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I have a problem with this topic again. It concerns the question December 2008 no2. It says to explain the steps involved in a forensic investigation into the payroll fraud, including examples of procedures that could be used to gather evidence.
I know the steps but my problem is why when doing the planning stage it said identifying the type of fraud, how long it has been operating and how it has been concealed but when doing the gathering evidence stage it said it has to gather sufficient evidence to determine that a fraud has taken place, the identity of the fraudster and to determine the financial loss suffered. Why?
If in the exam in planning stage the objective is to quantify the financial loss suffered then when arriving at the evidence gathering stage, should i say to obtain sufficient evidence to determine that a fraud has taken place, the identity of the fraudster and to determine the financial loss suffered and include examples of procedures on these or obtain evidence only to determine the financial loss suffered?
I looked at the answer, read the technical articles on forensic accounting but i can’t understand this part of the question.. Please help in the questions i ask..
Sam, you’re getting wrapped up in semantics! At the planning stage, you need to plan how you are going to “identify the type of fraud, how long it has been operating and how it has been concealed”
At the evidence gathering stage you are going to put into practice those steps that your plan has planned for and, in particular, you are going to “gather sufficient evidence to determine that a fraud has taken place, the identity of the fraudster and to determine the financial loss suffered”
At the planning stage, you need to be working out the way in which you are going to “quantify the financial loss suffered” so that, in the evidence gathering stage you will be able to take the steps necessary to “obtain sufficient evidence to determine that a fraud has taken place, the identity of the fraudster and to determine the financial loss suffered”
Planning is planning! Evidence gathering is putting into practice what you have planned to do
Is that better?
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