The role of auditors, accountants, and forensic accountants in fraud control

Albert van Zyl

Chapter 22 in Research Handbook on Fraud and Society, 2026, pp 404-425 from Edward Elgar Publishing

Abstract: This chapter explores the evolving role of auditors, accountants, and forensic accountants in the prevention, detection, and investigation of economic crime, with a focus on fraud and money laundering. It examines the audit expectation gap—comprising knowledge, performance, and evolution dimensions—and evaluates the limitations of traditional audit methodologies in identifying fraud. Through a qualitative literature review and some South African case studies, it explores the misuse of accounting professionals as gatekeepers and enablers of illicit financial flows. It further analyses the role of professional bodies in enforcing ethical standards and accountability to provide an essential check on abuse in both the public and private sectors. The chapter argues for a recalibration of assurance standards and scope, professional training, and oversight mechanisms to restore public trust and ensure resilience against economic crime in an increasingly digitised and complex global environment.

Keywords: Accounting; Anti-money laundering; Auditing; Economic crime; Expectation gap; Forensic accounting (search for similar items in EconPapers)
Date: 2026
ISBN: 9781035348800
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