Skills for Detecting Frauds and Scams in Accounting: a Data-Driven Analysis

EasyChair Preprint 15618

Abstract

The rising complexity of financial systems and the surge in unethical practices have heightened the need for robust mechanisms to detect and prevent frauds and scams in India. This study explores the essential skills required by accounting and auditing professionals to effectively combat such challenges. Specifically, it investigates the significant relationships between key skill categories Analytical Skills, Communication Skills, Technical Skills, Professional Skills, and Additional Skills and their collective impact on identifying weaknesses and problems within the domain of fraud detection and prevention. Using a comprehensive analytical framework, the research examines how each skill category contributes to enhancing professionals’ ability to address financial discrepancies and mitigate risks. By employing regression analysis and correlation tests, the study provides empirical evidence of the interdependence between these competencies and their critical role in fostering a reliable financial environment. The findings underscore the importance of targeted skill development programs tailored to equip accounting and auditing professionals with the necessary tools to adapt to the evolving landscape of financial frauds. This research offers valuable insights for academicians, practitioners, and policymakers aiming to strengthen the integrity of financial reporting systems in India. The outcomes highlight the need for continuous professional education and strategic skill enhancement to safeguard economic stability and promote ethical practices in the accounting and auditing professions.

Keyphrases: Auditors, analytical skills, communication skills, creative accounting, technical skills

@booklet{EasyChair:15618,
  author    = {Shobhit Sagar},
  title     = {Skills for Detecting Frauds and Scams in Accounting: a Data-Driven Analysis},
  howpublished = {EasyChair Preprint 15618},
  year      = {EasyChair, 2024}}