Forensic Accounting in Controlling Corporate Fraud, Money Laundering, and Other Illegal Activities

Applied Business Research
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Contents
Abstract......................................................................................................................................3
Research background.................................................................................................................4
Research question and research objective..................................................................................5
Literature review........................................................................................................................6
Research Design.......................................................................................................................11
Ethical consideration................................................................................................................13
References................................................................................................................................14
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Abstract
This is a research proposal that is developed for establishing whether forensic accounting can
be helpful in controlling corporate fraud, money laundering, and other illegal activities.
Controlling these illegal activities is important as general public and investors have made
significant amount of financial investment in such organizations. Various rules and
regulations have been developed over the period of time to prevent these corporate frauds but
the cases of corporate fraud resurface on a regular basis. This report will be providing beam
description of the different activities that will be used in the process of undertaking the
research. This research proposal has also conducted literature review in order to collect
secondary data. Primary data will also be collected from 20 business organizations that are
used in forensic accounting with the help of questionnaire. In addition to that different aspect
of research are included in this report such as research approach, research question,
background of the research, etc. At last ethical considerations has been listed out in this
research proposal as collection of data is concerned with actual person. All of the five ethical
considerations are required to be followed throughout the process of research.
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Research background
In the past there have been various cases of corporate fraud, money laundering and other
illegal activities undertaken by business organizations. Governing authorities have prepared
various rules and regulations to prevent these type of illegal activities but 100% prevention of
these activities is very difficult. Penalty and legal action to be taken against culprits can be an
effective manner in which it can be mitigated by invoking fear among the business
organizations (Sharma and Panigrahi, 2013). For this purpose it is very essential that
governing authorities are able to identify the causes of corporate fraud money laundering and
other illegal activities and forensic accounting can be very helpful in such identification.
Forensic accounting can be defined as a special branch which helps in examination of
financial accounts in order to find evidence of criminal activities undertaken by Business
organizations or any other authority (Huber, 2017).
Any action undertaken by business organizations will leave a certain trail behind it and the
purpose of forensic accounting is to identify this trail with the help of accounting processes
(Yadav and Yadav, 2013). Use of forensic accounting in current business environment has
increased as it is providing positive results in criminal proceedings. The main focus of this
research proposal will be to conduct secondary research and develop a research proposal
through which impact of forensic accounting in current business environment can be analysed
(Van Akkeren, Buckby and MacKenzie, 2013).
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