Question

Do you think Fraud Examiners should have higher level accounting skills beyond the basic skills? Should Fraud Examiners have any additional qualification not currently required (ex. specific technology skills, psychology, etc)? Be sure to provide examples to back up your opinion

Answer 1

Yes, Fraud Examiners should have higher level of accounting skills that extends beyond the basic skills. This is because when Fraud Examiners have higher level of accounting skills they will be able to determine any instances where the books of accounts have been cooked, where funds have been misappropriated and when the accounts have been subjected to window dressing. It is only when Fraud Examiners have higher level of accounting skills that they will be able to detect and discover instances of fraud more appropriately. It is only with advanced knowledge of accounting skills that Fraud Examiners will be able to detect financial statements misrepresentations especially when these misrepresentations are complex and hence not easy to discover by a person with basic accounting skills.

Yes, Fraud Examiners should have additional qualification that is not currently required. A Fraud Examiner is required to have a CFE (certified fraud examiner) degree. Besides the academic degrees like the undergraduate degree and the Master’s degree) a Fraud Examiner should be having a high moral character. It is only when a Fraud Examiner has a high moral character that he/she will be able to ethically perform his/her duties. A Fraud Examiner should also be required to mandatorily have an analytical mindset and a ability to analyze complex situations.