What an effective corporate control of forensic auditing means to companies.

Written by:Diomer Antonio Galán Rincón.

Bachelor's Degree.Public Accounting / MSc.Science of Higher Education.

Accounting is known in the organizational field as the language of economics and business, however, in recent years it has become a transcendental aspect, since it acts as an intermediary between economic agents, influencing the redistribution of wealth and the allocation of resources. on the redistribution of wealth and the allocation of resources.

Such is the transcendence or relevance achieved by accounting information in the decision-making process at all levels that a series of efforts have been made to improve the quality of the information provided to internal and external users, and to make it universally comparable within the international financial markets.

However, in order for accounting to bear fruit, it is necessary to take into account the accelerated evolutionary process of the world and of a globalized market, in which many changes have evolved, in addition to the entry into the different international trade agreements, economic security is an important element in the progress of any type of business, since its growth in the market depends on it.

For this, it is convenient to specify a series of controls that allow the prevention of deviations or crimes that challenge the ethical principles and moral values of the human being, being in contact with a society full of actions that incite to illicit conducts that invade today's organizations, as referred by Cano (2004), among which stand out "administrative corruption, accounting fraud, insurance crimes, money laundering, illicit enrichment, embezzlement, bribery, embezzlement, prevarication, conflict of interest, tax crimes, tax fraud, and money laundering, among many others; that go against ethics and good customs".

In view of this reality, forensic auditing is born as a fundamental element that aims to perform evaluations or advice to different public and private organizations regarding their ability to deter, prevent, detect and proceed against different fraud actions that may affect and compromise the future of the organization.

In this sense, as expressed by Rodriguez (2007) forensic auditing is understood as "the process through which evidence is collected, evaluated and accumulated for the investigation of certain crimes, called financial or white collar, with the firm purpose of fully identifying the perpetrator or perpetrators, determine how the crime occurred and the quantification of the property damage suffered by the victim".

For this reason it is necessary to apply forensic auditing as it allows us to systematically examine the accounting, administrative and operational processes, as well as compliance with economic and financial principles, the administrative process and management policies, standards and other requirements established by the organization, ensuring compliance and preventing the detour or misappropriation of funds.

In this sense, as expressed by Rodriguez (2007) forensic auditing is understood as "the process through which evidence is collected, evaluated and accumulated for the investigation of certain crimes, called financial or white collar, with the firm purpose of fully identifying the perpetrator or perpetrators, determine how the crime occurred and the quantification of the property damage suffered by the victim".

For this reason it is necessary to apply forensic auditing as it allows us to systematically examine the accounting, administrative and operational processes, as well as compliance with economic and financial principles, the administrative process and management policies, standards and other requirements established by the organization, ensuring compliance and preventing the detour or misappropriation of funds.

I hope you like my article and I would appreciate all your comments.

1.- Cano, M. (2004). Forensic Auditing in the Criminal Investigation of Money Laundering. Colombia