Samora P. Z. Wolokolie (PhD.), Deputy Minister of Finance and Development Planning for Fiscal Affairs, published a book entitled, “Forensic Accounting Analytics and Pension Fund Administration: A study of Selected Administrators in Liberia.”
In the book, Wolokolie acknowledged that Forensic Accounting or forensic auditing has emerged as a result of the surge of fraud, and by that, he went on to address the issue in three-fold: absorbing the art of forensic thinking among auditors; stimulating and promoting the understanding of basic forensic skills; and expanding the stock of literature in forensic accounting and audit.
Considering the broad spectrum of the objectives of the book, the author discusses and examines the characteristics and skills of a forensic auditor, as well as objectives of the forensic audit. Furthermore, the reactive and proactive accountings which are followed by a highlight on the distinction between statutory audits and forensic were examined, and detection techniques and steps in conducting forensic audits are also discussed.
In conclusion, the book emphasizes that forensic audit practice reduces the incidence of fraud even in the Pension Fund.
The kindle version of the book is scheduled to be released on July 1, 2020. Dr. Wolokolie is scheduled to publish more books in the coming months. The book is currently on sale in paperback on Amazon.com.
Samora P.Z. Wolokolie is a natural born Liberian who holds a Doctor of Philosophy and Master of Science in Forensic Investigation and Audit from the School of Business and Public Policy at the Charisma University in the Turks & Caicos Islands, the United Kingdom, in 2020. He also holds an MBA in Accounting from Cuttington University and is currently a third-year student at the Louis Arthur Grimes School of Law at the University of Liberia.
He is a certified member of the Liberia Institute of Certified Public Accounting with other accreditations in Certified Fraud Examiner (CFE), Chartered Accountant (CA), Certified Public Accountant (CPA), Fellow Certified Forensic Investigation Professional (FCFIP), Association of Certified Fraud Examiners (ACFE), and Certified Tax Practitioner (CTP) among others in the Accounting field.
The question of why many Liberian professors and doctors are not writing books has been surfacing in the public domain, and in his assertion regarding the publication, Minister Wolokolie who also serves as an adjunct lecturer of Auditing, Taxation, and Accounting at the Arthur Barclay Business College of the Stella Maris Polytechnic and the Financial Management Training Program (FMTP), said his publication is a “True representation that Liberians are getting more and more interested in writing and teaching the next generation of leaders.”