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Accounting (Essay Sample)

Many corporations and government entities have an internal auditing function and a separate fraud investigation function either as a subunit of internal auditing or security or as a separate unit within the organization. In addition, many accounting and consulting firms have a forensic, investigation, and litigation support services. The financial forensic investigation techniques and procedures used within an organization (in-house) or from a professional contracted service firm can come about in different ways. For example, some forensic techniques for analyzing financial statements are common for financial auditors, fraud auditors, or forensic accountants and investigators. Other techniques, such as using behavior detection methods and interviewing methods, are primarily used in specific fraud investigation engagements. Please post an answer to the following questions. Support your answers with 2 academic or real-life criminal justice examples to accentuate your point. Research and locate a company that was audited by an outside source and explain the method, technique, and findings of an audit. Do you think that it is a wise investment to contract services that provide security against fraud or should it be an in-house department that provides fraud security services? Include additional information that you think is appropriate or interesting concerning ethical or unethical business behavior. Cite your references in APA format. ***********Objective: Identify the various user groups that need accounting information and the characteristics of the information that they need. Participate in managerial decision processes requiring the input of accounting based information****************** CANNOT USE WIKIPEDIA!!!! source..
Running head: ACCOUNTING
There are a lot of reasons why it is important to carry out audits in any company or organization. An audit simply ensures whether the requirements agreed-upon are met. An outside source of audit ensures that the auditor has no interest or connections with the client. This ensures that maximum preventive actions are taken. There are several advantages for using outside source of auditors. By using outside source of auditing a company/client avoids the cost of employing permanent internal auditors (Accounting Financial Taxation, 2010).
The findings of an audit are easily accepted by the shareholder. By having an outside source of auditing no cost of hiring and training is incurred. It is easy to access an outside source of audit when a client is in a foreign ...
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