Contemporary Investigation Case Review Essay Example | Topics and Well Written Essays - 2500 words

Contemporary Investigation Case Review - Essay Example The purpose of administrator is to advise the creditors on viable solutions like ending the administration and returning the companies control to board of directors, converting the administration into a creditors voluntary liquidation or have the company enter into Deed of Company Arrangement (â€Å"DOCA†) under Sec. 439C whereas the purpose of appointing the liquidator is wind up the affairs of the company by gathering its assets and distributing it to creditors and others whom the companies owe in any form resulting in deregistration of the company. (Marshall, 2006)1 Administrator is conferred with powers to exercise which were earlier exercised by the previous officers of the corporation whereas the liquidator is appointed through court with legal powers to officially or voluntarily winding up the company. (Tomasic,2 et.al. 2002,pp 743 & Marshal,3 2006) In regard to relation with forensic accountant, the administrator will be the in charge of the company and will required the forensic accountant to provide his expert opinion by determining the economic damages incurred till now whereas the liquidator will be performing the obligation of liquidation on the report of forensic accountant. Forensic accounting investigators is determined by the scope of work while find answers to the involvement, coconspirators, impact on financial statement, cause for deed, and ways to overcome the situation. The investigators should bear in mind that they are only to detect the fraud and put the facts on paper and submit the same to the in-charge officer. (Golden et.al. 2006, pp. 524)4 In order the investigate the company details regarding whether any fraudulent activity is performed and resulted in bankruptcy, a detailed and scientific plan is prepared for the purpose of investigation. Wolf Transport has history of around 26 years and therefore it is necessary to record each and