Podcast: Forensic Accounting
In the corporate world, audits and forensic accounting are used not just to identify fraud, but also to provide important financial information and transparency to stakeholders. So how does this work? What is the difference between forensic accounting and auditing? And how do forensic accountants identify red flags?
Joe Brazel, Jenkins’ Distinguished Professor of Accounting in NC State’s Poole College of Management, joins the podcast to explain.
As the term suggests, forensic accounting occurs after the fact – it’s a “postmortem” analysis of financial malfeasance.
According to Brazel, forensic accountants deal primarily with two major types of fraud: misappropriation of funds (stealing) and fraudulent financial reporting (“cooking the books”).
Listen to hear Brazel talk about the red flags that can be predictive of fraud, and associated ethical dilemmas.
