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Importance of Forensic Accounting in Countries of Business Opacity: A Means to End Fraud
was previously noted, are attributed to the absence of dysfunctional key
anti-corruption institutions, the lack of awareness on corruption, its causes,

consequences and the weak legal framework and the absence of proper legal
implementation mechanisms. Adding to these are the confessional and feudal

mentalities, inefficiency of supervisory bodies, low salaries of public sector
employees, political influences on the judiciary, the absence of civic education,
foreign interference in domestic affairs, selective or lenient enforcement of the law, D

and the inefficient media. In other words, the factors contributing to the fraudulent E
business practices can be categorized under four notion; culture, education, C

management and government and legislation. Whether it is the lack of awareness E
regarding FA (culture and education) and the advantages it can bring, corrupt P
practices of management and the inefficiency of supervisory board or absence of T

a law that enforces FA (government and legislation), the four categories should be I
tackled to put an end to the continuous fraudulent acts. O

N
For instance, the lack of whistle-blower protection laws prevented citizens from
reporting on political corruption in the legislature or other sections of government.

In the private and public sectors, the lack of an access to information law, a
whistle-blowers’ protection law, conflict of interest law and other disclosure and

transparency mechanisms is a major obstacle to integrity.

Results and Discussion

The literature review explained the different meaning of fraud, forensic accounting,

and the characteristics of an opaque business country and how can FA help in
limiting fraudulent behavior that is making it easy for money launderers to continue
their illegitimate practices. Furthermore, FA can serve as a liberator for countries

with opaque business practices such Luxembourg, Austria, Lebanon and many
others, putting an end to all the business corruption taking place at the different

sectors of the country, be it government or any other private or public sector.
However, to reap the best results of FA, a proper diffusion and implementation
process must take place that requires the work of the parties in a country, be it

government itself, people’s view and awareness of FA on the cultural basis, the
companies that must require from its employees to be aware of FA and to employ

forensic accountants as well and universities and other academic institutions that
bear on its ability to teach FA.

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