ABSTRACT

Forensic accounting is the use of accounting skills to investigate fraud, embezzlement and other irregularities hidden as financial transactions. Furthermore, it is also used to assist in disputes that are likely to involve litigation, arbitration, expert determination, mediation, or an inquiry by an appropriate regulatory authority. Education in underdeveloped nations such as the Philippines. Hence, this was to determine the level of readiness of forensic accounting among Certified Public Accountants (CPAs) in public practice.

The researchers utilized a quantitative descriptive method using questionnaires to the respondents determined with judgemental or purposive sampling to assess and gather the 52 respondents’ data effectively across Bohol.

The results uncovered that a plurality of CPAs in public practice are partially ready to apply forensic accounting, specifically in the areas of litigation support, investigation, and dispute resolution. The study also revealed that most respondents are unaware and have little to no experience in the forensic services due to lack of education and training. Further, the data also shows that the CPAs in public practice agreed that their core skill and enhanced skill are ready to be applied in forensic accounting since the skills needed in detecting fraud are present within their scope of practice and most of the skills are developed and studied throughout their academic and professional life.

College of Business and Accountancy Bachelor of Science in Accountancy