Enhancing Audit Effectiveness through Forensic Accounting: A Case Study Approach

Md. Hafizul Islam, Rakibul Islam and Shamima Islam
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Md. Hafizul Islam: Lecturer, Department of Accounting & Information Systems, Bangladesh Army University of Science and Technology, Saidpur 5311, Bangladesh.
Rakibul Islam: Assistant Professor, Department of Accounting & Information Systems, Bangladesh Army University of Science and Technology, Saidpur 5311, Bangladesh.
Shamima Islam: Assistant Professor, Department of Business Administration, Bangladesh Army University of Science and Technology, Saidpur 5311, Bangladesh.

International Journal of Science and Business, 2024, vol. 40, issue 1, 180-198

Abstract: The research has attempted to present the major contribution that forensic accounting can make in enhancing the effectiveness of audits in general but in particular in exposing financial fraud and ensuring increased levels of corporate accountability. A series of case examples will be used to show how forensic accounting techniques are integrated with more traditional audit practices to enhance one's ability to recognize and prevent fraud. In the results, forensic accounting is therefore further fortifying the auditing framework and is more likely to ensure that complex financial transactions help produce more precise and reliable financial reports, with clear transparency to prevent fraudulent activities. This approach stresses upon specialist areas focusing on the skills and techniques which possibly may help investigate financial anomalies that detection might not be evident in general audits. It concludes with recommendations as to how forensic accounting methodologies can be integrated into auditing procedures by focusing on continuous professional development and tapping the dynamic nature of financial crimes.

Keywords: Forensic accounting; Audit effectiveness; Financial fraud; Corporate transparency; Case studies (search for similar items in EconPapers)
Date: 2024
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