Forensic Audit and Corporate Governance: A Step Beyond Traditional Auditing System and Synergistic Role of Artificial Intelligence
Keywords:
No Keywords.Abstract
Detecting and preventing white-collar crimes is the most critical challenge faced by the traditional auditing system, which lacks investigative expertise. Corporate fraud and willful misstatement of financial information downgrade the true spirit of corporate governance objectives. In contrast, forensic auditing is a step ahead of traditional auditing systems because of its robust and proactive investigative proficiency in unraveling complex financial irregularities and contributing to achieving corporate governance objectives. Artificial Intelligence has revolutionized the world as a substitute for human intelligence; integration of AI with forensic auditing has created a synergy to combat corporate crimes much more efficiently and effectively than traditional auditing systems. This study has tried to magnify that forensic audit is a step ahead of the traditional audit and AI Integrated forensic auditing is a powerful tool to reduce corporate crimes and help to achieve corporate governance goals.
Downloads
Downloads
Published
How to Cite
Issue
Section
References
Eyisi A. S. and Ezuwore C. N. (2014).The Impact of Forensic Auditors in Corporate Governance. Research Journal of Finance and Accounting. Vol.5, No.8. (pp 31-39).
Mircheska, Katerina., Karadjova, Vera., Blazheva, Slavica., Malakovska, Maja., Nikolovski, Pece. (2020).The Importance of Forensic Audit and Differences in Relation to Financial Audit. International Journal of Sciences: Basic and Applied Research (IJSBAR). Volume 54, No 2, (pp 190-200).
Uniamikogbo, Emmanuel; Adeusi, Amos Sunday & Amu, U.Christian. (2019).Forensic Audit and Fraud Detection and Prevention in the Nigerian Banking Sector. Accounting & Taxation Review, Vol. 3, No. 3. (pp 121-139)
Godwin Emmanuel Oyedokun. Approach to Forensic Accounting and Forensic Audit1. (2015). Article in SSRN Electronic Journal · (pp 1-24)
Nora AzimaNoordin, Khaled Hussainey, and Ahmad Faisal Hayek. The Use of Artificial Intelligence and Audit Quality: An Analysis from the Perspectives of External Auditors in the UAE. (2022). Journal of Risk and Financial Management.15, 339. (pp 1-14)
Kalikant Mishra, Kalikant.,M. Khalid Azam, M. khalid.,.Junare, S.O. (2021).Role of Forensic Audit in Controlling Financial Statement Fraud: A case study of Satyam Computers.Psychology and Education. 58(2). (Pp-4016-4025).
Wijerathna, A. G. H. S. K. &Perera, H. A. P. L. (2020).A Systematic Literature Review on Forensic Accounting. The Conference Proceedings of 11th International Conference on Business & Information ICBI, University of Kelaniya, Sri Lanka. (pp. 105-119)
AtrisiaInayatiMamahit, DekarUrumsah. (2018). The Comprehensive Model of Whistle-Blowing, Forensic Audit, Audit Investigation, and Fraud Detection. Journal of Accounting and Strategic Finance. Vol.1 No.02. (pp. 153-162)
TadijaĐukić, Miloš Pavlović, Vladimir Grdinić. (2023). Uncovering Financial Fraud: The Vital Role of Forensic Accounting and Auditing in Modern Business Practice. Economic Themes. 61(3). (pp. 407-418).
Bhasin, Madan Lal. (2016). Contribution of Forensic Accounting to Corporate Governance: An Exploratory Study of an Asian Country. International Business Management, 10(4). (pp.479-492).
Samuel Ajibade Dada, Olusola Esther Igbekoyi, Muyiwa Emmanuel Dagunduro. (2023). Effects of Forensic Accounting Techniques and Corporate Governance on Financial Performance of Listed Deposit Money Banks in Nigeria.International Journal of Professional Business Review. (pp. 1-26).
Meenu Gupta, Meenu., Pradeep Kumar Aggarwal, Pradeep Kumar., Gupta, Rekha. (2023). Corporate Sustainability with Forensic Auditing: An Evidence from India. International Journal of Experimental Research and Review. Vol. 35. (pp.128-137).
Gray, Dahli. (2008). Forensic Accounting and Auditing: Compared and Contrasted To Traditional Accounting And Auditing. American Journal of Business Education. Volume 1, Number 2.(pp. 115-126).
Deb, Rajat. (2018). Financial Audit or Forensic Audit? Government Sector Panorama. Indian Journal of Corporate Governance.11(2)–24. (pp. 1—24).
A.O. Enofe., G.A. Ekpulu., T. O. Ajala. (2015). Forensic Accounting and Corporate Crime Mitigation. European Scientific Journal. Vol.11, No.7. (pp. 167-185).
Ramaswamy, V. (2005). Corporate Governance and the Forensic Accountants. CPA.J . 75. (pp 78-70).
Lisa Quest, Anthony Charrie, and Subas Roy (2018). The Risks and Benefits of Using AI To Detect Crime. Harvard Business Review. Vol-8.
Free Sample
Editorial Policy
