Forensic Accounting

In: Business and Management

Submitted By meemee89
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Regulation of Forensic Accounting

1. What is the purpose of APES215 and court practice direction discussed?

2. What is the relationship between APES 215 and APES 110?

3. How can a forensic accountant compromise his/her integrity?

4. Why is it important for forensic accountants to exercise professional competence when performing services?

5. Do you think APES 215 is important in the regulation of forensic accounting? Why or why not?

ANSWERS

1. What is the purpose of APES215 and court practice direction discussed?

The delivery of forensic accounting services must be impartial and must not advocate a particular cause, ie.e. be independent. Court will dismiss forensic accounting evidence that fail to meet these basic tests. Hence, in order to maintain impartiality and independence, forensic accountants must follow various guidelines and regulations. Therefore, the purpose of APES215 and court practice directions is to guide forensic accounting services to be impartial and not to advocate the cause. This ensures ethical and high quality service.

2. What is the relationship between APES 215 and APES 110?

Members in Australia shall follow the mandatory requirements of APES 215 when they provide Forensic Accounting Services. The requirements require the members providing a Forensic Accounting Service to comply with the fundamental principles outlined in APES 110. The principles include integrity, objectivity, professional competence and due care, confidentiality and professional behaviour.

3. How can a forensic accountant compromise his/her integrity?

The principle of integrity imposes an obligation on all members to be straightforward and honest in all professional and business relationships. Integrity implies fair…...

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