Forensic accounting students are studying for an exciting and challenging career: they will someday be responsible for investigating and preventing financial fraud. While they are still in school, they will be required to write research papers on forensic accounting. Fortunately for them, their chosen field is rich in potential research topics.
The Failure of Statutory Audits
Although companies are legally required to be audited in order to detect financial fraud, audits do not always detect wrongdoing. The failure of internal and external audits has led to a greater need for forensic accountants to investigate fraud. One topic that could be examined is why the statutory-audit system often fails to catch fraud, and how to improve it by improving forensic-accounting standards.
News reports on huge multinational corporations that engage in massive fraud are sadly not uncommon. These swindles are usually on such a large scale that it is impossible for only one person to be the perpetrator. Such financial deceit is carried out by a team of people who have conspired to commit it. Forensic accounting students could research what safeguards are needed to catch wrongdoers before they cause irrevocable damage.
Country Case Studies
For students who are interested in the global state of forensic accounting, they might enjoy researching forepresentnsic-accounting standards in other countries. For example, China or India could be case studies in forensic accounting, especially when compared to the field in the US. In addition, a student could compare two different countries outside of the US, such as England and India. This type of report could provide insights into forensic-accounting practices around the world.
The Rising Popularity of Forensic Accounting
According to the The Journal of Forensic Accounting, there is anecdotal evidence to show that the popularity of studying forensic accounting is rising. Students could research whether this is true. And if true, what factors are causing students to enter this field? Another related research topic is whether forensic accounting graduates are satisfied with the results of their education, have they found employment, and if they have, has it met their expectations?
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- Fraud & Forensic Accounting.
- The Journal of Forensic Accounting: Books Wanted.
- "European Journal of Scientific Research." The Role of Forensic Accounting in Solving the Vexed Problem of Corporate World. A.A. Owojori and T.O. Asaolu. 2009.
- "International Journal of Business and Management." Analysis of the Necessity to Develop the Forensic Accounting in China. Xianghua Hao. May 2010.