AYB115 Assessment 1

  Week 6: Civil Law and Forensic Investigation (News, n.d.) It is not a forensic accountant’s role to determine whether the opposing party is innocent or guilty, however they can assist with providing evidence that someone is guilty while also investigating the qualification of loss and damages to be paid to their client. I read a case, label makers  v LL Force, which saw two forensic accountants analyze and calculate profit margins, discount rates etc. of both parties. They were also required to give their expert opinion on the account of profits which is alternative to damages claim. The account of profits investigates weather there’s been a breach of trust of IP rights. In this case where the opposing parties both believe each other are in the wrong, the two forensic accountants assisted in proving there was an investment gain in LL Force shares (Labelmakers Group Pty Ltd v LL Force Pty Ltd) . (Singh Thakur, 2019) Forensic accountants are also required to give their expert opinio

Week 5: Criminal Fraud and the Law (Team, 2023) Boards of directors and CEOs shouldn’t be accountable for their employees’ actions according to the law; however they usually are. ‘Corporations can be liable directly or an  omission where statute imposes liability on the company’  ( Derrington, 2020 ) . This can also depend on the crime, for embezzlement, ‘If the offender is a clerk or servant, and the thing stolen is the property of the offender’s employer, or came into the possession of the offender on account of the offender’s employer, the offender is liable to imprisonment for 10 years.’ ( Legislation, 2023 ) . This is one example of how strict the commission is when it comes to these types of crimes occurring. ( Fou, 2021) We also looked into money laundering. What I found interesting was a money laundering case where a man attempted to convert $5.5 million into bitcoin. Men were found in Sydney with millions of dollars along with multiple illegal drugs, they were found after a cy