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Should the forensic accounting profession be regulated?

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  • Huber, Wm. Dennis

Abstract

Adopting Huber’s (2012) argument that forensic accounting has become a profession, this paper examines whether the forensic accounting profession and the forensic accounting certification industry should be regulated. Several recent studies have uncovered significant problems within the forensic accounting profession and the forensic accounting certification industry. The failure of forensic accounting corporations to disclose either their legal status or the qualifications of their officers and directors, their failure to publish financial statements, and their failure to adopt or enforce a Code of Ethics or Standards of Practice, were among the most significant problems uncovered. The failures of the corporations were exacerbated by forensic accountants’ failure to investigate diligently the corporations that issued their certifications prior to obtaining their certifications. This resulted in a significant number of forensic accountants holding certifications from corporations that were inconsistent with their beliefs that a forensic accounting corporation should be not-for-profit, and their officers and directors should be qualified.

Suggested Citation

  • Huber, Wm. Dennis, 2013. "Should the forensic accounting profession be regulated?," Research in Accounting Regulation, Elsevier, vol. 25(1), pages 123-132.
    • Handle: RePEc:eee:reacre:v:25:y:2013:i:1:p:123-132
    DOI: 10.1016/j.racreg.2012.11.006
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    References listed on IDEAS

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    1. Dellaportas, Steven & Davenport, Laura, 2008. "Reflections on the public interest in accounting," CRITICAL PERSPECTIVES ON ACCOUNTING, Elsevier, vol. 19(7), pages 1080-1098.
    2. Edwards, James Don, 1958. "Public Accounting in the United States from 1913 to 1928," Business History Review, Cambridge University Press, vol. 32(1), pages 74-101, April.
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    Cited by:

    1. Mohammad Enizan Al-Sharairi, 2018. "The Role of Forensic Accounting in Limiting Tax Evasion in the Jordanian Public Industrial Shareholding Companies through the Perspective of Jordanian Auditors," International Journal of Economics and Finance, Canadian Center of Science and Education, vol. 10(1), pages 233-243, January.
    2. Herbei (Mot) Ioana & Cernusca Lucian, 2015. "Perceptions Regarding Treatments And Creative Accounting Policies," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 2, pages 173-187, April.
    3. Winfield Joanne & Roberts Martin, 2023. "Forensic Accounting: Time for a Unified Global Approach," Journal of Forensic Accounting Profession, Sciendo, vol. 3(1), pages 38-56, June.
    4. Varaidzo Denhere, 2023. "The state of forensic accounting: South Africa versus the United States of America," International Journal of Research in Business and Social Science (2147-4478), Center for the Strategic Studies in Business and Finance, vol. 12(7), pages 332-344, October.
    5. Hegazy, Sarah & Sangster, Alan & Kotb, Amr, 2017. "Mapping forensic accounting in the UK," Journal of International Accounting, Auditing and Taxation, Elsevier, vol. 28(C), pages 43-56.

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