting services dedicated to crime, fidelity (employee dishonesty and employee theft), lack of faithful performance and commercial surety insurance claims. Studler Doyle’s global team has unparalleled resources to assist our clients with their forensic accounting needs.

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