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Importance of Forensic Accounting in Countries of Business Opacity: A Means to End Fraud
practice known as “Forensic Accounting (FA)”, which has become a common
notion to fight against fraud and similar unethical acts. No matter how much fraud

activities increase, there must always be an anti-fraud scheme to shield against it.
To provide availability of balance and protection is the main reason why FA existed

.
Nonetheless, the legal, supervisory, and regulatory systems of financially corrupted

D countries create significant opportunities and tools for the laundering and protection
E of the proceeds of crime, and allow criminals who make use of those systems to

C significantly increase their chances to evade effective investigation or punishment.
E A country’s commitment to bank secrecy and the absence of certain key supervisory
P and enforcement mechanisms aimed at preventing and detecting money-laundering

T increase the possibility that transactions involving the country’s entities and
I accounts will be used for illegal purposes.

O
N Since one of the most powerful tools used today is forensic accounting, it is
advantageous to study its possible implementation in countries with business
opacity, and to probe the essential methods needed to establish the implementation

of this procedure in different sectors and at many levels. Therefore, in order to
achieve these objectives, there is a need to investigate the following research

question: “What are the conditions of possibility for implementing FA in a country
characterized by an opaque financial sector?” More specifically, this research has
two objectives:

1. To identify the best way to highlight the importance of using forensic accounting

activity in order to clear the roads of the future of business activities; by learning
from past mistakes such as Enron and WorldCom and by using other cases of
financial fraud similar to the international ones.

2. To identify the way to diffuse and implement forensic accounting as a vital tool

that, when used professionally, can greatly help fight against fraud activity.

Moreover, the gap is that forensic accounting is not known in many countries. FA

is not so much spread in the world, it is only known in USA and some developed
nations. The study is contributed in finding the best way to implement FA especially

with the existing gap, with the objective of covering it mainly because it is so hard

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