History of Women in Accounting – Christine Ross

 

As of the year 2020, approximately 42% of the CPAs in the United States are women. As the profession moves toward a more equal gender distribution, it is important to consider the long history of pioneering women in accounting. In the 1950s, there were approximately 600 female CPAs. Approximately sixty years before that came the first female CPA, Christine Ross.

The Earliest CPAs

 In the late 19^th century, an increasingly wealthy and industrial America needed the services of accountants. Prior to 1887, there were few standards and guidelines for accountants. With an increasing demand for professional, reputable accountants, the American Association of Public Accountants was formed in 1887 to bring stability and consistency to the profession. The American Association of Public Accountants’ solution was to establish professional standards and the designation of “Certified Public Accountant” for accountants who met those standards.

In December of 1896, the New York CPA exam was offered for the first time. Taking this inaugural exam was Christine Ross, age 23 at the time. Ross passed the exam by a wide margin, placing second in her class. Despite her resounding success, the New York Board of Regents was unsure whether a woman should hold the CPA title. This dispute among the board delayed Ross’ certification for nearly 18 months.

Despite these obstacles, Ross was issued her CPA certification in December 1899, making her the first female CPA.

 

A Career of Empowerment

 Ross’ work focused heavily on facilitating opportunities for other women. Her clients included women running businesses and key women in the fashion industry. Working with women in business created a mutually supportive relationship between Ross and her clients: businesswomen seeking women accountants and Ross helping their women-owned businesses succeed.

Wealthy women in New York brought their business to Ross, who could give them financial advice informed by the challenges women faced. Ross’ accounting services helped these women become more financially independent. Ross also used her services to support women’s organizations in New York, including those seeking suffrage for women.

Since Christine Ross’ historic CPA designation, women in accounting have made tremendous strides. The contributions made by trailblazing women in accounting paved the way for today’s women in accounting such Dee Studler and Krista Doyle, founders of SDC CPA, formerly known as  Studler, Doyle & Co.

The Different Functions of Forensic Accountants

 

Crime is as old as society, and the men who had in their hands the power to administer justice have needed to prove the innocence or guilt of those who broke the rules, either to punish the offender or to absolve the innocent. Hence, the search for the truth through the means of evidence has evolved from the old "ordeals" in which the Supreme Judge decided the innocence or guilt of a person. Currently and unanimously, the doctrine indicates that to achieve the consolidation of the Modern Criminal Procedure and the different systems that make it operational, it is necessary to rely on the cutting-edge technologies offered by forensic sciences, which represent a tool for the fight against fraud and corruption.

SDC CPA, a global investigation and forensic accounting company from Aurora, IL, provides the necessary evidence to confront crimes in the public and private sectors through investigations where opinions of technical value are issued that allow the justice to act with greater certainty. This solutions-driven company operating in the financial services arena, is focused on finding solutions for their clients and offers a range of services – from financial forensics and fraud investigation and tax management consulting to fidelity and other insurance claims. SDC CPA solves problems using unique methodologies and best practices and, backed by years of corporate experience and insight, their skilled and insightful multidisciplinary team works in close consultation with their clients to achieve just that.

Below, the forensic accounting experts from SDC CPA review the different functions that characterize Forensic Accounting Expertise. The Forensic accounting experts are auxiliary to justice and their approach is based on the questionnaire or guidelines that resolve the objectives and points decreed by a justice corporation in the midst of an assurance of evidence, litigation or other procedural assistance requirement. Forensic accounting experts help the administrations of justice, either as representatives of the courts or of the parties, in civil and criminal cases (in those jurisdictions that do rely on Private Accounting Experts) for the resolution of Money Laundering cases.

In addition, following the Forensic Anti-Fraud Auditors, they use an anti-fraud approach to clarify, rule out or technically confirm the existence of acts of Fraud, Corruption and / or Money Laundering, relating the people involved in it; issuing its independent report with the evidence of its findings, for the use of the authorities and decision-making. They also have anti-fraud training to prevent, deter and detect these scourges, strengthening the policies, procedures and internal organizational, administrative and operational controls.

As a leading provider of forensic accountancy services, SDC CPA has been providing forensic accounting services to almost every type of company, such as financial organizations, law firms, government institutions, insurance companies, equity firms, corporate counsels, venture capitalists, and the top management of companies.

Forensic Accounting vs Auditing

 

The field of accounting operates with many specializations, and forensic accounting and auditing are two of the most common. Although forensic accounting and auditing seem similar specialties, there are significant differences between the two job functions. Forensic accountants specifically search for fraudulent activity within organizations; auditors verify that companies comply with federal regulations and organization policies. Companies in need of accounting assistance must understand the difference between the two specialties.

Located in Aurora, Illinois, SDC CPA specializes in providing adjusters and attorneys global investigation and accounting services dedicated to crime, fidelity (employee dishonesty and employee theft), lack of faithful performance and commercial surety insurance claims. SDC CPA forensic auditors and accountants assist in legal processes and technical defense of a criminal, commercial, civil, administrative and judicial nature, through adversarial investigative applicability that includes knowledge and methodologies of Forensic Auditing, Forensic Accounting, Law, Theory of Evidence, Chain of Custody and Criminalistics, thus helping to promote the interests of the client.

SDC CPA - Protecting Your Business

Forensic accounting is a set of specialized accounting skills used to investigate innumerable accounting and financial matters for purposes related to legal proceedings. SDC CPA, a global investigation and forensic accounting company based in Aurora, Illinois, has its own team of forensic accountants.

Whether on a professional or personal level, sometimes things don't go as planned. This team of professional forensic accountants is on hand to help you through difficult times, providing you with ethical and detail-oriented investigative accounting services.

Forensic Audit

Forensic Audit should preferably be defined as: "technical methodology that, by combining criminal, accounting, legal, procedural and financial knowledge, is used to counter financial crimes, fraud, corruption and money laundering". It can be also defined as: a technique that aims to participate in the investigation of fraud, committed consciously and voluntarily, by people who are part of the government or companies, including individuals, through the avoidance or evasion of legal regulations.

Experts from SDC CPA, a forensic accounting firm explain that, forensic auditing is carried out as an integral part of an environment made up of a multifaceted range of professionals. These professionals include accountants, lawyers, graphical technicians, computer engineers, cryptographers, expert personnel in investigations of different security forces or organizations. These professionals operate in specialized areas such as legal offices, police, prosecutorial and judicial investigations areas.

They contribute, to the clarification of potential illegal acts or crimes, and must define or select the techniques to be used for the investigation and the creation of the technical-legal reports in which the results will be presented. SDC CPA experts point out that the financial crimes that are investigated include prevarication, concussion, blunder, illicit enrichment, ghosts operations, bribery, fraud, legal breaches, nepotism, money laundering. However SDC CPA experts indicate that the forensic audit currently extends to other areas.

Detective forensic audit

SDC CPA experts claim that the essential purpose of the forensic detective audit is to specify the occurrence of fraud through a technical analysis and in-depth investigations, in order to indicate, among other aspects, the following:

• When the fraud occurred

• How it was executed

• The defrauded amount

• Prequalification of the type of fraud

• What are the direct and collateral damages

• Identification of those who committed the fraud

• Accomplices and concealers.

The audit report

SDC CPA forensic auditors (read the reviews from clients about them), explain that the forensic auditor generally issues an audit report, which is intended to be considered in court. The court will analyze, judge and pass the respective sentence. That is why in the detective forensic audit the type of fraud is indicated, but it is not established as a financial crime. This is because the prosecutors and the courts are competent to definitively classify the fraud as a specific financial crime which is punishable, according to the corresponding laws.

SDC CPA forensic auditors share that the report must contain at least the following:


• Detailed explanation of what happened, specifying violations of internal and government manuals, anti-corruption and anti-fraud regulations, and money laundering prevention systems, pre-qualifying the typologies detected

• The amount contemplated in criminal transactions

• The supporting annexes, which verify the findings and evidence of each operation. SDC CPA forensic auditors point out that at this point, the chain of custody of the evidence must be guaranteed, in order to preserve the legal nature of the evidence.

• The persons related to the fraudulent event, internal, external, direct and indirect.

If you are interested for more details, contact the forensic auditors from SDC CPA, which have decades of experience in forensic accounting.

The Importance of Forensic Audit

Cases of economic fraud have multiplied in recent years. But the phenomenon of fraud is not something static and new modalities and methods of defrauding emerge every day, just as social habits and the environment as a whole change.

For this reason, it is necessary to adopt important security measures and fraud detection, which are capable of detecting and preventing almost any fraud, however complex it may be. One of these measures is the forensic audit. This is carried out especially in the field of public and private finance and is one of the types of audits that is primarily responsible for fraud investigation.

SDC CPA is an Aurora-based forensic accounting company that provides a complete range of forensic accounting solutions. Dee Studler and Krista Doyle founded the company in January 2001 for the express purpose of meeting the growing need for fraud investigation and forensic accounting by claim adjusters & attorneys.

The media and the dissemination of some judicial processes of national connotation, as well as the latest corruption scandals and others financial crimes have highlighted the importance of having technical evidence specialized financial institutions that complement the work of the authorities or defending. These specialized forensic financial techniques are known as forensic audit, which is different from traditional financial audit. A Forensic Auditory is generally performed by a team of professionals who require multidisciplinary work and specific techniques that guarantee obtaining, authenticity and custody of the evidence.

SDC CPA offers the services of highly-experienced investigating and forensic accounting experts who have a sharp eye for detail when it comes to investigating and analyzing specific accounting situations.

Topics in forensic auditing, forensic accounting, and techniques for detecting and fraud risk management, among others, have not yet been incorporated into the curricula of some of the public accounting programs accredited in the country, with sufficient dedication and emphasis. Currently, there are only two specialization programs in these subjects and some courses or graduates from other university institutions.

What is a forensic audit?

Forensic audit is a technique that aims at criminal investigation, integrated in the field of accounting, legal-procedural knowledge and focused on financial and business skills.

The forensic audit, after its investigation and analysis, will express a series of opinions and certain and objective information, which will serve as evidence in the face of legal proceedings.

This type of audit carries with it a large and complex team of professionals, among which we can find: auditors, computer scientists, lawyers, accountants, graphotechnicians, etc. This team will be variable and will be made up according to the type of company audited, its activity, dimensions, employees, type of operations and other important elements to take into account. For example, if the company to which the forensic audit is to be carried out belongs to the environmental sector, it will be necessary to bring forestry professionals.

SDC CPA always delivers high-quality services that you won't find elsewhere. Get high-quality financial services from an ISO certified organization that follows accurate forensic audit procedures.

What qualifications do forensic accountants have?

A specialist in Accounting and Financial Analysis analyzes the accounting information of companies, to investigate possible fraudulent or illegal situations, facing a judicial process.

A Forensic Accounting Expert can also quantify the damages within the case that gave rise to the litigation (situations of fraud or embezzlement, commercial disputes, etc.).

Analysis of financial and tax issues by a Forensic Accounting Analysis expert can be invaluable in a wide variety of cases. These specialists may have experience and knowledge as accountants and have worked in sectors such as banking, insurance, taxes, audits, bonds, valuations and appraisals, mergers and acquisitions, etc. among other possible areas of the financial area.

Most forensic accountants have a bachelor's degree in accounting or a related field. Generally, they have at least one of the following designations: Certified Forensic Accountant (CFA), Certified Public Accountant (CA), Certified Public Accountant (CPA), Certified Management Accountant (CMA), Certified Fraud Examiner (CFE), Certified Value Analyst (CVA), Financial Forensic Certificate (CFF), Investigative Accountant (CFA), acronym in English).

The Concept of Forensic Accounting

Forensic Accounting, financial forensics or forensic accountancy is the area of accountancy that investigates a company or business if there is an anticipated or actual disagreement or any litigation. Whether you are investigating potential or actual fraud of a person or business, or are going through a divorce need to find hidden assets, or if you need an expert witness at trial, our accredited forensic accountants can help.

SDC CPA is a global investigative accounting team that assembles to secure, collate and analyze corporate books, records and other financial information to provide clear and concise, evidence-based reports to boards, management and regulators in accordance with court standards. With this article SDC CPA will try to clarify the concept, purpose and historical development of Forensic Accounting, the types and factors that characterize it, the reasons for its existence, resolve misconceptions and doubts in practice, erase its secrecy and stop challenging the use of Forensic Accounting by people who do not understand it.

The article also aims to explain the psychological importance of bringing this profession into the standardization and classification of occupations, and the distinction and differentiation between supervision, control, audit and inspection, on the one hand, and Forensic Accounting, on the other. A proper understanding of a profession that has a much broader and scientifically based scope of action today will also eliminate the danger of attempting to gain the monetary benefit of individuals through its mystification.

Furthermore, with this paper, SDC CPA takes a closer look at the profile of people who may be Forensic Accountants, the knowledge and skills they need, speak to the seriousness of their methods and techniques that contribute to the investigation and proving of organized crime. The second part of the article clarifies the appearance of the faces of the site, which are clues, material evidence and crime patterns that are used in organized crime investigations from the perspective of a Forensic Accountant. The legal framework, domestic and foreign experience in the field of Forensic Accounting complete the picture of the whole issue.

Finally, through numerous examples, analyzing case studies from our and world practice, the concrete application of the skills and knowledge of Forensic Accountants in the investigation process is presented, which is the best way to create a quality knowledge base for future investigations. An analytical account of the most famous cases in the world of accounting research - such as the closure of the infamous Al Capone, the case of Big Joey's arrest and the overthrow of the seventy-year tradition of the Mafia Bonnano family, the British-Canadian fraudulent bond case, and numerous other cases - gives a new dimension to the way cases are investigated.

Constant monitoring of the flow of money contributes to the weakening of the financial potential of criminal groups and cuts the branches of the large-spread canopy of organized crime, which, in conjunction with corruption, threatens to endanger its environment and the entire economy of the country.

Forensic Accounting and Its Role in Financial Investigations

Changes in society's expectations, technical and technological advances, as well as a series of accounting scandals of legal entities from almost all branches of the economy, have created new and more rigid laws to avoid repeating them.

In the current increasingly complex business environment, there is a great demand for people who know other areas besides auditing, accounting and financial reporting, including knowledge of legal laws and legislations, actuarial, software tools, and even personality psychology. Given the fact that forensic accounting is an interdisciplinary field, it has been placed in the "front lines of crusades" against financial fraud.

The word forensic, comes from the Latin adjective “forensic”, which points to the one in the square. In ancient Rome, a forum or square represented the place where various commercial affairs were carried out, debates, and often trials where a person charged with a criminal act had to appear before a group of individuals in the forum and, together with the person who accuses him or her, answer questions about the charge.

Although forensic accounting involves performing a wide range of tasks, it can be divided into two broad sub-areas: investigative accounting and judicial support. Investigative accounting may include crime-screening and independent forensic audits, while court support relates to consultancy, expert and other services.

With the increase in the number of laws and regulations, their frequent changes, together with the increase and complexity of criminal activities in legal entities, there is a need for further development of the discipline of forensic accounting as well as forensic audit. SDC CPA, as global forensic accounting and investigation company, provides high quality services and consistent product concept to its clients.

SDC CPA is different from other forensic accounting firms. This is because, catastrophic events like tax seasons and hurricanes do not affect its focus on crime insurance. This forensic accounting firm has a broad background and experience and it has become a leader in providing crime and fidelity investigation.

SDC CPA is a multinational company, with employees from different nations, such as French, Afrikaans, Chinese, Dutch, German, Hebrew, Italian, Portuguese, and Spanish. It supports multicultural employment to cater to client’s multiple language & cultural needs.

What Does Forensic Accounting Mean?

We hear the term forensic all the time, thank to TV shows like CSI and Forensic Files. Furthermore, the news are full of stories about legal proceedings involving forensic accountants, psychiatrists, pathologists, toxicologists and others.

However, most people don’t even know the real meaning of the term forensic. Many are referring it to criminal investigations or “legal-type” work. However, it is much broader.