Technological advancements in the field of forensic accounting : a case study

Abstract

Purpose: The primary objective of this study is to capture an in-depth understanding and evaluation of advanced technology within forensic accounting investigations in a local mid-tier firm. It attempts to explore the forensic accounting investigation process within the firm as well as the role of technology throughout the process. Moreover, it seeks to evaluate the effect and contribution of eDiscovery technology to the forensic investigation department within the mid-tier firm. Design: To achieve these objectives, the researcher implemented a qualitative research approach. A total of six semi-structured interviews were conducted with key personnel within the mid-tier firm under review, one of which is a digital forensic expert. The findings were analysed and discussed with reference to relevant literature on the subject area. Findings: This study deduced that the firm under review has invested in a strong eDiscovery technology, enabling it to be more efficient in its investigations and thus, more competitive in the industry. It also makes it more credible in the law court since technology maintains a clear chain of custody. However, technological advancements require the firm to update technology and upskill staff in becoming more IT literate. Additionally, since locally technological expertise in this area is lacking, being part of an international network is beneficial. Conclusions: The study identified that although sophisticated technology is significantly important in forensic accounting investigations certain advanced technology pose challenges and need to be addressed by the firm accordingly. Value: The study adds on to the current literature dealing with advanced technology in forensic accounting within mid-tier firms. If implemented, the proposed recommendations of this study can assist firms offering forensic accounting services and firms that are thinking of offering such services.