article · International Journal of Public Administration
Forensic accounting extends standard auditing procedures to address fraud identification, prevention, and exposure. By employing reliable principles and investigative methodologies, the discipline gathers sufficient facts and evidence suitable for legal prosecution in court. As economic globalisation expands, fraudulent activities can emerge across all types of organisations. Fraudsters regularly exploit systemic vulnerabilities, including defective internal controls, suspicious financial statements, and deficient corporate governance structures. Controlling and mitigating these threats requires professionals equipped with specialised investigative expertise and proactive audit capabilities. Skilled forensic accountants serve a crucial protective role by detecting system weaknesses, deterring criminal behaviour, and reporting substantiated fraud directly to judicial bodies to facilitate formal prosecution.
Fraud undermines organisations by exploiting weak oversight and compromised internal controls. Traditional audits often fail to uncover complex financial misconduct. Recognising the role of forensic accounting clarifies how specialised investigative methods and evidence collection can protect institutions, improve accountability, and provide the robust documentation required to hold corporate offenders legally accountable in courts of law.
The abstract does not indicate a specific technology or product application pathway, focusing instead on professional forensic accounting methodologies. Potential real-world application rests in advisory services, corporate governance consultancies, and internal audit programmes across public and private organisations seeking to prevent financial misconduct and prepare court-admissible evidence.
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Forensic accounting is a new trend that goes beyond normal audit approaches and procedures for fraud identification. The practice applies reliable principles and methods to obtain sufficient facts or data that provide basis for prosecution in the law court. Forensic accountants characteristically need adequate know-how and skills for investigation and proactive audit to control fraud. With globalization of the economy, fraudsters can be found in any organization. These criminals take advantage of loopholes such as suspicious financial statement, defective internal controls, and poor corporate governance. Hence, there is a great need for skilled forensic accountants to detect, prevent and expose the weak system. The professionals can exercise their mandate by reporting the obvious cases of fraud committed to a law court for prosecution.
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DOI: 10.1080/01900692.2021.2009855
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