Forensic accountants are sometimes used to
A) ensure that the accounting system adheres to GAAP.
B) track down hidden funds in business firms.
C) ensure auditors follow auditing standards.
D) ensure businesses remain profitable.
E) do all of these.

Question

Quizplus · Accepted Answer

Forensic accountants are often called upon to investigate financial crimes, including tracking down hidden funds, detecting and preventing fraud, and uncovering embezzlement. While they may also ensure that the accounting system adheres to GAAP and auditors follow auditing standards, their primary role is to investigate financial criminal activity. Therefore, the best choice is B, tracking down hidden funds in business firms.

Forensic Accountants Are Sometimes Used to