Analysis and Critique of Current Fraud Cases

Current Fraud Cases And Forensic Accounting Name: Institution: Abstract This article is a proposal of research on the current and ongoing fraud cases as well as the forensic accounting. There is a list of suitable methods proposed to be used in order to accomplish the research effectively. Through the survey study, the researcher intends to satisfactorily deliver the reliable results because of the access to primary data, although secondary data will also be useful. Questionnaires and interviews would be used through opportunistic sampling design, where each group of the target population will be divided according to ranks and separately. A descriptive literature review of the cases of fraud and forensic accounting is included to help in reviewing other articles relevant in the research. . Researching the Current Cases of Fraud and Forensic Accounting Introduction Fraud cases have been recorded to increase at a very high rate in the current days, and fears are that the trend is likely to continue. Numerous businesses and companies as well as individuals are falling victims to various kinds of frauds, which affects their status in a great way. Fraud can be termed as any activity that a company or individual may take in an illegal or dishonest manner designed to offer a benefit to the perpetrating company or individual (Nguyen, 2010). The schemes of corporate fraud are beyond of range employee’s stated position, which are marked by the complexity as well as economic impact on the companies, other employees and external parties. Therefore, there is an increased need to make a research proposal on the current cases of fraud and forensic accounting. This information would be very relevant to the Financial Fraud Program since it would detect and prevent the increasing cases of fraud, after learning the expertise used by the fraudsters. The proposal of conducting this research contains a literature review, which is significant in reviewing other studies concerning the causes of current fraud and the effects of forensic accounting on it. This would draw a development point for personal research and possible solutions for the same. The research will be effectively be conducted through a prepared work plan, where survey is selected as the most suited for research, accompanied by appropriate tools and methods of data collection, sampling design and target population. Statement of problem Many businesses and individuals continue to fall victim of fraud and this contains a negative result to both the primary victims as well as the economy of the region. Regardless of the continuous rise of crime and endless investigations, no records have been entrusted for a possible solution to this unlawful problem. Thus, various kinds of fraud such as the white-collar crime and corporate fraud have deprived businesspersons and companies some peace of mind since they may not been in a position to identify the genuine persons or companies from the fraudsters. The white-collar crime which was named so by Edwin Sutherland for the main reason of using trickery and deception, unlike the common robbery have deprived individuals and companies billion of dollars. To make things worse, the fraudsters escape with all that amount of money without a trace(O'Gara, 2004). This has been a great challenge even for government bodies because they become helpless in such cases, where a corporate robber may have victimized thousands of people and thus deteriorating the economy. Moreover, there has not been an adequate team to assignable for conducting this research for the perceptions that avoiding or controlling this kind of crime is impossible. The corporation’s integrity is usually equalized with the behavior of the leadership involved. There have been numerous tragic and dramatic instances of corporate fraud performed by senior executives of certain companies. The very trusted executives decide to compromise the corporations that they have been entrusted to lead and effectively affecting the shareholders that naively put their confidence in the leadership integrity. Moreover, some accounting forms that were given the duty of protecting public interest have also been involved or participated in justice obstruction. The current cases of fraud is mainly based on professionalism and unlike the normal robbery where one person may be affected, this one affects numerous lives. This is because if a certain company becomes a victim to fraud and loses billion of dollars, then the company may not be in a position to sustain some employees. This may result to poor standards of living and desperation that may contribute to health problems such as stress and depression. In addition, the number of fraudsters and the cases is getting increasingly high because they are rarely traced for the arrest to be done, as they ensure that there is less proof of the conduction of their crime. The corporate fraudsters have a historic record and are known to create public scandals, which have victimized the society from a psychological, economic as well as political perspective. The organization’s employees as well as the investors are likely to suffer the consequences of fraud activities. Objectives There is a personal proposal to review all the necessary literature that concerns the ongoing cases of fraud as well as the forensic accounting and there is an expectation of achieving a number of objectives that includes; To conduct a research that offers awareness of the fraud crimes that is slowly deteriorating the world’s economy through the results of the research. To bring forth an understanding of the way these fraudsters work towards victimizing companies and individuals. To develop knowledge that promotes a business arena that is free from fraudsters in order to enhance or restore the former trust and confidence that existed amongst the business dealers. To produce results that will show the statistics of the cases of fraud per years in the country and cases of people arrested for the same. To bring about the knowledge that would be a starting point of creating measures of stopping the fraud crimes committed especially the white-collar crimes. To help in communicating the tendencies of the fraudsters and those of the victimized people so that they would resist them after making evaluations. To come up with clear information that would help the respective people to consider ways of capturing the fraud perpetrators in order to bring them to book. The research likely to be conducted will contain significant information that will be helpful to most businesspersons as well as companies as the potential tactics of the fraudsters will be evident and thus reducing the rate of victimization. This would assist in enhancing the world’s economy as many companies have collapsed and this becomes a loss even to the benefiting government bodies. In addition, the research will cover through the research of literature materials all the ways used by the fraudsters to steal from the people, bringing an understanding of the way...