CORPORATE GOVERNANCE AND THE ROLE OF FORENSIC ACCOUNTANTS
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The formal mechanism of direction, supervision and control put in place within an organization
·in order to monitor the decisions and actions of its senior managers and ensure these arc
compatible and consistent ·with the specific interest of shareholders and the various other
interests of shareholders ·who contribute to the operations of the company is very fundamental to
the sustainability and social relevance of any corporate entity. However, the challenge of poor
corporate governance has been a leading factor in poor performance, manipulated financial
reports, and disenchant~d stakeholders. In the modern day reporting climes, forensic accountants
have come into limelight due to rapid increase in financial frauds, corruption, and white collar
· crimes. They are in great demand for their accounting, auditing, legal, and investigative skills. '
This paper explores the valuable contributions forensic ac~ountants are positioned to make in the
global task of stemming· the tide of Corporate Govemance failures in private and pub! ic
organizations of the twenty-first century. Using the secondary data research methodology, the
· paper finds that the engagement of forensic accountants will significantly expose and correct
questionable accounting and managerial practices which have become seriously more insidious
and widespread than imagined in Corporate Governance settings. The research therefore
recommends that economic entities, corporations, regulators, govemments, and all stakeholders
in the financial reporting process should be more resolute than ever in the engagement and
application of forensic accounting skills to daunting Corporate Governance concems
Keywords
HF5601 Accounting