The Role of Forensic Accounting in Economic Stability and Fraud Prevention

Uwakwe Blessing Chidiebere

 University of New Haven, West Haven, Connecticut, USA

                                                                              ABSTRACT

This paper explores the critical role of forensic accounting in maintaining economic stability and preventing fraud. With the increasing complexity of financial transactions and the rise in white-collar crimes, forensic accounting has emerged as a vital tool in uncovering financial discrepancies and combating corruption. By integrating accounting, auditing, and investigative skills, forensic accountants play a pivotal role in identifying fraudulent activities, tracing embezzlement, and ensuring the accuracy of financial records. The study discusses the principles and techniques of forensic accounting, its impact on economic stability, and how it serves as a proactive measure in fraud prevention. Through case studies and practical applications, the paper highlights the effectiveness of forensic accounting in enhancing corporate governance and safeguarding economic interests.

Keywords: Forensic Accounting, Economic Stability, Fraud Prevention, White-Collar Crime, Financial Discrepancies.

CITE AS: Uwakwe Blessing Chidiebere (2024). The Role of Forensic Accounting in Economic Stability and Fraud Prevention. RESEARCH INVENTION JOURNAL OF CURRENT ISSUES IN ARTS AND MANAGEMENT 3(3):84-88.