Impact of Forensic Accounting for Strengthening Company’s Internal Audit Systems in Prevention and Detection of Financial Fraud: A Review

Abstract

This review provides some evidence related to forensic accounting, internal audit, and fraud. The influence of forensic accounting on fraud prevention has been critically reviewed by the current research. The significant review of the effect of forensic accounting on fraud detection has also been offered by the current research. The importance of forensic accounting in strong corporate governance has also received significant attention in the final section.  This study examines the themes and approaches found in forensic accounting research that has been published in forensic accounting publications. It is a descriptive research study. According to study findings, forensic accounting is crucial for fraud identification and prevention in businesses. The study also showed that organizations’ internal audit systems are strengthened by forensic accounting, which has a good effect on corporate governance.

Keywords: Forensic accounting, Internal audit, Fraud prevention, Fraud detection

DOI: 10.7176/EJBM/16-3-07

Publication date: April 30^th 2024