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Forensic Accounting and Auditing United Again: A Historical Perspective

Journal of Business Issues, No. 2, pp. 15-25, 2006

12 Pages Posted: 18 Jul 2010  

O. Ronald Gray

Independent

Stephanie D. Moussalli

University of Mississippi-Patterson School of Accountancy

Date Written: 2006

Abstract

This paper is a historical review and commentary on the relationship of forensic accounting and auditing. In the early years of the accounting profession, when fraud discovery was acknowledged as being one of the principal objectives of the financial audit, forensic accounting was an integral part of mainstream accounting. During subsequent decades as the accounting profession attempted to distance itself from fraud discovery responsibilities, forensic accounting became identified as a specialized subset of the profession. Now, on the heels of many embarrassing corporate failures and passage of the Sarbanes-Oxley Act, forensic accounting is being reunited with the profession. Fraud discovery is again acknowledged as one of the principal responsibilities of the auditor and the tools of the forensic accountant are now being rediscovered.

Keywords: auditing, forensic accounting, history of accounting, fraud detection, Sarbanes-Oxley

Suggested Citation

Gray, O. Ronald and Moussalli, Stephanie D., Forensic Accounting and Auditing United Again: A Historical Perspective (2006). Journal of Business Issues, No. 2, pp. 15-25, 2006. Available at SSRN: https://ssrn.com/abstract=1642100

O. Ronald Gray

Independent ( email )

No Address Available

Stephanie D. Moussalli (Contact Author)

University of Mississippi-Patterson School of Accountancy ( email )

PO Box 1848
School of Accountancy, Univ. Mississippi
University, MS 38677
United States

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