Page 34 - Novem December 2016

Elite Investigative Journal
Do We Need Autism Awareness Training in our Court System?, pg 34-44
©2014-2016 SYT Global, Inc.
Importance of Forensic Accounting in

Countries of Business Opacity: A Means to

End Fraud By Nahed Taha

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Photo Courtesy of sherlockinstitute.com O
When hearing about Enron, Conrad Black, Kimberly Rogers or WorldCom, one N

will definitely think about theft, bribery and fraud. The key word here is “fraud”;
where many studies have been conducted about this subject. What is fraud and how
is it detected and dealt with, and how is it possible to be protected from it? Such

questions and their answers are key terms in the domain of forensic accounting,
since fraud has played a major role in the existence of accounting, hence forensic

accounting. Understanding fraud is necessary for those who want to understand
what Forensic Accounting is, how it has come into the system, how it exactly deals
with the issues we face, and to what degree it has helped in certain issues of fraud,

or even in strengthening the accounting system in general (Economist Intelligence
Unit, 2007).

Research has been conducted on fraud and has been given different definitions,
all which come in line with one another. Other researches were done to highlight

the job of internal controls in minimizing the chance of theft or misappropriation.
However, little research was done on forensic accounting diffusion and proper

implementation.

Fraud activities have been manipulating, stealing, and destroying many businesses

and industries. To face such harmful trends, fraud examination has been created;
and great efforts have been exerted to detect, investigate, and prevent similar acts

from encountering. These preventions have shed lights on a new concept and

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