The Failure of Academic Institutions in Preparing Accountants to Detect Fraud

• In Event: Breakfast with Research Roundtable Forum Session
  In Paper Session: Pedagogy Roundtable

Abstract

This is an integrative paper that provides syntheses of academic and practice literature concerning how academic institutions failed in preparing accountants to detect fraud. The paper provides new insights into the literature that will facilitate further research and enhance the application of knowledge. Statistics indicated that most fraud schemes are being detected because of a coincidence or tip, not because of the due diligence of accountants or auditors. Most scholars in the existing literature indicated a strong correlation between academic education and graduates’ future capabilities to detect fraud. Ironically, most views have confirmed the catastrophic failure of most schools in preparing future accountants to detect fraud. The principal investigator delved deeply into the existing literature to study the perceptions about weaknesses in anti-fraud education. The findings of this comprehensive literature review can be used to determine how academic education can be enhanced to prepare students better to detect fraud.

Author

• Mohamad Majdi Sahloul, American Accounting Academy