"Forensic Accountants Must Display the Attribute of Trustworthiness

question 22

Essay

"Forensic accountants must display the attribute of trustworthiness." Explain why trust is important in any forensic accountants' professional relationships.

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Definitions:

Presentation Means

The methods or techniques used to display or convey information, ideas, or data to an audience.

Finished Goods Account

An account representing the total cost of manufactured goods that are completed and ready for sale.

Fiscal Year

A 12-month cycle utilized for the purposes of financial statements and planning budgets, not necessarily coinciding with the calendar year.

Standard Variances

Differences between planned or standard costs and actual costs in budgeting and accounting, used to monitor and control operational performance.