Форензичко рачуноводство - одговор професије на преваре у финансијским извештајима
Forensic Accounting - The Response Of The Profession To Financial Statement Frauds

Summary/Abstract: Information about the financial status and performance of a company, which are presented in financial statements, has been of great importance for users since it represents the basis for resource allocation decision making. Accordingly, reliable and transparent financial reporting, which results in truthful and honest representation of a company’s financial achievements, is a vital determinant of financial system reliability and stability. Numerous financial frauds and scandals at the turn of this century revealed the risks of numerous users and economic decision-makers’ losing trust in the reliability of financial information withinfinancial statements. Only by revealing financial statement fraud causes and methods can the accounting profession regain the credibility of information in financial statements. Numerous financial scandals that happened in the previous period showed that the role of auditors (both internal and external) cannot be enough for fraud prevention. Consequently, the accounting profession began to utilize forensic accounting. The main task of forensic accounting is to detect and investigate financial statement frauds in accordance with legal procedures and methods. The role of forensic accounting in investigating and preventing financial statement frauds is the subject of this paper.

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