Forensic accounting: Professional regulation of a multi-disciplinary field

Abstract

The regulatory environment in which accountants operate is reasonably complex. The field of forensic accounting, which is the focus of this article, elevates that complexity to a heightened level as practitioners in this field now regularly advise across a broad range of fraud, commercial disputes and analytics areas. Persons discharging these roles are drawn from the accounting and non-accounting professions and this multi-disciplinary composition and the implications that flow from this are at the heart of this study. This article examines how the overlapping of diverse occupational jurisdictions influences the professionalisation process of forensic accounting practice in Australia and how self-interest and public interest considerations impact the pursuit of independent professional status. The article identifies the complexity of the forensic accounting role due to the overlapping of other occupational jurisdictions and the challenges this creates for professional accounting bodies in their attempts to regulate and govern forensic accounting practice.