Professional Ethics and Responsibilities
Expert-defined terms from the Certified Professional in Forensic Accounting and Fraud Prevention course at London School of Business and Administration. Free to read, free to share, paired with a globally recognised certification pathway.
Accountability refers to the obligation of individuals or organizations t… #
Related terms include answerability, responsibility, and transparency. In the context of forensic accounting and fraud prevention, accountability is essential to ensure that individuals and organizations are held responsible for their actions and that they are transparent in their dealings.
Accounting Ethics refers to the code of conduct that guides the be… #
Related terms include professional ethics, moral principles, and standards of practice. Accounting ethics is essential to ensure that accounting professionals maintain the highest level of integrity and objectivity in their work.
Audit Committee refers to a committee of the board of directors of an org… #
Related terms include board of directors, financial reporting, and internal control. In the context of forensic accounting and fraud prevention, the audit committee plays a crucial role in ensuring that the organization's financial statements are free from material misstatements and that the organization has effective internal controls in place.
Auditing Standards refer to the standards that guide the audit pro… #
Related terms include generally accepted auditing standards, independence, and objectivity. Auditing standards are essential to ensure that audits are conducted in a professional and independent manner and that the results of the audit are reliable and accurate.
Certified Forensic Accountant refers to a professional who has obtained a… #
Related terms include credentials, expertise, and professional certification. A Certified Forensic Accountant has the knowledge and skills to investigate and analyze financial data and to provide expert testimony in court.
Certified Fraud Examiner refers to a professional who has obtained a c… #
Related terms include credentials, expertise, and professional certification. A Certified Fraud Examiner has the knowledge and skills to investigate and analyze financial data and to provide expert testimony in court.
Code of Ethics refers to a document that outlines the ethical prin… #
Related terms include professional ethics, moral principles, and standards of practice. A code of ethics is essential to ensure that professionals maintain the highest level of integrity and objectivity in their work.
Compliance refers to the process of ensuring that an organization is in <… #
Related terms include regulatory requirements, internal control, and risk management. In the context of forensic accounting and fraud prevention, compliance is essential to ensure that an organization is operating within the boundaries of the law and that it has effective internal controls in place.
Corporate Governance refers to the system of rules , practices</… #
Related terms include board of directors, executive management, and shareholders. In the context of forensic accounting and fraud prevention, corporate governance is essential to ensure that an organization is operating in a transparent and accountable manner.
Due Diligence refers to the process of conducting a thorough investiga… #
Related terms include research, verification, and validation. In the context of forensic accounting and fraud prevention, due diligence is essential to ensure that an organization or a transaction is legitimate and that it does not pose a risk to the organization or its stakeholders.
Ethical Dilemma refers to a situation in which an individual or an organi… #
Related terms include values, principles, and decision making. In the context of forensic accounting and fraud prevention, ethical dilemmas can arise in situations where an individual or an organization is faced with a conflict between their professional obligations and their personal interests.
Financial Forensics refers to the application of forensic accounti… #
Related terms include fraud examination, forensic accounting, and investigative techniques. Financial forensics is essential to ensure that financial data and transactions are accurate and reliable and that any potential fraud or irregularities are identified and addressed.
Forensic Accounting refers to the application of accounting and <b… #
Related terms include fraud examination, financial forensics, and investigative techniques. Forensic accounting is essential to ensure that financial data and transactions are accurate and reliable and that any potential fraud or irregularities are identified and addressed.
Fraud refers to the intentional act of deception or misr… #
Related terms include deception, misrepresentation, and unlawful activity. In the context of forensic accounting and fraud prevention, fraud can take many forms, including financial statement fraud, asset misappropriation, and corruption.
Fraud Examination refers to the process of investigating and an… #
Related terms include forensic accounting, financial forensics, and investigative techniques. Fraud examination is essential to ensure that financial data and transactions are accurate and reliable