Adapting and keeping up to date with
technology has always been an important factor in business, this applies no
less in the field of law. The revised edition of APES 215 brought in changes to
strengthen the role of the forensic accountant in both quality and ethical
standards.
Forensic accounting is still a growing occupation
and with that the laws and standards that govern it are always changing. The
most recent development of the regulatory environment was designed to be in the
best interest of the profession, society and a court of law. With stricter
rules in place this makes sure that the expert report is of high standard for
it to be court ready. The revised edition of APES 215 provides clarity over the
original 2008 edition in order to push towards Independence and Objectivity to avoid
the risk of partisan or other concerning issues.
First entering into university, many of me
assignments I had to do was research and apply different accounting standards
to a case. At first I was overwhelmed by the numerous standards a business has
to comply with; APES, ASIC, AASB, Corporations Act, Taxation law etc. Blame
partly due to my inexperience, I think that when I enter into the work force I
would need to get acquainted with the latest standards in order to conduct
myself professionally.
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