scholarly journals Combating economic and financial crimes in nigeria: the role of the forensic accountant

2020 ◽  
Vol 10 (4) ◽  
pp. 12-28
Author(s):  
Felix Ogbeiyulu Umanhonlen ◽  
Otakefe J.P ◽  
Killian Osikhenaogiedu
Keyword(s):  
Internal Control ◽  
Expert Witness ◽  
Future Research ◽  
Financial Crime ◽  
Public And Private ◽  
Forensic Accounting ◽  
Financial Crimes ◽  
Routine Basis ◽  
Expert’S Opinion

Economic and financial crime has been a clog in the wheel of progressand a majorproblem be devil economic prosperity and growth modelsof most nations of the world. Due to this government in some quarters have had the reason to set upinstitutions to unravel as well asdispels themenace. Despite this,fewer than much success mayhave been achieved by the respective anti-corruption agencies as a result of not identifying with therole of forensic accounting science in planning, investigating and representing expert witness/testimony on be fore law suit. This paper attempts toappraisethe role of forensic accountant in combating economic and financial crimes in Nigeria. The paper explored relevance components of economic and financial crimes and extensively discussed concepts of crime and criminality, corruption, white collar and cybercrimes. Specifically, the study reviews the historical antidotes of forensic accounting, emphasizes on the role of forensic accounting science in litigation and forensic accountantensuring economic and financial crime immersed. Moreso, the study identifies basis for future research, some potential crimes factors and forensic accounting science expert’s opinion in crime scene as well as reviewed prior studies and gap envisaged. Essentially, the study reviewed theoretical issues using qualitative approach thereby involving a survey of literature to decipher relevant issues. It there fore sought that forensic accounting serves the basis for investigation, expert witness testimonyand opinion of expert in lawsuit so as to unravel crimes, and reach resolution for recovering. However, concludes that there is need to involve and embrace accounting expert science in all facets of crime investigation in order to accelerate detections and ameliorate incidences of failed attempt on crime recovery related to economic and financial crimes. Therefore, propose that public and private sectors should engage, recruit and employservices of and/or stationed forensic accountant to review,strengthen, reappraises records and internal control on routine basis. Also to check incidences of crime perception as well as anti-corruption agencies saddled with the responsibilities of fighting economic and financial crimes to employ and adopt engagement of forensic accountant on regular basis among others for all-inclusiveness works of planning, investigating, detecting,and recovering.

Governance Through Civil Society

2020 ◽  
Author(s):  
Jacob Torfing
Keyword(s):  
Civil Society ◽  
Common Ground ◽  
Network Governance ◽  
Future Research ◽  
Public Governance ◽  
Public And Private ◽  
Non Profit ◽  
For Profit ◽  
New Research

In recent years, there has been a growing interest in the role of civil society in public governance, defined as the process of steering society and the economy through collective action and in accordance with some common objectives. Civil society holds valuable experiences, resources and ideas that may be mobilized in support of public governance processes. The heightened interest in civil society has stimulated scholarly debates about the conceptualization of civil society that tends to be defined as an institutional realm of private associations, voluntarism, and active citizens. The theoretical perception on the role of civil society vis-à-vis public governance seems to have moved from mainly considering the governance of civil society and governance in civil society to focusing on governance with civil society through various forms of collaborative network governance and co‑creation processes. In other words, civil society is no longer perceived merely as a target for public governance initiatives promoted by state agencies, nor is it solely praised for its capacity for self-governance. Civil society has been re-casted as a competent and resourceful partner in processes of co-governance in which public and private actors create a common ground for joint problemsolving. The new research on co-governance prompts analysis of the conditions for engaging civil society actors in public governance, the potential benefits and problems of governance based on interaction with civil society, and the need for meta-governance of cross-boundary collaboration. Civil society is often associated with local, place-bound groups and associations, but it is equally important to consider the prospects for global governance to involve the emerging global civil society. The interest in how civil society can play a role in and contribute to public governance has come to stay and prompts us to reflect on future research avenues, including the key question of how we can create platforms for cross-boundary collaboration between public and private for-profit and non-profit actors. As such, the re-casting of civil society as a partner in the co-governance of society also seems to transform the state from an authority standing above society to an opportunity structure that promotes cross-boundary collaboration and co-creation of public value outcomes.

scholarly journals FORENSIC ACCOUNTING: A WAY TO FIGHT, DETER AND DETECT FRAUD

2020 ◽  
Vol 10 (1) ◽  
Author(s):  
Dr Esha Jain ◽  
Jonika Lamba
Keyword(s):  
Information Technology ◽  
Armed Forces ◽  
White Collar ◽  
Cyber Forensics ◽  
Forensic Accounting ◽  
Financial Crimes

Forensic Accounting is one of the emerging fields for accountancy professionals. Forensic Accounting is the function of bookkeeping, auditing and analytical expertise to combat the financial and white-collar crimes. The scope of forensic accounting has expanded due to cases of corporate scams and financial frauds. Forensic Accounting is the dynamic and strategic tool which helps in combating the corruption, financial crimes and frauds through the application of forensic auditing techniques. There is a huge demand for forensic auditors in the field of insurance, banks, police armed forces and government departments. This paper shows the application of information technology and cyber forensics to curb the malfunctioning done by corporate. In this paper role of the forensic auditor has been explained and the various techniques employed by forensic auditors have also been discussed. The latest cases in the field of forensic accounting have also been included in this paper. Forensic auditors can help the economy to grow and protect the interest of various stakeholders.

Strengthening the role of lawyers and other professional advisers in addressing economic and financial crimes in Indonesia

2019 ◽  
Vol 26 (4) ◽  
pp. 1107-1116 ◽  
Author(s):  
Anastasia Suhartati Lukito
Keyword(s):  
Code Of Ethics ◽  
Economic Crime ◽  
Business Community ◽  
Public And Private ◽  
Content Type ◽  
Legal Professionals ◽  
Financial Crimes ◽  
New Perspective ◽  
Financial Transactions

Purpose This paper aims to explain the regulations in Indonesia that apply to lawyers and other professional advisers in terms of their obligations as reporting parties of suspicious financial transactions with respect to money laundering and other financial crimes. As lawyers and other professional advisers offer services to the business community in Indonesia, they are vulnerable to becoming parties to illegal business transactions. The results could lead to bribery, graft, tax crime and corruption in Indonesia. Design/methodology/approach This paper explores and analyzes the obligations of lawyers and other professional advisers under Indonesian law, with particular reference to their obligations as reporting parties in efforts to prevent economic crime within the country’s business community. Findings Lawyers and other professional advisers, as reporting parties, can be viewed as the gatekeepers that inhibit economic and financial crimes. Consequently, a new perspective is needed for all of the legal professions so that they can protect themselves from the risks of being targeted by nefarious clients/offenders. To strengthen the role of these advisers, it is recommended that both a code of ethics and know your customer principle to be implemented. Practical implications This paper can serve as a resource that explores the functions of lawyers and other professional advisers as reporting parties whose aim is to prevent financial and economic crime in Indonesia. Originality/value This paper encourages lawyers, other professional advisers, and public and private institutions to implement a code of ethics, and also integrity and professionalism, with a view to preventing economic and financial crimes. According to the code, the functions and obligations of lawyers and other professional advisers include discouraging such offenses. The code becomes effective when legal professionals adhere to legal ethics and integrity.

scholarly journals FORENSIC ACCOUNTING: AN OVERVIEW IN INDIAN CONTEXT

2020 ◽  
Vol 3 (4) ◽  
pp. 36-47
Author(s):  
Dr. Nirali Ketan Shah
Keyword(s):  
Financial Statements ◽  
Secondary Sources ◽  
Indian Context ◽  
Forensic Accounting ◽  
Conceptual Clarity ◽  
Financial Crimes ◽  
Cyber Crimes ◽  
The Government ◽  
State Of Affairs

The rudiments objective of GAAP states that the financial statements must depict ‘true and fair’ view of the financial state of affairs. The ambivalence of ‘true and fair’ view created a dodge towards the rise of financial frauds, thereby wearying the trust of the users of financial information on the reported statements. Forensic accounting as new area of accounting in India has come to limelight recently due to quick increase in white collar crimes, financial crimes, cyber-crimes and growing complexities of the corporate environment. Forensic accounting is the triple practice that integrates accounting, auditing and investigative skills to conduct an examination into a company’s financial statements. The object of this study is to know the detailed conceptual clarity regarding the term Forensic Accounting. The study covered the necessary information regarding knowing the term Forensic Accounting, its definition, characteristics, objectives scope, role of a forensic accounting investigator and modus operandi (Techniques). It also covered differentiating points among the accounting, audit & forensic accounting. More over the well-known case of fraud has also been taken in the study. The data was collected to understand the objectives of forensic accounting and challenges faced by forensic investigators while examining various cases. The research largely makes use of secondary sources of data and the previous literature on forensic accounting, along with the experts’ views on the same. There is an urgent need to regularize the forensic accounting movement by the government and recognized accounting bodies in India.

scholarly journals Bolstering Corporate Sector Partnership in the Fight against Financial Crimes in the Developing World: The Experience of West Africa

2014 ◽  
Vol 5 (1) ◽  
pp. 694-703
Author(s):  
Abdullahi Y Shehu
Keyword(s):  
International Standards ◽  
Strategic Partnership ◽  
Financial Crime ◽  
Corporate Sector ◽  
Public And Private ◽  
The Public ◽  
Terrorist Financing ◽  
Financial Crimes ◽  
The Stability ◽  
Collaborative Efforts

Financial crime threatens the credibility and efficiency of systems and the stability of countries. Countering it requires concerted and collaborative efforts and strategic partnership between the public and private sectors. This paper discusses the roles of the private sector and challenges of compliance with acceptable international standards against money laundering and terrorist financing. The paper suggests that most of challenges, especially with regard to the reporting of suspicious transactions have almost been overcome, yet, there other challenges that remain. It concludes by making recommendations to address those challenges and improving the efficiency of the financial system. 

The Role of Forensic Accounting in Fraud Investigations: A Survey Based Research from Kingdom of Bahrain

2015 ◽  
Vol 2 (1) ◽  
pp. 168-184 ◽  
Author(s):  
Lulwa Isa AI Musalam ◽  
Gagan Kukreja
Keyword(s):  
Financial Analysts ◽  
Knowledge And Skills ◽  
Forensic Accounting ◽  
Accounting Professionals ◽  
Financial Crimes ◽  
The World ◽  
The Government

Forensic accounting is the practice of utilizing accounting, auditing and investigative skills to assist in legal matters. The increase in number of frauds and fraudulent activities around the world has emphasized the need for forensic accountants. This research aims at define forensic accounting and differentiates between forensic accounting and traditional accounting and auditing. The study then explores the role of forensic accountants in fraud investigation and the knowledge and skills forensic accountants are expected to possess. Finally, the study will explain the role of forensic accounting in fraud investigation in view of accounting professionals, financial analysts and auditors in Bahrain. The result showed that Forensic Accountant is important in fraud investigation and curb and resolve economic and financial crimes in Bahrain economy. We recommend among others that the government of Bahrain should enact an Act that will make forensic accounting a practice in Bahrain so that economic and financial crimes can become history.

scholarly journals The application of cognitive interviews to financial crimes

2018 ◽  
Vol 25 (3) ◽  
pp. 882-890
Author(s):  
Mark Eshwar Lokanan
Keyword(s):  
Cognitive Interview ◽  
Critical Examination ◽  
Financial Crime ◽  
Cognitive Interviews ◽  
Content Type ◽  
Interview Techniques ◽  
Criminal Suspect ◽  
Financial Crimes ◽  
Vulnerable Population Groups

Purpose The purpose of this paper is to present an argument for the use of cognitive interviews to be use in financial crime investigations. In particular, the paper argues that the components of cognitive interview make it useful for financial crime investigators to gather and collate information on financial criminality. Design/methodology/approach The paper chronicles the literature on cognitive interviews to critically evaluate its usefulness in previous studies. Findings A critical examination of the literature shows that cognitive interviews were successfully used in a variety of circumstances. Despite its difficulties, the empirical evidence reveals that cognitive interview fared well in laboratory studies across different (and vulnerable) population groups. Practical implications There is evidence to suggest that cognitive interviews can be an effective technique to interview witnesses of financial crimes. The fact that white-collar criminals, more often than not, comes from a “gentleman background” and are not accustomed to the role of “criminal suspect,” makes cognitive interview techniques a useful tool for fraud investigators. Originality/value To the author’s knowledge, this is the first paper of its kind to conduct a thorough literature review and apply cognitive interview techniques to financial crime investigation.

Progress on the role of ICTs in establishing destination appeal

2019 ◽  
Vol 10 (4) ◽  
pp. 791-813 ◽  
Author(s):  
Ante Mandić ◽  
Daniela Garbin Praničević
Keyword(s):  
Information And Communication Technologies ◽  
Information Provision ◽  
Future Research ◽  
Tourism Destination ◽  
Public And Private ◽  
Content Type ◽  
Use Of Resources ◽  
Information Accessibility ◽  
Public And Private Sector

Purpose This paper aims to analyse the role of information and communication technologies (ICTs) in establishing destination appeal and reflect on the implications for smart tourism destination development. The focus is on identifying and analysing technological solutions by considering six elements shaping tourism destination appeal, namely, attractions, public and private amenities, accessibility, human resources, image and character and price. Design/methodology/approach To deliver public and private sector implications, the authors have reviewed and analysed relevant papers that were published in hospitality and tourism journals (42 Q1 and Q2 ranked journals based on SCImago Journal Rank) between 2010 and 2018. Findings ICTs affect the marketing and management of tourism destinations. They foster their innovativeness (e.g. interpretation of destination factors, new travel trends, innovative products, VA and AR), contribute sustainability (e.g. visitor management and reducing the use of resources) and improve accessibility (e.g. information provision, navigation, availability of sites and travel planning). The adaptation of technological solutions in the hospitality industry can be related to increased productivity, profitability and quality of services. Additionally, ICTs facilitate visitor decision-making (e.g. online distribution channels and information accessibility), influence overall travel experience and enable the sharing of visitors’ impressions. Research limitations/implications The significant limitations of this study include restrictions on the timing of publication and on journal selection. Originality/value This paper reviews full-length research papers that were published in relevant tourism and hospitality journals. This paper complements the current literature by addressing the role of ICTs in establishing destination appeal and reflecting on implications for smart destination development and future research.

Role of money mules in money laundering and financial crimes a discussion through case studies

2020 ◽  
Vol 27 (3) ◽  
pp. 911-931
Author(s):  
Muhammad Subtain Raza ◽  
Qi Zhan ◽  
Sana Rubab
Keyword(s):  
Case Studies ◽  
Money Laundering ◽  
Design Methodology ◽  
Internet Usage ◽  
Financial Crime ◽  
Content Type ◽  
Financial Condition ◽  
Financial Crimes ◽  
The World

Purpose This paper aims to explain the role of money mules in money laundering and financial crimes through the discussion of case studies. The authors also explain the red flags of money mules and provide advice. Design/methodology/approach The authors use a case analysis approach. The paper mainly discusses ten cases about the use of money mules in financial crimes. Findings It has been found that money mules help criminal syndicates to remain anonymous while moving funds around the world. The unemployment, internet usage involvement of teenagers and youth in money laundering-related crime around the world are on a rising trend, and criminals are constantly looking for their victims by exploiting their mental and financial condition. Originality/value This paper provides case studies to understand the role of money mules in money laundering and financial crime.

An examination of female exceptionalism in early leisure placemaking activities.

2021 ◽  
pp. 13-23
Author(s):  
Amanda Belarmino
Keyword(s):  
Public Space ◽  
Hospitality Industry ◽  
Future Research ◽  
Early 20Th Century ◽  
Culinary Arts ◽  
Public And Private ◽  
Historical Viewpoint ◽  
The 1960S

Abstract Placemaking is defined as the intentional design of public space to benefit the health and happiness of the citizens. While this concept is generally considered to have originated in the 1960s with the work of Jones and Whyte, there is evidence that the basics of placemaking were present in the late 19th and early 20th century. The role of female pioneers in hospitality and leisure placemaking has remained relatively unexplored. These women who made industry-changing contributions to catering and culinary arts, food safety, hospitality architecture, and hotel operations helped to create both public and private spaces for leisure that promoted the basic tenets of placemaking. Their narratives will be examined in the context of historical benchmarking for leisure placemaking in this chapter, which details the lives, accomplishments, and lasting legacies of the foremothers of the hospitality industry. Provided in a case study format, this chapter provides leisure educators with materials for the classroom while examining the concept of placemaking from a historical viewpoint. This chapter provides insight for future research into the role of women in placemaking, both historically and in contemporary times.

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