Governance and the Law

I agree with the statement that “It is extremely important for Forensic Accountants to be familiar with the law.” When a case reaches the courts, the forensic accountant may need to become an expert witness (Sanchez & Zhang, 2012) . Accounting expert witnesses in Australia are bound by APES215 and any other relevant court procedure rules (APESB, 2008) . A competent expert must make sure any relevant information within their area of expertise is identified and communicated as soon as possible to prepare the legal team (APESB, 2008) . The expert must understand that their independence and objectivity is of the upmost importance. APES215 guides forensic accountants in being able to distinguish between their legal and ethical requirements. The legal requirements of a forensic accountant involve complying with the laws of evidence and communicating findings as soon as possible. The ethical requirements as stated by CPA Australia’s policy adviser is to “act in the public ...

Risk management is a major component of IT Governance set to protect against fraud, bribery and corruption. Due to the increasing use of IT in all organisations, IT Governance must continuously evolve to manage the increasing need for higher risk management (Pasquini & Galie, 2013) . Accurate IT governance should have the ability to identify, monitor and report on the level at which IT risks are managed along with how much they need to be managed (von Solms, 2005) . HR managers can implement fraud prevention strategies such as top-down control and trust-building practices into their organisation, however these strategies do not address every aspect of fraud, like opportunity (Niehoff & Paul, 2000) . HR managers along with the use of IT Governance can effectively implement controls within an organisation to prevent fraud. COBIT 5 provides guidance through enablers to contribute to the overall governance and management of risk. Processes identify an...