FORENSIC ACCOUNTING: A BLESSING FOR FRAUD DETECTION

Abstract

Purpose

The jeopardy of the fraud has a very serious bad impact on the economy of the country. From financial crimes number of companies suffered around the world. The demand of forensic accounting is gradually increasing in modern business world. The purpose of this study is to examine the relationship between forensic accounting and fraud detection.

Methodology

This study used the descriptive research design by using the survey strategy. The targeted population of the research is the employees, working as professional accountant. Primary data has been collected from the sample size of (317).

Findings

In the light of results, the study concluded that there is a significant impact of forensic investigation, forensic litigation and forensic accountant investigation tenure on fraud detection in the private sector of Pakistan. Results shows that the existing independent variables has explained the dependent variable up to 32.6 %.

Implication

The practical implication of this research is that it provides the direction for professionals for taking necessary actions to avoid the fraudulent practices in the light of the results of this study. Therefore, professionals may take the decisions for the education, training, practice of forensic accounting and may demand the forensic accounting implementation in the organizations. 

Novelty

This study unveils a unique link between forensic accounting and fraud detection, shedding light on the significant impact of forensic investigation, litigation, and accountant tenure in combating fraud within Pakistan's private sector.