Collecting Forensic Evidence As a Corporate Controller Essay

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Collecting Forensic Evidence as a Corporate Controller for Apollo Shoes

Procedures for Collecting Forensic Evidence as a Corporate Controller for Apollo Shoes

Dealing with fraudulent practices within accounting is a daunting process. Evaluating massive amounts of data over a very short period of time must be done systematically in order to provide irrefutable evidence that either supports or denies allegations of fraud within financial reporting. Thus, it is important to effectively map out the design process of the investigation, gather data efficiently through the appropriate channels, and then evaluate data based on presumed categorical differences in order to make clear assumptions about possible financial fraud that can hold up in a court of law.

Before embarking on the actual investigation of Apollo Shoe's irregular financial presentation, it is important to clearly define the process used. Thus, before the investigation even begins, it will be crucial to set goals to frame its processes and plan accordingly to meet that goal. Setting a goal for the investigation is a crucial step in the investigation process which helps frame the planning and design of the actual investigation itself. Without the clear goal of finding irregularities that are most detrimental to the company's financial statements, the investigation would essentially be working with too broad of a spectrum. The next step in the process is then planning accordingly based on that set goal. Planning how to collect and control the large data flows involved with the investigation will help keep the investigation structured and sound, despite the large amounts of data needed to be evaluated and interpreted, which is typical for forensic fraud investigations.

After a proper plan is established, the actual conducting the investigation can take place. Gathering all necessary evidence than can later be used in court is key within the investigation process.

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Data can essentially come from anywhere. It can be communications between organizational members, or even as abstract as personal accounts of the chain of events recorded within the context of interviews. The first procedure to be used is to focus on gathering document evidence which includes a number of sources. Documents that can be considered as data can be published reports or statements, as well as internal unpublished documents that may have been circulated within the company itself (Kessler 2011). Physical evidence is still an important part of forensic investigations, yet technology is fast becoming a much more efficient data collection gatherer. This includes gathering data using technological resources, like through searching company and public databases for email and other messages, memorandums, and other communications that would help provide information as to how the financial reporting may have been manipulated, and who was involved within that potential manipulation. Access to both private and public databases can now provide a "wealth of information" (Silverstone & Sheetz 2007 p 128). Surveillance can also uncover detailed information about the wealth and financial status of particular people and organizations. Such strategies can help uncover assets, properties, and acquaintances that could possibly lead to more sources of information (Silverstone & Sheetz 2007). Moreover, in person interviews with possible participants and helps determine who could be used as a witness and who can be singled out as possible suspects.

Once data is gathered, it must run through statistical analysis in order to make assumptions regarding the possibility of fraud. A number of sampling tools can be used for the examination of such data. First, systematic random sampling is often used within forensic accounting audit evaluations. This sampling starts at a random number which will then be related back to new numbers designated in the.....

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