Question

1. Forensic accountants may be brought into a bankruptcy situation where fraud is suspected is occurring. Explain how fraud may be present in a bankruptcy proceeding. 2. How might an accountant with fraud examination skills be utilized by the IRS in tax audits?

Answer 1

Bankruptcy Fraud is a white - crime that commonly takes four general forms: a) A debtor conceals assets to avoid having to them b) An individual intentionally files false or incomplete forms. Including false information on a bankruptcy form may also constitute c) An individual files multiple times using either false information or real information in several d) An individual bribes a court - appointed commonly , the criminal commits one of these forms of fraud with another crime, such as identity theft, mortgage fraud, many laundering and public corruption \r\n 2) The IRS reportedly used a accounted to catch At for tax evasion when the FBI was unable to convict of others crime recently the fraudulent financial statement that led to the , world , and other corporate scandals of the early 2000s began to focus the public's attentions on what accountant can do i uncovering financial irregularities and tracing illegal financial Activities