FORENSIC ACCOUNTANTS AND ELECTRONIC TURNOVER OF DOCUMENTS IN THE CRIMINAL PROCESS

Abstract

Today, forensic accounting is a fully formed profession that has evolved as the business world has changed and progressed, both domestically and internationally. Technology emerging trend that could point to developments in the coming decade. Forensic accountants are increasingly relying on and developing new uses for technology. This augments the required skill set from pure critical analysis to working knowledge of technical aspects such as data set management, various data sources, normalization techniques, visualization, and delivery of analysis that goes beyond the plain numbers. Increasingly in the past few years, information system professionals have also entered the field of forensic accounting, augmenting their skill sets with forensic computing, electronic discovery, data mining, and data visualization. Finding fraud in the world of big data requires new skillsets above and beyond basic forensic accounting, including the ability to develop machine-learning-capable artificial intelligence and other custom tools to detect irregularities amidst vast amounts of digitised financial data. Because this is such specialised knowledge, it’s increasingly necessary to build teams that combine traditional forensic accounting skills with tech talent. The Verkhovna Rada is considering an urgent Draft Law on Amendments to the Criminal Procedure Code of Ukraine on the introduction of information and telecommunication system of pre-trial investigation 5246 dated 15.03.2021. The bill, in particular, provides: • functional purpose of the information and telecommunication system of the pretrial investigation; • providing access to materials stored in the information and telecommunication system of the pre-trial investigation; • the possibility of integrating the information and telecommunication system of the pre-trial investigation with other information, information and telecommunication systems in cases provided by law. The adoption of such a law will create a legal basis for the introduction and operation of the information and telecommunications system of pre-trial investigation, storage of information in criminal proceedings and reducing the volume of paperwork in the pre-trial investigation. The rapid conversion of accounting and other records from paper-based systems to electronic systems, coupled with the explosion in the quantity and types of electronic data, has resulted in many changes in the field of forensic accounting and the requirements for investigations. Expertise in the evaluation and handling of electronic evidence is just one way in which forensic accounting has evolved. Focused and efficient use of data analytics as well as the ability to mine a universe of publicly available yet critical information regarding subjects, companies and their relationships are two additional ways in which forensic accounting has matured. On the other hand, operating within a web of global data privacy and other complex regulatory constraints can complicate the job of the forensic accountant.