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Forensic Accounting in Reducing Fraudulent Practices for Efficient Operations in the Banking Sector of Bangladesh

Alim Al Ayub Ahmed ()

Abstract of Economic, Finance and Management Outlook, 2016, vol. 6, 11

Abstract: This paper is directed to affirm an evaluation of forensic accounting in reducing fraudulent practices to enhance efficient operation of banking sector in Bangladesh. To address the research problem three objectives were raised and three research questions and hypotheses were formulated to align with the objectives of the study. To achieve those objectives, data were collected from both primary and secondary sources through structured questionnaire, library research, and internet facility. The hypotheses were tested with z-test. The result reveals that forensic accounting has contributed in the reduction of financial irregularities in banking sector as well as it has impact in ensuring transparency, accountability, and ethical practices in banking sector. Forensic audit is a significant form of evidence in law courts and in other forms of bank’s legal proceedings. Based on this, it recommended that Banks should try to go beyond conventional audit and practice forensic audit to ensure more effectiveness and efficiency. Bangladeshi bankers should embrace integrity, objectivity, fairness, accountability as a moral duty to reduce the level of fraud in the banking industry.

Date: 2016
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