Impact of forensic accounting on fraud detection and prevention: a case of firms in Pakistan

Author:

Naz Iram,Khan Saleh Nawaz

Abstract

Purpose This study aims to assess the effectiveness of forensic accounting techniques to prevent and detect fraudulent activities in firms in Pakistan. Design/methodology/approach A descriptive research approach has been adopted in this study. Primary data has been collected through structured questionnaires distributed to professionals from investigating firms, professional bodies and field researchers. The independent variables that were analyzed included fraud investigation, litigation support and dispute resolution, whereas the dependent variables were fraud detection and prevention. The Statistical Package for Social Sciences has been used for data analysis to derive objective results. Findings This research reveals that forensic accounting techniques such as fraud investigation, litigation support and dispute resolution have a positive impact on fraud detection and prevention in Pakistani firms. Practical implications Firms should train staff on forensic accounting techniques, implement fraud risk management and anti-corruption policies, conduct regular financial statement audits and develop a whistleblower protection program to encourage employees to report fraudulent activities. The government should develop regulations and guidelines to promote the use of forensic accounting in firms. Originality/value This study is covering the gap in literature on financial fraud and forensic accounting practices concerning emerging economies such as Pakistan. This study can serve as a valuable resource for firms and policymakers to strengthen their fraud prevention efforts and build a more robust culture of financial integrity.

Publisher

Emerald

Reference45 articles.

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