Forensic Accounting Techniques for Fraud Detection and Prevention: A Systematic Review
Keywords:
Forensic Accounting, Fraud Detection, Fraud Prevention, Systematic Review, Corporate GovernanceAbstract
The aim of this systematic review is to explore the use of forensic accounting techniques in financial fraud detection and prevention in different business environments. The review analyzes the development of forensic techniques including data mining, ratio analysis, digital forensics and investigative auditing in an integrated way, based on the findings from previous studies. These techniques are demonstrated to increase fraud detection, identifying anomalies, irregularities and hidden patterns in financial records. The review also highlights preventive measures such as proactive risk assessment, internal control evaluation and compliance monitoring to enhance corporate governance and accountability. One of the important observations is the increasing use of technology-based tools in combination with forensic skills to determine more accurate and prompt identification of fraudulent activities. Moreover, the review highlights the need for cooperation between auditors, the regulators and the law enforcement bodies for transparency and the interests of the stakeholders. This research brings together findings from several studies to show that forensic accounting can be an effective tool for minimizing financial damages and promote ethical behavior and trust within the business community. In conclusion, forensic accounting is a valuable field that combines traditional accounting and investigative methods, providing both investigative and preventive benefits in the fight against fraud.
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