Maximizing internal control effectiveness: the synergy between forensic accounting and corporate governance

Abdallah Bader Alzoubi

Journal of Financial Reporting and Accounting, 2023, vol. 23, issue 1, 404-416

Abstract: Purpose - This paper aims to explore the joint role of forensic accounting and corporate governance in enhancing internal control effectiveness. Design/methodology/approach - The study used a previously administrated questionnaire as a data collection method and partial least squares structural equation modeling as a data analysis tool. Findings - The findings of this paper find a positive relationship between the study’s independent variables (forensic accounting and corporate governance) and dependent variables (internal control effectiveness). Research limitations/implications - One potential limitation of this study is the use of a previously administered questionnaire as the primary data collection method, which may have limited the scope and depth of the data collected. Another limitation may be the focus on only two independent variables (forensic accounting and corporate governance), which may not fully capture all the factors that contribute to internal control effectiveness. Despite these limitations, this study provides important insights into the role of forensic accounting and corporate governance in enhancing internal control effectiveness and highlights the need for further research in this area. Practical implications - This paper underscores the importance of investing in effective internal control systems and highlights the key role that forensic accounting and corporate governance play in enhancing the effectiveness of these systems. Social implications - Effective internal control systems are important not only for the financial health of organizations but also for their social and ethical responsibilities to stakeholders. The findings of this study suggest that investing in strong forensic accounting and corporate governance practices can help organizations meet these responsibilities and promote trust and transparency. Policymakers and regulators may use these findings to inform their efforts to promote effective internal control systems and enhance public trust in organizations. Originality/value - This paper has important implications for service organizations in Jordan and can be used to inform policymakers and regulators in their efforts to promote strong and effective internal control systems.

Keywords: Internal control; Forensic accounting; Corporate governance (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:eme:jfrapp:jfra-03-2023-0140

DOI: 10.1108/JFRA-03-2023-0140

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