Forensic accounting corporations' codes of ethics and standards of practice - a comparison

Wm. Dennis Huber

International Journal of Accounting, Auditing and Performance Evaluation, 2013, vol. 9, issue 2, 126-152

Abstract: This is the first study to critically compare the codes of ethics and standards of practice of forensic accounting corporations and whether forensic accountants understand the difference between the codes and standards. This study examines the extent to which forensic accountants are knowledgeable about forensic accounting corporations' codes and standards, and whether they are able to differentiate the differences between them. A survey of 182 forensic accountants found that a significant number of forensic accountants did not investigate the codes and standards prior to receiving their certifications. The results further revealed that a significant number of forensic accountants incorrectly believe that the codes and standards are substantially similar when they are significantly different. This raises questions regarding forensic accountants' investigative ability. It raises further questions concerning forensic accountants' commitment to maintaining high ethical standards and standards of practice. The results suggest a need for reform within the forensic certification industry, for the establishment of an independent agency to monitor and accredit forensic accounting corporations and their certifications, or alternatively for state or federal regulations to enforce minimum standards for forensic accounting corporations and the certifications.

Keywords: forensic accountants; forensic accounting corporations; codes of ethics; standards of practice; certification; investigative ability; ethical standards. (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:ids:ijaape:v:9:y:2013:i:2:p:126-152

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