China Needs Forensic Accounting Education
ABSTRACT
White-collar crime causes the most economic harm to the finance world. It is the white collar criminals who steal our pensions, bankrupt companies, destroy thousands of jobs and shatter people’s dreams. Forensic accounting practice has emerged in the areas of litigation support consulting, expert witnessing, and fraud investigation. Although forensic accounting practice is viewed as one of the most rewarding and secure career choices, there is a gap between forensic accounting practice and education. Furthermore, the evidence of forensic accounting practice and education in China is rare. Thus, the primary purposes of this paper are to: 1) describe areas of forensic accounting practices in China; 2) examine the demand for and interest in forensic accounting practices and education in China: and 3) present the most relevant forensic accounting topics to be integrated into the Chinese business curriculum. To achieve study purposes a survey is conducted to bring insights experts on the demand, relevance, benefits, coverage, and delivery of forensic accounting materials to accounting professionals in China. Results indicate that : 1) the demand for and interest in forensic accounting education and practice in China will continue to increase; and 2) many of the suggested forensic accounting topics should be integrated into business and accounting curricula in China. The findings can be of great benefit to business colleges and accounting schools as well as accounting students, and employers of accounting graduates in China.
White-collar crime causes the most economic harm to the finance world. It is the white collar criminals who steal our pensions, bankrupt companies, destroy thousands of jobs and shatter people’s dreams. Forensic accounting practice has emerged in the areas of litigation support consulting, expert witnessing, and fraud investigation. Although forensic accounting practice is viewed as one of the most rewarding and secure career choices, there is a gap between forensic accounting practice and education. Furthermore, the evidence of forensic accounting practice and education in China is rare. Thus, the primary purposes of this paper are to: 1) describe areas of forensic accounting practices in China; 2) examine the demand for and interest in forensic accounting practices and education in China: and 3) present the most relevant forensic accounting topics to be integrated into the Chinese business curriculum. To achieve study purposes a survey is conducted to bring insights experts on the demand, relevance, benefits, coverage, and delivery of forensic accounting materials to accounting professionals in China. Results indicate that : 1) the demand for and interest in forensic accounting education and practice in China will continue to increase; and 2) many of the suggested forensic accounting topics should be integrated into business and accounting curricula in China. The findings can be of great benefit to business colleges and accounting schools as well as accounting students, and employers of accounting graduates in China.
Cite this paper
Rezaee, Z. , Ha, M. and Lo, D. (2014) China Needs Forensic Accounting Education. Open Journal of Social Sciences, 2, 59-65. doi: 10.4236/jss.2014.25013.
Rezaee, Z. , Ha, M. and Lo, D. (2014) China Needs Forensic Accounting Education. Open Journal of Social Sciences, 2, 59-65. doi: 10.4236/jss.2014.25013.
References
[1] Rezaee, Z. (1992) Forensic Accounting: Challenges and Opportunities. The Ohio CPA Journal, 33-37. [2] Rezaee, Z. and Riley, R. (2009) Financial Statement Fraud: Prevention and Detection. 2nd Edition, John Wiley & Sons, Inc., Hoboken. [3] Rezaee, Z., Crumbley, L. and Elmore, R. (2004) Forensic Accounting Education: A Survey of Academics and Practitioners. Advances in Accounting Education Teaching and Curriculum Innovations, 6, 193-232. http://dx.doi.org/10.1016/S1085-4622(04)06010-9 [4] Committee of Sponsoring Organizations of the Treadway Commission (COSO) (2010) Fraudulent Financial Reporting: 1998-2007: An Analysis of U.S. Public Companies. www.coso.org [5] Securities and Exchange Commission (SEC) (2012) Accounting and Auditing Enforcement Release No. 34261, December 3, 2012. File No.3-15116. www.sec.gov [6] Guo, Z., Wang, D., Ji, L. and Dang, X. (2005) A Comparison between Forensic Accounting and Judicial Accounting. Journal of Beijing Jiaotong University (Social Sciences Edition), 4. [7] Sui, H. (2013) The Development Way of Forensic Accounting in China. Accounting and Finance Research, 2, 119- 122. http://dx.doi.org/10.5430/afr.v2n3p119 [8] Zhang, D. and Zhang, K. (2010) Forensic Accounting: Legal Consideration and System Construction. Caikuai Yuekan (Monthly Journal of Accounting), 9, 6-8. [9] Zhang, B.H. (2010) Related Discussion about the Forensic Accounting Litigation Support Service. Caikuai Yuekan (Monthly Journal of Accounting), 4, 17-18. [10] Hao, X. (2010) Analysis of the Necessity to Develop Forensic Accounting in China. International Journal of Business and Management, 5, 185-187. [11] Hu, M. (2011) Post-Enron Forensic Accounting Development—Key Factors Analysis and Suggestions. Caikuai Yuekan (Monthly Journal of Accounting), 8, 71-74.
[1] Rezaee, Z. (1992) Forensic Accounting: Challenges and Opportunities. The Ohio CPA Journal, 33-37. [2] Rezaee, Z. and Riley, R. (2009) Financial Statement Fraud: Prevention and Detection. 2nd Edition, John Wiley & Sons, Inc., Hoboken. [3] Rezaee, Z., Crumbley, L. and Elmore, R. (2004) Forensic Accounting Education: A Survey of Academics and Practitioners. Advances in Accounting Education Teaching and Curriculum Innovations, 6, 193-232. http://dx.doi.org/10.1016/S1085-4622(04)06010-9 [4] Committee of Sponsoring Organizations of the Treadway Commission (COSO) (2010) Fraudulent Financial Reporting: 1998-2007: An Analysis of U.S. Public Companies. www.coso.org [5] Securities and Exchange Commission (SEC) (2012) Accounting and Auditing Enforcement Release No. 34261, December 3, 2012. File No.3-15116. www.sec.gov [6] Guo, Z., Wang, D., Ji, L. and Dang, X. (2005) A Comparison between Forensic Accounting and Judicial Accounting. Journal of Beijing Jiaotong University (Social Sciences Edition), 4. [7] Sui, H. (2013) The Development Way of Forensic Accounting in China. Accounting and Finance Research, 2, 119- 122. http://dx.doi.org/10.5430/afr.v2n3p119 [8] Zhang, D. and Zhang, K. (2010) Forensic Accounting: Legal Consideration and System Construction. Caikuai Yuekan (Monthly Journal of Accounting), 9, 6-8. [9] Zhang, B.H. (2010) Related Discussion about the Forensic Accounting Litigation Support Service. Caikuai Yuekan (Monthly Journal of Accounting), 4, 17-18. [10] Hao, X. (2010) Analysis of the Necessity to Develop Forensic Accounting in China. International Journal of Business and Management, 5, 185-187. [11] Hu, M. (2011) Post-Enron Forensic Accounting Development—Key Factors Analysis and Suggestions. Caikuai Yuekan (Monthly Journal of Accounting), 8, 71-74.