THE HISTORY OF FORENSIC ACCOUNTING AS AN ASPECT OF ACCOUNTANCY
Abstract
This study conducts a review of literature on the history of forensic accounting as an aspect of accountancy. Specifically, it traced the historical development of forensic accounting, identified the challenges and limitations of forensic accounting, analyzed the role of forensic accounting in detecting financial fraud and assessed the impact of forensic accounting on the accounting profession. The finding revealed that forensic accounting originated from accounting and it helps in curtailing financial fraud. It is recommended amongst others that organizations should enhance education and training in forensic accounting
Keywords:
Forensic Accounting, Fraud, Corporate Governance, Internal Controls, Whistleblowing, Risk Management, Digital ForensicsDownloads
Published
DOI:
https://doi.org/10.5281/zenodo.15342436Issue
Section
How to Cite
License
Copyright (c) 2025 Olorunfemi Gbenga Samuel , Johnson Olugbenga Agbede, Shiyanbola Trimisiu Tunji
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.
References
Abdullahi, R., & Mansor, N. (2018). Fraud prevention initiatives in the Nigerian public sector: understanding the relationship of fraud incidences and the elements of fraud triangle theory. Journal of Financial Crime, 25(2), 527-544.
Adebayo, A. O., Adenle, O. E., & Ojuade, G. A. Role of accounting thought in the evolution of forensic accounting: The past, present and future.
Albrecht, W. S., Albrecht, C. O., & Albrecht, C. C. (2009). Fraud Examination. Cengage Learning.
Allan, D. M., Kelly, A., & Stephenson, A. (2018). The prominence of fraud in New South Wales metropolitan media reporting. Crime, Law and Social Change, 70(5), 603-619.
Association of Certified Fraud Examiners (ACFE). (2020). The history of forensic accounting. [Link to ACFE]
Association of Certified Fraud Examiners (ACFE). (n.d.). The role of forensic accounting in fraud prevention. Association of Certified Fraud Examiners. Retrieved from https://www.acfe.com
Asusu, P. U. (2019). Effect of forensic auditing on reducing fraud cases in Nigeria money deposit bank.
Blythe, S., & Goodpasture, J. E. (2019). Nursing home fraud schemes: Forensic accounting lessons from litigation. International Journal of Healthcare Management, 1-8.
Bologna, G. J., & Lindquist, R. J. (2020). Fraud Auditing and Forensic Accounting (5th ed.). Wiley.
Cressey, D. R. (1953). Theft of the Nation: The structure and process of organized crime in America. Glencoe, IL: Free Press.
Dennis, S. A., & Johnstone, K. M. (2018). A natural field experiment examining the joint role of audit partner leadership and subordinates’ knowledge in fraud brainstorming. Accounting, Organizations and Society, 66, 14-28.
DiGabriele, J. A., & Huber, W. D. (2015). Topics and methods in forensic accounting research. Accounting Research Journal, 28(1), 98-114.
Dorminey, J., Fleming, A. S., Kranacher, M. J., & Riley Jr, R. A. (2012). The evolution of fraud theory. Issues in accounting education, 27(2), 555-579.
Enron Corporation. (2012). Enron: A case study in corporate governance failure. Journal of Business Ethics, 33(3), 227-247.
Honigsberg, C. (2020). Forensic accounting. Annual Review of Law and Social Science, 16(1), 147-164.
Igwebuike: An African Journal of Arts and Humanities, 5(2), 2488- 9210(Online), 2504-9038.
Jones, M. (2017). The evolution of forensic accounting: Past, present, and future. Journal of Accounting, Auditing & Accountability, 30(6), 1094-1125.
Kranacher, M., Riley, R., & Wells, J. T. (2011). Forensic Accounting and Fraud Examination. Wiley.
Liodorova, J. U. L. I. A., & Fursova, V. A. L. E. R. I. Y. A. (2018). Forensic accounting in the world: past and present. Journal of Economics & Management Research, (7).
Moore, R., & Hales, K. (2020). Forensic Accounting: A Guide for Fraud Investigators. Wiley.
Ojo-Agbodu, A., & Ndubusi, E. I. (2022). Effect of forensic accounting on fraud detection and prevention in selected quoted deposit money banks in Nigeria. Fuoye Journal of Finance and Contemporary Issues, 3(2).
Oladutire, O. E., Adeyefa, O. I., & Adegbola, F. (2024). Forensic accounting: Tool for fraud detection and prevention. International Journal of Advances in Engineering and Management, 6(1), 213-220. doi:10.35629/5252-0601213220
Ozili, P. K. (2020). Advances and issues in fraud research: a commentary. Journal of Financial Crime, 27(1), 92-103.
Ramos, R., Gonçalves, J., & Gonçalves, S. P. (2020). The unbearable lightness of academic fraud: Portuguese higher education students’ perceptions. Education Sciences, 10(12), 351.
Rezaee, Z. (2011). Financial Statement Fraud: Prevention and Detection. Wiley.
Rezaee, Z. (2011). Corporate governance and ethics. Wiley.
Sadaf, R., Oláh, J., Popp, J., & Máté, D. (2018). An investigation of the influence of the worldwide governance and competitiveness on accounting fraud cases: A cross-country perspective. Sustainability, 10(3), 588.
Silverstone, H., &Scheiner, J. (2008). Forensic accounting and fraud investigation for non-experts. John Wiley & Sons, Inc.
Singleton, T. W., & Singleton, A. J. (2018). Fraud Auditing and Forensic Accounting (4th ed.). Wiley.
Timofeyev, Y., & Jakovljevic, M. (2020). Fraudster’s and victims’ profiles and loss predictors’ hierarchy in the mental healthcare industry in the US. Journal of Medical Economics, 23(10), 1111-1122.
Treadway Commission. (1992). Report of the Committee of Sponsoring Organizations of the Treadway Commission. Retrieved from https://www.coso.org
U.S. Government. (2002). Sarbanes-Oxley Act of 2002. Public Law 107-204, 116 Stat. 745.
U.S. Government. (2010). Dodd-Frank Wall Street Reform and Consumer Protection Act. Public Law 111-203, 124 Stat. 1376.
Wells, J. T. (2014). Principles of fraud examination (4th ed.). Wiley.
Wells, J. T. (2021). Principles of Fraud Examination (5th ed.). Wiley.
WorldCom. (2012). WorldCom: The rise and fall of a telecommunications giant. Journal of Business Ethics, 43(4), 269-285.
Yang, C. H., & Lee, K. C. (2020). Developing a strategy map for forensic accounting with fraud risk management: An integrated balanced scorecard-based decision model. Evaluation and program planning, 80, 101780.
Zohar, R., &Sarma, S. (2020). The impact of forensic accounting on corporate governance. Journal of Forensic & Investigative Accounting, 12(2), 150-175.
Zysman, J. (2018). Financial Crime and Forensic Accounting: A New Era of Accountability. Journal of Forensic & Investigative Accounting, 10(2), 30-45.
