The Theory of Profession: Accountability, qualifications, entry and ethics - a preliminary discussion and early findings on the current state of forensic accountancy in Australia

Abstract: This paper presents an exploratory study on the current structure of the forensic accounting industry in Australia. Extant literature identifies the complex nature and role of forensic accountants, and identifies the broad areas of expertise that may be required of a forensic accountant due to the many services they offer. Using the Theory of Profession to guide data collection and analysis from archival research, Australian forensic accounting websites were analysed using qualitative content analysis to determine whether this relatively new career path can be considered a ‘profession’ in its own right. Findings demonstrate that there is a lack of consistency within the industry in regard to formal qualifications, skills and experience. Further, there is no formal control of entry, and although the ICAA created the Forensic Accounting Special Interest Group (FASIG) to address such issues, only forensic accountants choosing to join this group are held accountable for their actions