THE ROLE OF ACCOUNTANTS AND AUDITORS IN FIGHTING ORGANISED CRIME

• Main Authors: Ivana B. Petrevska, Miroslava B. Petrevska
• Format: Article
• Language: English
• Published: KD Mapro 2014-07-01
• Series: Journal of Process Management. New Technologies
• Subjects: Economic and financial crimes; moneylaundering; Auditing
• Online Access: http://www.japmnt.com/images/Volume%202/Issue%203/4.%20THE%20ROLE%20OF%20ACCOUNTANTS%20AND%20AUDITORS%20IN%20FIGHTING%20ORGANISED%20CRIME.pdf

Criminal activities and organised crime became the main generators of social and state instability in the recent years, much more that the wars. They generate significant illegal money and need to launder this money so that they can be integrated into the legitimate financial system. Economic and financial crimes that called white collar crimes, typically has diffuse costs to society and concentrated benefits for the perpetrators. The social expectations are that the auditors should play an effective role in reducing, if not eliminating, these crimes.New auditing standards require auditors to take a proactive approach to assessing whether management has in place appropriate systems and controls to manage the risk of fraud.This paper shed light on nature, impacts and types of economic and financial crimes, and then the role of auditing profession in fighting against them.