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| Honourable Kirby AC CMG |
Due to the dramatic technology changes occurring in
the accounting environment, Honourable
Kirby has considered that the need for forensic accountants to address the
changes in the regulatory environment is of utmost importance to further
strengthen the profession (2011, para. 9).
Today the challenge for forensic
accountants is to keep up to date with the APES
215 Standards for the Provision of Quality and Ethical Forensic Accounting
Services (Accounting Professional and Ethical Standards Board, 2013). As
the professional standards become stricter, forensic accountants must
recognise the development of this new regulatory environment in response to
meet the demands in an accounting investigation and the many different services
performed (Bawaneh, 2011). Failure to do so can result in a breach of standards
following the termination of one’s job.
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| Misinterpretation of regulations - Mark Anderson |
2 years ago, a family friend didn’t
recognise the updated regulations placed by her new boss and lost her job because she actually ended up unintentionally breaching them. Back
then, I felt like she was treated unfairly
but as I am writing this blog, I’m beginning to understand that a breach in
workplace regulations can result in job loss.
It is recommended that as an
employee, it is your job to keep informed with the workplace regulatory
environment and the expectations of your profession. If you are unsure of
anything, always ask to prevent breaches from occurring!
It is better to be
safe than sorry!
References:
Accounting Professional and Ethical
Standards Board. (2013). APES 215
Forensic Accounting Services [Supersedes APES 215 Forensic Accounting
Services issued in December 2008]. Retrieved from http://www.apesb.org.au/download.php?code=680
Bawaneh, S. S. (2011). Forensic Accountants
in the Digital Age. Interdisciplinary
Journal of Contemporary Research in Business, 3(3), 75 – 81.
The Honourable Kirby AC CMG. (2011, March).
Forensic Accounting – New rules and
opportunities. Conference held at Hilton Hotel, Sydney. Retrieved from http://www.michaelkirby.com.au/images/stories/speeches/2000s/2011/2525-FORENSIC-ACCOUNTING-CONF-MARCH-2011.pdf
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