Make Money Online Taking Surveys for Beginners

In the event that you are new to paid surveys, you may possibly speculate how do I begin making money by taking on the net surveys? This article is a guideline for paid survey newbies and make sure you follow my step by step guidelines below to get on a speedy and good start.1. Keep in mind this: do NOT pay any person to do paid online surveys in any way. It is generally FREE to do paid surveys and get money. Authorized paid survey and market research firms do not charge you, in fact they pay you for your opinion.2. Create a devoted email account. You will receive lot of emails and you require a separated email address for survey invite emails. Note: you’ll have to turn OFF your spam filter or establish the spam filter option to do not erase emails in spam folder instantly, normally you may miss survey emails.3. You may well want to open up a free PayPal account. Various of survey sites provide their payment via PayPal. It’s 100% free to send money, and 100% free to accept payment in the event that you have a basic account, a low transaction fee make use of for Premier and Business Accounts to get cash, and it is generally faster than check payment.


4. Register with all the real online survey businesses you can find, starting with the top 10 cash paying survey panels. Be sure to verify your survey panel membership. This often entails clicking the link in the confirmation email coming from the survey panel following signing up. This is essential step for sign up. I recommend you take time to subscribe with ALL the genuine survey sites you can find. The cause is very basic, the more survey sites you sign up with, the even more survey invitation you acquire to do.5. Suggestions on staying away from scams.a. If you come cross a survey internet site, make sure to check their policy. If you are not content with the privacy or they don’t have an online privacy policy, avoid from them.b. Take note the main difference among paid surveys sites and get paid sign up offer internet pages. The later oftentimes state they are survey sites, in fact their particular main business is paid offers. They are the places you get paid for registering offers, and often you need to pay or offer credit card data while sign up non no cost offers.c. Avoid from any websites, paid or free offering known scam or spam, commonly those sites state they have a list of 300+, 400+ or even 500+ paid survey sites, the fact is there are NOT THREE HUNDRED survey sites that pay!) They are just marketing anything at all they can find for commissions, regardless of its scam or spam and can’t be trusted.6. Tips on performing surveys.a. Be genuine with your personal profile details when join with survey corporations.b. Response survey invitations promptly. Many surveys have quota and a lot of fill fast, especially large paying and fast to qualify surveys.7. Tips on getting paid.Make certain to keep the invitation emails for the surveys that you meet the requirements and finished, especially those on the web interactive surveys focus group. You want to have proof for your involvement when there is an issue.


8. Be patient.This is very essential for survey newbies. It can take a while to receive money since many survey sites have minimal payout need and it will take time for them to process payment. Likewise it requires a while to acquire more surveys. For me personally, I didn’t obtain any kind of cash or other benefits in the 1st month, I had several points or others but not plenty of to cash out, and the cash didn’t start arriving in until the end of second month. It is equally soon after two months, I began to get and meet the criteria for extra surveys, incorporating those high-end surveys such as online surveys and focus organizations.Performing paid surveys does not help to make me rich, but I delight in it. By way of the survey money I made, last year I bought a completely new laptop computer for myself! I also bought toys, DVDs, gifts, books and other products for my child, wife and family members. Paid survey undoubtedly is an easy to do and fun method to make increased spending cash, and it really worth my time!

Creating a Culture of Accountability

Airports are great places to get surprised and meet some wonderful people. During few occasions, I happen to meet few celebrities, politicians, my former colleagues and bosses and sometimes I chanced upon few people who are connected with me on Social Media, such as LinkedIn and Facebook. That day while I was traveling from Pune to Delhi through Spicejet (SG 184), I happened to meet Mihir Jaitley – the CEO of a leading multi-billion USD Automobile Conglomerate. Earlier I had met Mihir during few NHRDN and other leadership seminars and conclaves. However, getting a chance to talk to someone, who is as influential and successful businessman, as Mihir in a one-on-one conversation at an airport is a very different experience than asking them a question during leadership conclaves. I was not very sure if I should go and say, “Hello” to him or just let this opportunity go. Missing such an opportunity would have been very idiotic on my part. So, I gathered all my courage and walked towards him.

“Hello Sir, I am Sanjeev. I have heard you and met you during few leadership conclaves. Last, I heard you were in NHRDN conclave in Mumbai during 2014″, I said.

We raised our arms for a warm handshake.

“Hey, Sanjeev, it is nice meeting you. How are you”, he asked.

“I am good, Sir. Thank you. It is really nice to see you here”, I responded.

“Sir, you have unique ideas about how HR can contribute to the growth of an organization. Very unique from other business leaders”, I continued.

“Thank you, Sanjeev. What do you do?” he enquired.

“Sir, I work as Independent Management Consultant for last 1.5 years. I help start-up ventures; small and mid-size organizations in setting up HR Processes & Procedures, as well as helping them improve the performance of their employees. I also help organizations in preparing and grooming their new managers and coaching leaders for bigger roles. Before this, I have worked for 15 years with few organizations across India and outside of India”, I gave thorough reply while extending my business card to him.

“That’s very impressive. I like the phrase that you used in your description, “help”. Consultants don’t give free help. They charge a lot of money”, he replied with a sarcastic smile on his face, while extending his business card.

“Do you think anything can be done to improve the accountability of managers and leaders in an organizational set-up? Have you done anything in those lines”, he asked curiously.

As we were discussing, Spicejet staff made an announcement for boarding the plan.

“Sir, poor accountability is not a concern of one organization or an industry. It is there in all industries. I think the primary problem is not with managers or leaders but the way accountability has been defined. By definition, it appears like an attempt to fix the blame for a failure or crisis rather than giving an empowerment to concerned leaders to find a solution. When it comes to fixing the blame, many leaders are likely to surge it off”, I gave an empathetic reply.

“Yes, I have helped few organizations in making their leaders more accountable. I will be glad to help you too, if I get a chance to meet you again and explain the process”, I continued.

“Well, I just asked you this out of curiosity. We don’t have any such problem in our organization. However, I would like to know more about it. For next TWO weeks, I will be traveling out to other offices. I will give you a call after that. Let’s meet sometime”, I responded.

“Sure Sir. I will look forward to meeting you again. It’s been nice meeting you”, I told, as I picked my laptop bag to board the plane.

“Same here Sanjeev. See you. Bye”, he responded.

I didn’t get any communication from Mihir for one month. And I was in this state of confusion and anxiety. Should I wait or send a communication? Should I call him or send an email? He must be busy or else he would have sent some communication. Maybe he just said that he want to meet, in actual he don’t want to. Okay, let me send one email and see if he will respond or not. It’s just an email.

I sent a short email to Mihir, giving him a summary of our meeting and asking him if he would like to meet to take it further.

To my surprise, I received a reply from Mihir within one hour, sent through his iPhone, informing me that he remember our meeting, however, he is still traveling and will get back to me as soon as possible.

I didn’t get any communication from him for another TWO months, neither did I bother to send another email to him or call him. Then one day, on Tuesday, in the month of August, almost after six months of our airport meeting in February, I received a call from Mihir asking me if I am free on Friday and if I will be able to come to his office at 3 PM? I responded with affirmation. I had two days to prepare my presentation and be ready for, probably one of the biggest client meet at that point of time.

I was rehearsing my presentation as I was driving my black color Mahindra XUV 500 to his office in Chakan MIDC near Pune. After reaching the office, I was guided to the conference room. Mihir joined me in the conference room, along with a team of SEVEN people, including Head of HR, Nilesh Gaikwad. I was given ONE hour to complete the session.

Here is how I made the best use of it.

The majority of people in organizations today, when confronted with poor performance or unsatisfactory results, immediately begin to formulate excuses, rationalizations, and arguments for why they cannot be held accountable, or, at least, not fully accountable for the problems.

Most frequently heard statements are:

“That’s not my job”

“There’s nothing I can do about it”

“Someone ought to tell him”

“All we can do is to wait and see”

“Just tell me what you want me to do”

“If we only had the resources”

“The competition outsmarted us”

“The whole economy’s in trouble”

I am sure you might have heard these excuses from your team members and there are also chances that you have given these excuses to your teams, board of directors, customers, etc. Whatever the wording, all our justifications for failure focus on “WHY IT CAN’T BE DONE’, rather than on “WHAT ELSE I CAN DO.”

Let us first understand the meaning of accountability. (I asked the audience to share their understanding of the word accountability). Many people, including leaders, have totally wrong understanding of “Accountability”. They believe,

“Accountability means finding out who is at fault when something goes wrong.”

“Accountability is used to punish people for poor performance.”

“Accountability is management driven: it’s external, not internal.”

“Accountability means responsibility and obligation. It’s when someone outlines what you are supposed to do in a job description and then rates you A, B or C.”

“Accountability is something that is put on you by your boss. It causes unnecessary pressure, fear, regret, guilt, and resentment.”

“Accountability means being willing to stand up and explain what you did.”

“Accountability is a tool that management uses to pressure people to perform.”

The dictionary meaning of accountability is – the quality or state of being accountable; especially: an obligation or willingness to accept responsibility or to account for one’s actions.

By this definition, people only perpetuate a reactive perspective of accountability, one obsessed with the past and blissfully ignorant of the future. Consumed with dotting the “I’s” and crossing the “T’s” of their elaborate explanations for why they’re not responsible, people today are robbing themselves of the power of accountability – a power that The Oz Principle defines as the key to a successful future. In such cultures, winning in the game of life includes “covering your tail”.

The best definition of Accountability, therefore, is what has been explained in Oz Principle:

“Accountability: An attitude of continually asking “what else can I do to rise above my circumstances and achieve the results I desire?” It is the process of “seeing it, owning it, solving it, and doing it.” It requires a level of ownership that includes making, keeping, and proactively answering for personal commitments. It is a perspective that embraces both current and future efforts rather than reactive and historical explanations”.

There is a thin line that separates success from failure and the great companies from the ordinaries. Below that line is a set of individuals or leaders that foster a culture of excuse making, blaming others, confusion, and an attitude of helplessness. While above that line are individuals, leaders and cultures that breed an environment of a sense of reality, ownership, commitment, solutions to problems, and determined action. While losers languish below the line, preparing stories that explain why past efforts went awry, winners reside above the line, powered by the commitment and hard work. People and organizations find themselves thinking and behaving below the line whenever they consciously or unconsciously avoid accountability for individual or collective results. Stuck in what we call the “victim cycle,” they begin to lose their spirit and will, until, eventually, they feel completely powerless.

Now, you must be thinking of “staying on the line”, well, neither individuals nor organizations can stay on the line between these two realms because events will inexorably push them in one direction or the other. While both people and organizations can exhibit accountability in some situations yet manifest victim behavior in others, some issue or circumstance will arise to influence them to think and act from either an above the line or below the line perspective.

When individuals, teams, or entire organizations remain below the line, unaware or unconscious of reality, things get worse, not better, without anyone knowing why. Rather than face reality, sufferers of this malady oftentimes begin ignoring or pretending not to know about their accountability, denying their responsibility, blaming others for their predicament, citing confusion as a reason for inaction, asking others to tell them what to do, claiming that they can’t do it, or just waiting to see if the situation will miraculously resolve itself. This process, if unabated, can wreak both personal and professional havoc.

As we have seen earlier, individuals, leaders and teams when they demonstrate above the line behavior, they See It, Owe It, Solve It and Do it. These are also known as FOUR steps of accountability.

Why do people fail to see it? People most frequently fail to see reality because they choose to ignore or resist changes in the external environment.

Why do so many people fail to own it? People most often fail to own their circumstances because they cannot bring themselves to accept the accountability side of their story.

Why do people fail to solve it? As people begin solving problems they often encounter obstacles, expected and unexpected, that can stimulate a temptation to fall below the line into the victim cycle.

Why do people fail to do it? Most people who fail to Do It can’t or won’t resist the gravitational pull from Below The Line which can so easily drag someone back into the victim cycle, wasting valuable time, energy, and resources, ignoring and denying, making excuses, developing explanations, pointing fingers, getting confused, and waiting to see if things will get better. In our experience, this happens most often because people naturally resist the perceived risks associated with becoming fully responsible for results. A fear of failure can create a terrible burden that makes taking the final step to accountability virtually impossible.

Now that we have understood the meaning of accountability and concept of below the line and above the line, what shall be done to imbibe accountability as a habit?

Creating accountability in others is a process and doesn’t happen as a result of some singular event. Many leaders mistakenly think that once their people have been exposed to the concept of accountability and understand it, they will never fall below the line again. This “event” approach to accountability, the notion that accountability happens at an identifiable moment, doesn’t work. Leaders who make this mistake tend to use accountability as a hammer, nailing people when they fall below the line in an unending game of “I got you.” Such hammering will only propel people back into the victim cycle. Therefore, you must help people feel empowered by the concept of accountability, not trapped by it.

Therefore, whenever you hear a victim story or a below the line excuse, you shall use the following five key steps to coach that person away from reacting and toward learning:

1. Listening. Look for instances of victim behavior, and when you engage someone in a discussion of their victim story (for the purpose of coaching them) or hear “below the line excuses”, listen sympathetically to what they have to say.

2. Acknowledging. Acknowledge the victim facts and obstacles that someone thinks have kept him or her from getting desired results. Show the person that you understand their feelings and know yourself how hard it is to overcome those feelings. Agree that the challenges are real or that bad things do happen to good people.

3. Asking. If someone seems deeply attached to a victim story, gently move the discussion toward the accountability version of the story. Continually pose the question: “What else can you do to achieve the result you desire or overcome the circumstance that plagues you? What can we control, and what can’t we control in this situation? What are we pretending not to know about our accountability in this situation? What have we learned from our recent experience?

4. Coaching. Use the steps to accountability to help a person identify where he or she currently stands and where the person needs to go to obtain desired results. Emphasize that falling below the line on occasion is only natural but staying there never yields results. Stress how rising above the line will produce positive outcomes.

5. Committing. Commit yourself to helping a person create an above the line action plan and encourage him or her to report on their activities and progress. Don’t end a coaching session without setting a specific time for follow-up, allowing sufficient time, but not too much time, to elapse. If the person does not approach you at the appointed time, take the initiative yourself. During these follow-up sessions, continue to look, listen, acknowledge, ask, coach, and recommit. Provide honestly, caring feedback about progress, and express congratulations for every improvement.

In an ideal world, it wouldn’t be necessary for leaders to coach accountability because everyone would acknowledge their accountability in every situation. However, since this is not an ideal world, and since everyone is fallible, leaders must make coaching a daily habit. And while we have emphasized proactive coaching, which focuses on the present and the future, we have also come to appreciate the need for the review of the past, what we call accounting for progress. When handled properly, an after-the-fact accounting can provide a person with an opportunity to measure progress toward results, learn from previous experience, establish a sense of accomplishment, and determine what else can be done to get the desired results. While most leaders intuitively know the value of urging people to account for their actions, many often fail to do it well.

Ultimately, personal accountability means accepting full responsibility for results. It requires the sort of attitude popularized in the Nike footwear television commercials: “Just Do It.” If you don’t Do It, you’ll never reap the most valuable benefit that is derived from full accountability: overcoming your circumstances and achieving the results you want.

I finished my presentation in a huge round of applause. I shook hands with all participants and exchanged visiting cards.

As I driving back to home, I was trying to analyze the impact of presentation and trying to figure out probable response. Are they happy? Will they engage me? Is there anything I can improve upon? Exactly after TEN days of my presentation, I received a call from the HR Head, Nilesh, asking me to send my commercials as their Executive Team has decided to engage me for a pilot batch of coaching 15 Managers and inculcate accountability in their approach and attitude. Based on the outcome of the pilot batch, they will take a decision to engage me further or not.

I shared my commercial details. They seem to be happy with the results that I have managed to get with the pilot batch. Last month they have extended my contract and have given me another batch of 25 Managers.

Thereby, a small, casual discussion at the airport has been converted into a business opportunity.

To prepare my presentation and coaching assignments, I referred the following -

  1. The Oz Principle: Getting Results through Individual and Organizational Accountability, By – Roger Connors, Tom Smith, Craig Hickman
  2. Change the Culture, Change the Game: The Breakthrough Strategy for Energizing Your Organization and Creating Accountability for Results, By – Roger Connors, Tom Smith
  3. How Did That Happen? Holding People Accountable for Results the Positive, Principled Way, By – Roger Connors, Tom Smith

I will be glad to look forward to your feedback.

(Disclaimer: To abide by my terms and conditions of a contract and following confidentiality clause, I have changed the name of my client, industry and location of work)

Importance of Forensic Accounting in Countries of Business Opacity: A Means to End Fraud

Introduction

When hearing about Enron, Conrad Black, Kimberly Rogers or WorldCom, one will definitely think about theft, bribery and fraud. The key word here is “fraud”; where many studies have been conducted about this subject. What is fraud and how is it detected and dealt with, and how is it possible to be protected from it? Such questions and their answers are key terms in the domain of forensic accounting, since fraud has played a major role in the existence of accounting, hence forensic accounting. Understanding fraud is necessary for those who want to understand what Forensic Accounting is, how it has come into the system, how it exactly deals with the issues we face, and to what degree it has helped in certain issues of fraud, or even in strengthening the accounting system in general (Economist Intelligence Unit, 2007).

Research has been conducted on fraud and has been given different definitions, all which come in line with one another. Other researches were done to highlight the job of internal controls in minimizing the chance of theft or misappropriation. However, little research was done on forensic accounting diffusion and proper implementation.

Fraud activities have been manipulating, stealing, and destroying many businesses and industries. To face such harmful trends, fraud examination has been created; and great efforts have been exerted to detect, investigate, and prevent similar acts from encountering. These preventions have shed lights on a new concept and practice known as “Forensic Accounting (FA)”, which has become a common notion to fight against fraud and similar unethical acts. No matter how much fraud activities increase, there must always be an anti-fraud scheme to shield against it. To provide availability of balance and protection is the main reason why FA existed.

Nonetheless, the legal, supervisory, and regulatory systems of financially corrupted countries create significant opportunities and tools for the laundering and protection of the proceeds of crime, and allow criminals who make use of those systems to significantly increase their chances to evade effective investigation or punishment. A country’s commitment to bank secrecy and the absence of certain key supervisory and enforcement mechanisms aimed at preventing and detecting money-laundering increase the possibility that transactions involving the country’s entities and accounts will be used for illegal purposes.

Since one of the most powerful tools used today is forensic accounting, it is advantageous to study its possible implementation in countries with business opacity, and to probe the essential methods needed to establish the implementation of this procedure in different sectors and at many levels. Therefore, in order to achieve these objectives, there is a need to investigate the following research question: “What are the conditions of possibility for implementing FA in a country characterized by an opaque financial sector?” More specifically, this research has two objectives:

1. To identify the best way to highlight the importance of using forensic accounting activity in order to clear the roads of the future of business activities; by learning from past mistakes such as Enron and WorldCom and by using other cases of financial fraud similar to the international ones.

2. To identify the way to diffuse and implement forensic accounting as a vital tool that, when used professionally, can greatly help fight against fraud activity.

Moreover, the gap is that forensic accounting is not known in many countries. FA is not so much spread in the world, it is only known in USA and some developed nations. The study is contributed in finding the best way to implement FA especially with the existing gap, with the objective of covering it mainly because it is so hard to implement forensic accounting especially that it is not diffused worldwide. The objective is to arrive at an answer to the research question and to show how forensic accounting can be implemented in the countries characterized by an opaque financial sector; the overall aim is to achieve this goal.

Literature Review

Different research has been conducted to define fraud including the types of fraud such as that of Gilbert (1997, p. 124) who defined “fraud” as: “an act using deceit such as intentional distortion of the truth of misrepresentation or concealment of a material fact to gain an unfair advantage over another in order to secure something of value or deprive another of a right. Fraud is grounds for setting aside a transaction at the option of the party prejudiced by it or for recovery of damages.”

Farrell & Healy (2000) revealed about fraud that is increasing worldwide and is becoming more costly to businesses every year as fraudsters use intricate methods to commit and cover their criminal acts. Consequences of fraud can vary from public morality corrosion, weakened faith in the organization, to loss in market valuation and confidence of stakeholders.

With the various definitions attributed to fraud, other research done highlighted the importance of having internal control that would limit the continuous fraudulent behaviors. External audits are also undertaken to ensure that internally instituted fraud control mechanisms are adequate in scope, effective in application and complied with. However, it is quite unfortunate to note that the complexity of the human brain and its dynamic method of reasoning have tremendously diversified present-day scams away from the hitherto known modes of fraudulent activities that now render true corporate governance ideals almost unworkable.

It is thus worth mentioning that in an attempt to prevent fraud, the Auditing Standard Board (ASB) in 2002 issued the Statements of Auditing Standard 99 (SAS 99) which introduced a “Fraud Triangle”. Fraud Triangle indicates that the probability of committing fraud is high in situations when managements or other employees have incentive or are under financial pressure, the conditions that provide opportunities for management or employees to commit fraud exists, or the ethical values or characteristics that cause management or employees to rationalize the fraudulent act exists (Maranjan, 2010).

Fraud can be detected and investigated to prevent the possible damages the activity can cause. So what advice would a forensic accountant give to a company suffering from fraud activity? A professional can list four things that can be done to mitigate the occurrence of fraud and they include fraud prevention, fraud detection, fraud investigation and follow-up legal action or resolution. The anti-fraud program of any company should focus on all four.

The past two decades have witnessed significant changes in the business environment including globalization, technological advances and now with reported high-profile financial scandals, ways to improve public trust and investor confidence in financial reports. Emerging regulatory, social, economic, ethical, and legal challenges facing the world of businesses contribute to an increasing demand for FA that encourages accounting.

A study done in October 2003 assures that the demand for an interest in FA will continue to increase in the future and more accounting programs are being planned to provide FA education, The business community and the accounting profession are deeply concerned with reported financial and accounting scandals. However, few to none research were conducted to study the proper diffusion and implementation of forensic accounting in the countries of opaque business practices.

Research Framework

Many factors in a country’s business mechanism contribute to the fraudulent behavior in the financial sectors. For instance, being considered as a tax haven country with banking secrecy regulations, money laundry activities and low corporate governance, fraudulent activities become easy to commit. All of this results in a national wide corruption triggering the need to introduce FA. However, due to the opaque financial nature of the country and prior to the introduction of FA, major changes has to be done to prepare the country for the diffusion and implementation of FA on both the macro and micro levels discussed earlier.

The causes for corruption of which several exist in most corrupted countries as it was previously noted, are attributed to the absence of dysfunctional key anti-corruption institutions, the lack of awareness on corruption, its causes, consequences and the weak legal framework and the absence of proper legal implementation mechanisms. Adding to these are the confessional and feudal mentalities, inefficiency of supervisory bodies, low salaries of public sector employees, political influences on the judiciary, the absence of civic education, foreign interference in domestic affairs, selective or lenient enforcement of the law, and the inefficient media. In other words, the factors contributing to the fraudulent business practices can be categorized under four notion; culture, education, management and government and legislation. Whether it is the lack of awareness regarding FA (culture and education) and the advantages it can bring, corrupt practices of management and the inefficiency of supervisory board or absence of a law that enforces FA (government and legislation), the four categories should be tackled to put an end to the continuous fraudulent acts.

For instance, the lack of whistle-blower protection laws prevented citizens from reporting on political corruption in the legislature or other sections of government. In the private and public sectors, the lack of an access to information law, a whistle-blowers’ protection law, conflict of interest law and other disclosure and transparency mechanisms is a major obstacle to integrity.

Results and Discussion

The literature review explained the different meaning of fraud, forensic accounting, and the characteristics of an opaque business country and how can FA help in limiting fraudulent behavior that is making it easy for money launderers to continue their illegitimate practices. Furthermore, FA can serve as a liberator for countries with opaque business practices such Luxembourg, Austria, Lebanon and many others, putting an end to all the business corruption taking place at the different sectors of the country, be it government or any other private or public sector. However, to reap the best results of FA, a proper diffusion and implementation process must take place that requires the work of the parties in a country, be it government itself, people’s view and awareness of FA on the cultural basis, the companies that must require from its employees to be aware of FA and to employ forensic accountants as well and universities and other academic institutions that bear on its ability to teach FA.

Countries with opaque business practices tend to share similar characteristics that justify the prevalence of fraudulent activities. As it was mentioned earlier, the factors that contribute to the fraudulent behavior in the financial sector can be categorized under four categories; culture, government and legislation (macro-level), management, and education (micro-level).

The importance of adopting forensic accounting is thus highlighted, however, the process of introduction is not an on the spot process. On the contrary, it requires time and effort in terms of shifting cultural awareness to realize the importance of FA. That being said, the government as a primary facilitator and the educational systems should take part in creating awareness and shifting cultural mentality towards FA. Managements must also educate employees on FA and to adopt it as part of its system.

A. Forensic Accounting in Culture

Koh et al., (2009) conducted a study to examine the acceptance level of the public in Malaysia regarding forensic accounting. The study revealed that problems arise from the fact that FA service is still new to most of the businesses and even to the public in Malaysia. This leads to confusion among the public and some may even be unaware of the existence of the system. Therefore, the importance of the service is disregarded (goes unnoticed).

Two variables affect the acceptance levels of the public for the practice of forensic accounting as the main tool in investigating a company’s account to detect fraud. The variables include the public’s understanding level on forensic accounting functions and the perception regarding the implementation of forensic accounting in the investigation. The understanding level of the public and the functioning of forensic accounting will determine whether the public in Malaysia will accept it as the main tool in investigating a company’s account in case of fraud. The perception of the public on the implementation of forensic accounting in the investigation of a company’s financial statement also determines the acceptance level of forensic accounting in the country.

This study shows the importance of two basic components that should be available to create a ground for forensic accounting implementation; these elements are awareness and knowledge of forensic accounting as an anti-fraud tool and the perception of implementing forensic accounting, whereby these two elements are considered as major factors for the level of acceptance of such tool.

In other words, if a change is made in cultures of financially corrupted and opaque business practices, it will result in changes in the people’s practices, norms, and values, hence their behaviors; at the end, it will create an awareness and knowledge about fraud and how to fight it and the tools that could be used to inhibit it. In addition, this process similarly applies to forensic accounting.

B. Forensic Accounting in Education:

Although there is a growing demand for fraud and forensic accounting globally, much of its advancement and adoption in the accounting curriculum in the universities are taking place in the developed economies. The adoption of forensic accounting into the universities accounting curriculum has a huge potential to enhance students’ skills and competencies and could be used as a veritable resource from which fraud could be mitigated.

Many cases reveal that those who commit fraud are not necessarily geniuses or have a creative mind. They are typical accountants who copy fraud schemes from the past. Therefore, the importance of the programs for fraud prevention/detection education and training is emphasized, and the question is raised about whether the business school at universities offers enough programs to educate accounting and auditing professionals for fraud prevention/detection.

Forensic Accounting is not only restricted to university programs, there is also a specialized certificate that is concerned with forensic accounting, which is the Diploma in Investigative & Forensic Accounting (DIFA) program. DIFA is designed to provide a broad range of knowledge and skills to carry out financial investigations. This range includes accounting, audit, income tax knowledge, fraud knowledge, knowledge of law and rules of evidence, an investigative mentality and critical skepticism, understanding of psychology and motivation, and strong communication skills.

The DIFA program focuses on knowledge and skills that can be best taught and examined in person: such as handling a face-to-face meeting with a client, interviewing skills, and testifying in court as an expert witness.

In conclusion, the base of forensic accounting is a knowledge in accounting, auditing, internal controls, risk assessment and fraud detection, a basic understanding of the legal environment since the legal environment is essential in order to support the litigation, acknowledging their competence, obtaining a diploma specialized in forensic accounting which could be given by educational institutions that grant certifications such as DIFA. These formal certificates can deepen the students’ knowledge and sharpen their skills in forensic accounting.

C. Forensic Accounting in Management:

Poor corporate governance will lead a certain individual or a group of people with the same interest to act upon it to commit fraudulent activities in the company. This can be reinforced by the fact that top-level management should follow the policies of the firm, which will help the company to perform better.

Even if a company applies good internal control systems, the management will still be the major factor influencing the implementation. Companies should look towards new approaches rather than follow the traditional approach, as forensic accounting may be the next best alternative in resolving problems.

Loebbecke and Willingham (1998) conclude that the probability of material financial misstatements due to fraud is a function of three factors. The factors include the degree to which those in authority in an entity have reason to commit management fraud, the degree to which conditions allow managerial fraud to be committed, and the extent to which those in authority have comply to ethical values that would facilitate fraud commitment. These three factors show that the management could simply commit fraudulent activities since the public including shareholders are unaware of the countermeasure to be taken to prevent financial crimes. It argues that there should be a set of guidelines created for the public and management to ensure that actions should be taken when financial fraudulent activities occur.

The main problem or issue is the constant misunderstanding of the role and responsibility of the auditor as the public expects auditors to detect financial asset misstatement or even fraudulent activities from the financial statements. This has been the long perception of what an auditor’s responsibilities are. Therefore, this perception should be regenerated and corrected. Auditors with forensic accounting background would be allotted as forensic accountants specifically to investigate the company’s financial statement. These people would be responsible for detecting financial misstatements. With the proper education given to the public, this perception of auditors could be enhanced.

D. Forensic Accounting in Government and Legislation:

Forensic accounting has played a major role in the improvement of detection, investigation, and representation of all cases at hand in law courts in judicial formalities.If companies wish to utilize information regarding a fraudulent activity in a court law, they may acquire the skills of forensic accountant because they can handle investigations in a way that is completely acceptable in a court of law.

Forensic accounting is the specialty practice area of accountancy that describes engagements resulting from actual or anticipated disputes or litigation. “Forensic” means “suitable for use in a court of law,” and it is to that standard and potential outcome that forensic accountants generally have to work. Forensic accountants often have to give expert evidence at the eventual trial.

Forensic accounting should be part of criminal investigation, for the matters relating to financial implications where the report of forensic accountants must be considered as evidence and proof to be presented in court trials.

Countries that established forensic accounting in their legal system, have forensic accountants who work with law enforcement and the district attorney’s office. Just as with other types of evidence, the prosecution obtains search warrants to locate financial information and compel knowledgeable people to conduct or hold interviews about the situation in question.

Forensic accountants can also provide litigation support. Attorneys engage the services of forensic accountants to review existing documentation and testimony and explain their financial significance. A forensic accountant can tell the attorney about the additional information needed to prove the case and questions to ask the witnesses. The forensic accountant may also review damaged reports and state whether the report was put together accurately and supports the case.

Government agencies like the FBI, the Internal Revenue Service, and the Bureau of Alcohol, Tobacco and Firearms have forensic accountants to investigate everything from money laundering and identity-theft-related fraud to arson for profit and tax evasion. Law firms often use forensic accountants to help divorcees uncover their exes’ hidden assets.

Conclusion

This article deals with the importance of having an investigative system that would limit the frequent financial frauds and business opacity taking place worldwide. In this context, forensic accounting has been presented as a tool to inhibit the prevailing frauds, money laundry and theft. However, to the reap better results forensic accounting must be properly diffused and implemented with a great emphasis on enhancing public (cultural) awareness, attributing a major role to managements, education and governments/legislation.

For instance, the public may be unaware of the significance of forensic accounting and may lack the needed knowledge for implementing it in investigative matters. Thus, the need to incorporate forensic accounting in the culture of financially corrupted countries in order to create awareness of forensic accounting as an anti-fraud tool and the means of implementing it in the investigation of financial statements. This step can be handled by government and legislation as primary facilitators.

Furthermore, the importance of adopting forensic accounting in the universities’ accounting curriculum is highlighted especially that the demand for it is increasing gradually. Such adoption has a huge potential to enhance students’ skills and competencies and could be used as a veritable resource from which fraud could be mitigated. Fresh graduates can as well attain a diploma in Investigative & Forensic Accounting (DIFA) program that provides a broad range of knowledge and skills to carry out financial investigations.

As for managements, there is a need to develop a proper corporate governance and internal control systems in which those of high authority are held liable and responsible for any fraudulent and unethical misbehavior.

In sum, it is somehow a long process to start incorporating forensic accounting in academic curricula. A first step that needs to be established is creating awareness on ethical issues. As it was discussed, cultural shifts towards the importance of FA is must be maintained, governments, legislation, educational systems as well as managements should share their part in the diffusion and implementation of forensic accounting.

References

Farrell, B. R., & Healy, P. (2000). White Collar Crime: A Profile of the Perpetrator and an Evaluation of the Responsibilities for its Prevention and Detection.

Gilbert (1997), Law Dictionary, Harcourt Brace Legal and Professional Publications.

Kohl A. N., Arokiasamy L., Ah Suat C.L. (2009). Forensic Accounting: Public Acceptance towards Occurrence of Fraud Detection

Loebbecke, J.K, Eining, M.M. Willingham, J.J. (1989). Auditor’s experience with material Irregularities.

Maranjan, S. (2010). The surprising plaque killing retailer profits.

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