Get top quality of accounting services with professional accountant at Nashville Tenessee CPA. The results of the studies reveal that Accounting is perceive as a means to overcome fraudulent behaviour. Most of the respondents either agreed or strongly agreed on the need to incorporate it in order to prevent fraud and for detection purposes as a primary need. However, the respondents considered this to be new in Lebanon with a highest percentage of people (56.36%) reporting that it wasn’t used by Lebanese companies due to the lack of awareness, privacy issues, the nature and type of businesses (family businesses and SMEs), lack of guidance concerning the standards (local or international) that should be applied and lack for proper regulations.
Yet respondents showed a positive attitude towards the implementation in Lebanon as financially corrupted country. Thus with such an encouraging perception amongst respondents, the issue remains in the introduction and diffusion of Forensic Accounting.
Get proper studies knowledge:
The outcomes of the studies also supported the idea of setting a law that mandates all sectors to submit a Forensic Accounting report. The idea of setting a law that enforces companies to file such a report was embrace by the majority of respondents who also considered that the best means of introducing this system in a country of opaque business country is through the educational curriculum via the graduate programs. DIFA (Diploma in Investigative & Forensic Accounting) as well as the CPA (Certified Public Accountant) were recommended as the certifications that should be granted in the corrupted countries as in the case of Lebanon.
The discussion of the study results are based on the research questions that investigated “To what extent is Forensic Accounting applicable? And how could it be introduced?” The suggest hypotheses are analyse and evaluate according to the findings. Countries with Opaque Business Practices Need Forensic Accounting as a Tool to Fight Fraud and Corruption. This study reveal that there is an eagerness to have Forensic Accounting in financially fraudulent countries due to the extensive corruptive acts that are commit. And still are without any observation and punishment because the fraudster always gets away with it. Due to the absence the adequate and proper tool to identify and discover these acts. Hereby the urgent need to introduce it in countries with opaque business practices and to create awareness about this. Procedure in different fields and sectors mainly in the financial fields and governmental sectors.
This anti-fraud scheme was regard as an appropriate tool to fight corruption. Since it has the legal accessibility and techniques needed to reveal fraud. An additional point is the positive perception towards it and the high acceptance to implement it in financially opaque countries. With a lot of encouragement to use it in institutions or companies.
Forensic Accounting is Not a Common Practice at Present:
The findings indicate that Forensic Accounting is know in the countries of business opacity. Such as Lebanon, by practitioner accountants, educators, and auditing & accounting firms. Despite that the survey and interviews’ results prove that this practice is know. It is not commonly use or practice by audit firms since it is not frequently request.