Forensic Accounting, Auditing, and Governance in Trinidad and Tobago

This report investigates the positive impact of forensic accounting, auditing, and investigation on corporate governance in the financial sector of Trinidad and Tobago. The study examines the increasing prevalence of financial fraud and the role of forensic accounting in mitigating these issues. The research includes a literature review on forensic accounting, fraud, and corporate governance, along with a detailed methodology involving primary data collection and SPSS analysis. The findings highlight the positive effects of forensic accounting in enhancing corporate governance within the financial sector of Trinidad and Tobago. The report addresses research objectives, provides recommendations, and suggests areas for future work, offering valuable insights into the application of forensic accounting in combating financial crimes and ensuring better governance practices.

Running head: THE POSITIVE IMPACT OF FORENSIC ACCOUNTING, AUDITING AND
INVESTIGATION ON CORPORATE GOVERNANCE IN THE FINANCIAL SECTOR OF
TRINIDAD AND TOBAGO
The positive impact of Forensic Accounting, Auditing and Investigation on Corporate
Governance in the Financial Sector of Trinidad and Tobago
Name of the Author:
Name of the University:
Author’s Note:

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Abstract
This paper is constructed in order to have an understanding of the investigation on corporate
governance in the financial sector of Trinidad and Tobago. The background of the paper has
provided an insight on the topic and how the financial sector in the country has been performing.
It is observed that the number of financial frauds has increased and it is seen that several
measures have been taken with the help of which the “forensic accounting”” has been able to
enhance the financial sector and has been able to mitigate the financial scams and issues. The
literature of the paper provided an overview of “forensic accounting”” and how these aspects
have been looked upon by the other researchers. The methodology has determined that primary
data has been collected and the data with the help of SPSS analysis has been analysed with the
help of which they are to provide results that are desirable for this paper. The results indicate that
positive impacts are observed in “forensic accounting” and this has been able to provide better
corporate governance in the financial sector in Trinidad and Tobago.

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Table of Contents
Chapter 1: Introduction....................................................................................................................5
1.1 Background of the Study.......................................................................................................5
1.2 Research Problem..................................................................................................................8
1.3 Research Objectives...............................................................................................................9
1.4 Research Questions................................................................................................................9
Chapter 2: Literature Review.........................................................................................................10
2.1 Introduction..........................................................................................................................10
2.2 Forensic accounting and Accountants.................................................................................10
2.3 Forensic Auditor and forensic accounting...........................................................................13
2.4 Financial Fraud....................................................................................................................14
2.5 Forensic accounting and Financial Fraud............................................................................16
2.6 Impact of Forensic Auditor in Corporate Governance........................................................17
2.6.1 Corporate Governance and Audit Functions................................................................17
2.6.2 Management Accountability.........................................................................................18
2.6.3 Agency Theory.............................................................................................................19
2.7 Summary of the literature....................................................................................................21
Chapter 3: Research Methodology................................................................................................22
3.1 Introduction..........................................................................................................................22
3.2 Justification for the choice of methodology........................................................................23

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3.3 Research Philosophy............................................................................................................23
3.4 Research Approach..............................................................................................................24
3.5 Research Design..................................................................................................................24
3.6 Process of Data Collection and Design of the Questionnaire..............................................25
3.7 Sampling and Sample Size..................................................................................................25
3.8 Data Analysis Technique.....................................................................................................26
3.9 Ethical Consideration...........................................................................................................26
Chapter 4: Data Analysis and Discussion......................................................................................27
4.1 Introduction..........................................................................................................................27
4.2 Frequency Analysis.............................................................................................................27
Answer to Question No 1......................................................................................................27
Answer to Question No 2......................................................................................................28
Answer to Question No 3......................................................................................................30
Answer to Question No 4......................................................................................................32
Answer to Question No 5......................................................................................................33
Answer to Question No 6......................................................................................................35
Answer to Question No 7......................................................................................................37
Answer to Question No 8......................................................................................................39
Answer to Question No 9......................................................................................................41
Answer to Question No 10....................................................................................................42

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Answer to Question No 11....................................................................................................44
Answer to Question No 12....................................................................................................45
Answer to Question No 13....................................................................................................47
Answer to Question No 14....................................................................................................49
Answer to Question No 15....................................................................................................50
4.3 Correlation...........................................................................................................................52
4.4 Regression Analysis.............................................................................................................66
4.5 Results..................................................................................................................................67
Chapter 5: Conclusion, Recommendation and Future Work.........................................................68
5.1 Conclusion...........................................................................................................................68
5.2 Addressing the research objectives......................................................................................69
5.3 Recommendations................................................................................................................70
5.4 Future Work.........................................................................................................................71
Reference List................................................................................................................................72
Bibliography..................................................................................................................................79
Appendix........................................................................................................................................83
Questionnaire.............................................................................................................................83

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Chapter 1: Introduction
1.1 Background of the Study
Investigative accounting and “forensic accounting” is the implication of the financial
expertise and thereby examine attitude to the concerns that are unresolved that is conducted
within the aspect of the rules that is accordance to evidence. By looking at it as a discipline, it
surrounds the issues like the knowledge of fraud, financial experiences and skills, precise and
effective knowledge and gaining the understanding of the reality of the business and the
functioning of the legal mechanism. “Forensic accounting” is the multilateral process of making
use of accounting, examination skills, auditing in order to support the matters that are legal in
nature. It is anexperienced area of accounting that explains the actions that leads to litigations.
“Forensic accounting” can thereby be looked upon as the component of accounting that is ideal
for the lawful overview and subscription of the best extent of declaration. Sadaf et al.(2018)
reports that “forensic accounting” in Trinidad and Tobago can be utilised to resolve the issues
and the leakages that can lead to organizational failures. In this manner, it can be accredited to
the matter and the fact that positive “forensic accounting” process searches for mistakes, errors
and thereafter engages in the organizational notions and the various kinds of transactions prior to
crystalizing into frauds.
Alleyne and Pierce (2017) cited that there has been a huge rise in the total number of
frauds and fraudulent operations in Trinidad and Tobago and therefore there is a need for taking
the services of “forensic accountants”.
The key corporate governance process failure in order to mitigate the financial disasters
and frauds and the rise in the aristocrat and innovative financial frauds has created a grave threat

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to the government and the investors and even to the common people. Furthermore, there has
been an instance of fraud related to the corporate financial statement audit where there has been a
capitalization of the expenditure that has led to a huge rise in the level of profit which is actually
not existent in the point of view of the auditors and yet the audits of such organizations was
rejected by their auditors that resulted to a failure of two large organizations. Gachoka et al.
(2018) have even acknowledged the rise in the level of frauds and such activities in all over the
globe.
The problems and the issues that are related to “forensic accounting”and frauds has been
continuously been argued for the past certain years as the organizations in the developed nations
like WorldCom Inc, Enron Corp and Kmart Corp have been discovered and accused of
fraudulent activities. This is still aconcern that needs to be highlighted in the business sector as
fraudulent scenarios are discovered after there has been disappearance of huge funds from the
economy. Mburugu (2016) explained that incompetency of the “statutory audit” to restrict and
mitigate the misuse of the corporate fraudulent activities and the rise in the corporate crimes has
led to a pressure in the skilled and professional accountants and the legal specialist in order to
discover an effective way of exposing these frauds in the business world.
The financial frauds related to the corporate world can be discovered from the current
bank failures globally where the management has deceitfully has given out loans without the
permission of the board and yet the annual report of these banks has been unqualified. Even
though utilisation of “forensic accounting” is not collective in Trinidad and Tobago, the extent to
which the financial indiscretions in Trinidad and Tobago is expanding particularly in the
financial sector that has put emphasis on the demand for “forensic accounting” mechanisms that
are to be exploited. Sookram (2016) cited that change is constant and the response and the

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answer to these transformations in the fraudulent operations that is existent in the corporate
companies and the expertise of the forensic accountants which is inclusive of the legal
professionals, investigators in order to fight the corporate menace which is dominant. In
accordance to the problems that have been explained, this research paper looks to investigate the
degree to which “forensic accounting” is fighting with the deceitful operations and the effect on
corporate governance of the business firms.
The actual cause of all the issues in the financial sector is an ineffective and meagre level
of “corporate governance” and an effective level of corporate governance is looked upon to be an
effective functioning of any organization. Wilkins and Esteban Ferrer (2017) explained that
fraud cases mainly occur due to the ineffective corporate governance as instances arise that a
fraud or a mistake can take place. The absenteeism of an effective accounting regulations and
policies within a company additionally deteriorates the the corporate documenting process and it
is the auditor’s obligation to look for any kind of frauds that have been committed and the
admission to the transparency of the financial statements that have been disclosed by the higher
level management. Canterbury (2016) examined the development of “forensic accounting”
because of an extensive level of financial frauds and recognised the key responsibilities that are
related to a forensic accountant in handling with these kinds of frauds. Hence, it is seen that
“forensic accounting” make priceless additions to the corporate governance by generating a
favourable working scenario that would lead to detection of frauds, examination of the doubtful
scenarios and efficient level of communication. Minto-Coy and McNaughton (2016) recognised
that a forensic accountant is an accountant who has the capability of accounting, forensic
capabilities, auditing in order to handle with the deceitful activities. On distinct scenarios, the
forensic accountant may give out additional professional assistance, proofs, evidences on the

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current hearing at the court and therefore may defined to be a “litigation accountant”. Therefore,
the function of an accountant is necessary to influence “corporate governance” in Trinidad and
Tobago and thereby the responses of the various organizations that are operational in the country
has to be assessed in order to recognise the awareness of “forensic accounting” in the country.
This thesis has been constructed in order to ascertain the impact of “forensic accounting”
in battling with the falsified operations in order to make sure that effective level of corporate
governance in Trinidad and Tobago is maintained.
1.2 Research Problem
Bhargava and Madala (2014) stated that “forensic accounting” is identified as having a
distinct method of the specialised knowledge and gifted with various features within which there
are neutrality, rationality and freedom. The forensic accountants have a specific communal
recognition that is significant to the interpretation of the economic problems into the symbolic
representation of trust. The significant social value that is possessed by the forensic accountants
is the key capability by which the interpretations are understood.
“Forensic accounting” provides cultural arbitration for the political and the economic
aspects. It is the area within which the cultural arbitration of the claims related to the political
and economic aspects are fulfilled. In the first few years of the twentieth century, there has been
a large number of corporate failures, scandals and failures. These scenarios have led to the
various recessions and thereby had an impact on the effective operations of the independent
market. There were certain scenarios that have been handled by the public accountants. The
failures, scandals and frauds have led to the loss of confidence by the financial reports and have
led to the development and rise in the demand for forensic accountants.

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On the other hand, there have been big organizations that have been found to be involved
in frauds and scandals as it is seen that the higher level management has the access to the
important data for the organization and thereby make changes in the same in order to persuade
the society and the community. Hence, the forensic accountants have played a key role in the
litigation and the other legal arguments stimulated by the current failures and frauds. The factor
is that very less knowledge and information is available and therefore this study has been
undertaken in order to discover the impact of “forensic accounting” in the corporate governance.
1.3 Research Objectives
The aim of the research areassociated to the understanding of the areas and the aspects that
would be taken into consideration when assessing the research topic. Hence, the research
objectives that have been constructed for this paper are as follows:
 To determine whether “forensic accounting” is an efficient technique and tool for
explaining the financial frauds in the financial sector in Trinidad and Tobago
 To assess the essentiality of “forensic audit” in guaranteeing “corporate governance” in
the financial sector of the country.
1.4 Research Questions
The research questions have been constructed in order to discover the aspects on which
research would be undertaken by the researcher in order to discover the desired results that is in
accordance to this topic. The research questions are therefore as follows:
Q1. What is the effective tools and techniques for addressing the financial frauds in financial
sector in Trinidad and Tobago?

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Q2. What is the essentiality of forensic audit in safeguarding“corporate governance” in the
financial sector in the country?

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Chapter 2: Literature Review
2.1 Introduction
This segment of the thesis has the purpose of addressing the characteristics and the
factors that have been taken into consideration by various previous researchers who have
commenced research on various elements that are related to “forensic accounting” in several
nations. These elements have been able to recognise the kind of corporate frauds, scandals and
failures that are taking place in several economies and the severity of these kinds of issues. The
literature review would therefore address the suggestions and the opinions that have been
provided by other researchers with the help of which an idea can be attained and accordingly this
research paper can be concluded in an effective manner.
2.2 “Forensic accounting” and Accountants
There have been numerous researchers and authors who have come up with several
explanations for the term “Forensic Accounting”. Blanc et al. (2017) explained “forensic
accounting” as the process and the exercise of extensive collection of data and the assessment in
the regions of trial assistance consultation, skilled observing and inspection of frauds. Khan,
Serafeim and Yoon (2016) has the believe that forensic examination is all about the
establishment and the determination of the data that supports any kind of legal cases and this
means to make use of “forensic accounting” tools in order to identify and evaluate a crime
thereby addressing all their characterises and accordingly recognise the malefactors. Yiu, Wan
and Xu (2018) have viewed that forensic is the mechanism of briefing, understanding and
presenting the difficult financial problems in a clear manner, concisely and factually in the law
court as a professional. “Forensic Accounting” is adequately complete and thorough with the
help of which an accountant in their self-governing decision can provide an answer the

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inventories,accounts or the presentation which is inclusive of the value that needs to be
continuous in certain confrontational legal actions or within certain administrative or judicial
overview.
“Forensic accounting” is the incorporation of auditing and examines the services. Gaynor
et al.(2016) explains “forensic accounting” as the implication of the ideas of accounting and
methods to the lawful issues. It looks for documenting, where the frauds have been generated
and the documents that are looked upon as the proof of the law court or the management
proceedings.
According to Garner, Hutchison and Conover (2016), “forensic accounting” is identified
as a specific practise of the skilled proficiency and the gifted with special features. The
identification is determined by gaining an official documentation in the “forensic accounting”
which gives the representative worth. It is associated to the utilisation of the disciplines of
accounting in order to ascertain the problems of the information in the business lawsuit.
According to Labelle and Trabelsi (2015), forensic accountants have been qualified to
assess over the numbers and handle with the authenticities of the business scenarios. The
assessment, overview, interpretation and the presentation of the perplexed financial business
associated problems are noticeable characterises of this profession. They further explained that
the operations of the forensic accountants are associated to the assessment and examination of
the financial data, creating computerised mechanism in order to support in the evaluation and
documentation of the financial information which would be helpful in the legal actions that is
inclusive of testifying in courts as a professional witness and creating the visual assistance in
order to support the trial evidence.

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He et al.(2017) explains “forensic accounting” as the service that is inclusive of the
implication of the skilled knowledge and examine the expertise that is possessed by the CPAs.
The ““forensic accounting”” services look to make use of the specialised auditing, economic,
accounting and other skills of the professional. Birkey, Guidry and Patten (2017) explain that
“forensic accounting” is the extensive assessment of the exploration of fraud. It is inclusive of
restricting frauds and evaluating the techniques that are used in order to identify frauds. The
process even includes collection of non-financial information. Bhasin (2016) distinguishes
between fraud auditing and “forensic accounting”. A fraud auditor is looked upon as the
accounting who specialises in auditing and on the other hand the “forensic accounting” may
consider fraudulent auditing operations and may even be a scam auditor but they will not make
use of other accounting, legal expertise and consultation for wider engagements. Ettredge, Xu
and Yi(2014) explain that fraud auditing is the process of collecting, documenting the data in the
basis that will be permitted by the justice court against the ones who are undertaking economic
crimes. Henke and Maher (2016) explained “forensic accounting” is the implication of the
analytical and investigative expertise for the purpose of rectifying the financial problems in a
way that is able to satisfy the standards that is demanded by the court of law. Therefore,
“forensic accounting” is incurve of the explicit idea of fraud even though fraud examinations is a
section of “forensic accounting”.
“Forensic accounting”is looked upon as a self-control that has their unique
methodologies and frameworks for the examination process that looks for attestations, assurance
and advisory point of view in order bring out legal evidences. Narayanaswamy, Raghunandan
and Rama (2018) debates that fraud can lead to subjective “forensic accounting” as the frauds are
surrounded by the acquisition of the economic or property benefits by means of fraud either with

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a distortion or a disguise. Goddard and Malagila (2015) cited that the aims of “forensic
accounting” is inclusive of the evaluation of the damages that is cause to the negligence of the
auditors, fact finding and to observe whether an misappropriation has occurred in what extent
and whether the legal measures are to be undertaken, gathering of the evidences in the legal
proceedings and the assessment of the value of the assets in such actions.
It is seen that all the definitions not only has changes but in certain cases there are
inconsistentparticularly as it relates to the addition of scam. Yu, Xu and Zhang (2016) explained
that the word “forensic accounting” is applicable for assessing the accounting data in order to
contemplate for answering the question whether “forensic accounting” is a profession in “United
States”. As explained by Bishop, DeZoort and Hermanson (2016), “public accounting” has a
constitutional domination only over the process of auditing. The process of accounting has no
domination authority over the services and roles related to non-auditing. The unavailability of
monopoly authority over the “non-auditing services” creates the door for a new occupation in
order to develop specific and distinctfrom public accounting.
2.3 Forensic Auditor and “forensic accounting”
The word “forensic” refers to associating to the implication of technical understanding
and information to the legal issues or the ones that can be used in the court. Sands, Rae and
Gadenne (2016) explain “forensic” as the fitting in to, utilised in or appropriate to the courts of
justice to the communal deliberations and the arguments. Therefore, from the explanations that
have been provided earlier, it can be said that forensic auditors are the professionals concerned
with the financial issues who are competent in discovering, examining and deterring crimes and
scandals along with the scandals which are shown to the court thereby taking of legal
proceedings.

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Al-Shaer, Salama and Toms (2016) explained ““forensic accounting”” services are
associated with the implication of the special expertise in accounting, auditing and quantitative
process, finance, distinct aspects of law in order to assess, collate and analyse the evidential
matter which is known as evidence in the forensic aspect. From these aspects, it can be said that
the forensic auditors have the power and proficiency skill and can be known to undertake
examination on the matters related to finance, which may be utilised in the court of law and can
be known in the law court in order to provide evidences on the problems associated to the
financial frauds.
Kanagaretnam et al.(2017) explained that liquidity of the securities of the organization
has an impact on the capital cost of the company. A key constituent of liquidity is extensive cost
of assortment, which are seen in the “bid”, “ask spread” and “market effected costs”.
The management has the accountability to implement processes in place with the help of
which the internal scandals can be reduced or eliminated from the structure. An extensive
internal control process can play an absolute role, internal frauds are scandals, abuses and the
wastes that take place within the company and may associate to the contractual employees,
permanent employees and the vendors.
2.4 Financial Fraud
Financial fraud has several explanations in the economy. Wijayati, Hermes and
Holzhacker (2016) explained fraud to be the crime or the scandal for cheating somebody in order
gain money and other items in an illegal manner. Blanc, Patten and Branco (2016) explain fraud
to be the crimes that are against the property and are related to the unlawful conversation of the
estate that is belonging to anyone else. Ng et al.(2017) explains fraud to be inclusive of the

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factors like cronyism, artificial pricing, bribes, nepotism and political donations. The array of the
elements of the financial scandals, out of which are addressed above is not comprehensive.
Watts and Zuo (2016) looks to obtain the financial and the economic scandals that is seen
within or outside the company. Chan, Jiang and Mo(2017) explain fraud as the illegal activities
that disrupt the current legislation and these may be inclusive of any sorts of scandals. This
explanation is surrounding and imaginably is inclusive of the financial scandals in the corporate
companies that have been explained by the other researchers.
Adebisi and Gbegi (2015) are in the idea that financial fraud in the companies are
different extensively in nature, method and character of the activities that are in common. Frauds
may be segmented into two huge processes: nature of the one who has done the fraud and the
process that is employed in undertaking the fraud. By looking at the character of the one who has
mad the fraud, fraud can be segmented into three sections that are external, internal and mixed
frauds. The internal frauds are related to the ones that are committed by the employees and the
management of the company and on the other hand the external frauds are committed to the
individuals who are not associated with the company. The mixed frauds is dedicated to the
outsiders conspiring with the employees and the management of the company. Holzhacker,
Krishnan and Mahlendorf (2015) documents that the recognition of the causes of the scandals are
very complex. They explained that modern day companies, the scandals generally involve a
perplexed series of deception and conspiracy that generally recognises the real cause. Gassen and
Fülbier (2015) are in the idea that on an aggregate, out of every employee, 10 employees would
be looking for processes to steal if the provided benefit and out of the same 4 of them are honest.

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2.5 “Forensic accounting” and Financial Fraud
“Forensic accountants” have been seen to be the skilled auditors, investigators and
accountants who have sufficient knowledge on the financial and the legal reports that are
engaged in order to assess the probable doubts of the false operations within an organization or
are leased by an organization who may just want to restrict the false operations that are taking
place. Abbott, Brown and Higgs (2015) has noted that the operations of the ““forensic
accounting”” are exploited in the aspects like the damages, valuation, accounting and common
consultation. Forensic accountants have even been used for activities like bankruptcy, divorces
and several kinds of insurance claims. Lopes, Walker and da Silva (2016) made a documentation
of certain banking activities and gave out the disreputable data various banks. There have been
five protruding banks that have disclosed insolvent, sequentially not liquid with the disclosure
that they had extensively eroded the funds of the shareholders and thereby practically have
breached all the banking ratios.
Pucheta‐Martínez, Bel‐Oms and Olcina‐Sempere (2016) cited on the implication of
“forensic accounting” in the developing nations and thereby states that “forensic accounting” has
been going through several kinds of bottlenecks. Nalukenge, Tauringana and MpeeraNtayi
(2017) explained the following issues that are faced during the implication of the ““forensic
accounting””.
 A key issues that is faced by a “forensic accountant” is the job of collecting the data that
is acceptable by the court of law
 The evidence, acceptability that is in obedience with the laws related to the indication,
which is vital to effective actions of the civil and the criminal claims.

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 The economic globalisation and the fact that a person who is creating a fraud can be
based at any place in the globe and has created the issues of internal dominion.
 The law is not upgraded with the current developments in the technology. Hence,
forensic accountants and the lawyers have to depend on the acts that are outdated, laws
that are of common feature or on the acts that have not yet confirmed their efficiency in
taking legal action against the fraudsters.
 The forensic examinations generally wind up as a proof in the legal actions that are
inclusive of in-depth trails
2.6 Impact of Forensic Auditor in Corporate Governance
2.6.1 Corporate Governance and Audit Functions
“Statutory Audit” is looked upon as an audit that is needed by the laws as to put forth the
credibility to the financial report and to make sure that sufficient and effective financial records
have been kept as demanded by the decrees, GAAP and policies (Boyle, DeZoort and
Hermanson 2015).
The external auditors by the rules of the law is needed to be chosen by the shareholders
and in most of the cases the management with regards to the shareholders select the exterior
auditors and it is their income statements and books of accounts that is being assessed. By
assessing the above explanation, it can be addressed that the method of selection of the external
auditors has impacted harmfully the presentations of the external auditors in undertaking their
corporate governance role in an effective manner and thereby make the investors to drop faith in
confidence in the yearly corporate documents of the organizations (Peters and Romi 2014). An
example can be seen from the “Arthur Andersen of Enron” and WorldCam “auditor” who were

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accused for extensive deceitful financial reports which had an impact on the investors and the US
economy. The problem of fraud in the corporate governance can be mitigated by bringing in fear
to the management and the employees when undertaking their functions of audit.
In accordance to “SAS 99”, the external auditors are given leadership that has the
probability to enhance the quality of the audit in discovering the substantial financial
misinterpretations, which have been created by the error and the fraud. SAS No 99 is inclusive of
the recommendations that an auditor would react to a recognised risk of the material
misstatements because of the frauds by allocating or appointing forensic experts.
2.6.2 Management Accountability
The management is responsible to the shareholders and the associated stakeholders. The
administration of the organizations are said to be individually accountable for creating the
accounts and upholding sufficient financial statements (Chen et al. 2016). Furthermore, they are
even accountable for discovering and restricting the scandals in their companies, while on the
other hand the responsibility of the external auditors is to make sure that the accounts that have
been created by the management of the organizations are in accordance to the Generally
Accepted Accounting Principle (GAAP) and the doctrines. The external auditors have been
incompetent to accept the obligations in order to discover the frauds even though “SAS 55” has
demanded the external auditors to disclose the material misappropriations and the errors that
have taken place due to false and deceptive operations. Lee and Turner (2017) explained that
incompetency of the structure of the corporate announcement has made the fiscal society
understand that there is a greater need for the expert specialists that can recognise, disclose and
restrict the limitations in the three essential areas and they are ineffective corporate governance,
faulty internal controls and the falsified financial reports.

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Nevertheless, by looking at the responsibilities that have been addressed earlier, these are
not granted by the “auditors”; thereby leading to “corporate deceptions” and most of the cases
the commercial incompetency and the ineffective level of “corporate governance”. In order to
ascertain the effective answerability and restrict the administration frauds, the “forensic auditors”
have been professionals in the matters related to financial frauds with professional skills in the
scientific facts and the legal issues that have assisted the administration to enhance their function
by giving out software programs which assists the management to discover easily and restrict the
fraudulent operations (Kabir and Thai 2017). The administration being conscious that the
“forensic auditors” may be invited to discover and restrict the deceptive operations and they
would make sure that their companies has an effective internal control process, balances and
checks which are lucid and thereby optimistically has an influence on corporate governance.
2.6.3 Agency Theory
The internal audit and the agency theory as explained by Li and Yang (2015) is one of the
theoretical structure that has coursed the paper. Agency theory is employed extensively in the
literature of accounting in order to address and estimate the selection and the appointment of the
“external auditors” and the “financial consultants”. They have even debated that “agency theory”
even gives out a supportive hypothetical structure for the examination of the function of “internal
auditing”. They even projected that “agency theory” not only assists to address and assume the
availability of the internal audits but that even assists in describing and estimating how theroles
of internal audit is likely to be impacted by the changes in the organization. The author even
accomplishes that “agency theory” provides a base for effective research and can be beneficial
for both the theoretical society and the profession of “internal auditing”. This theory without any
doubt associates with this paper as it assists in explaining the accountabilities and the roles of the

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internal auditors, which id in a methodological manner applied, would be helpful in enhancing
the financial performance in the financial sectors of a country.
Reid and Carcello (2016) explained that agency theory explains companies as the
essential frameworks to maintain the agreements and with the help of the companies; it is
conceivable to implement the control, which reduces the unprincipled attitude of the
representatives. In order to synchronise the curiosity of the representative and the primary, an
extensive agreement is constructed in order to explain the attention of both the principal and the
agent and they additionally addresses that the relationship is additionally fortified by the
principal by appointing a professional in order to administer the agent.
Hines et al.(2015) reviewed the impact of “forensic accounting” towards making use of
the expert judgments, skills of accounting, auditing laws and process in a conceptual manner in
order to combat the adverse disease of the corporate liquidation and the research ended with the
result that forensic auditing can move ahead to loner course to have an influence on the financial
scandals in the business organizations.
Cohen and Simnett (2014) cited in the research paper explained that the functions of the
“forensic auditors” in battling with the deceptive operations, differences of the “forensic
auditors” and statutory auditors, features of the “forensic auditor” and the effect of the “forensic
auditor” on “corporate governance”. The research ends with the fact that “forensic auditors” have
led to the development of the management responsibilities, fortified the freedom of the “external
auditors” and supporting the “audit committee members” in undertaking their misunderstanding
role by giving them the assertion on the internal audit report that have affected in a positive

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manner to the corporate governance and thereby eliminating corporate failures and destitution of
the investors.
Ke, Lennox and Xin (2014) assessed the efficiency of forensic auditing in discovering the
restricting the frauds that are seen in Harare. The research made use of the personal interview,
questionnaires and report review in order to gather data from the participants from several
financial organizations and banks. The paper explained that the department of forensic auditing
has been lack of material sources from the management of a company and the expert has no
precise identification.
2.7 Summary of the literature
The literature review that has been generated for this paper has explained that there are
several aspects that are related to “forensic accounting” and the results have shown that “forensic
accounting” is one of the key processes with the help of which the financial failures and the
scandals that have been taking place can be identified and thereafter the ones who have been
doing these activities can be recognised and steps can be taken with the help of which these
scandals and the failures can be mitigated from an economy.

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Chapter 3: Research Methodology
3.1 Introduction
This segment of the paper is associated with understanding the method and the
techniques that have been utilised in order to gather the effective data that is related to this
research and thereby create extensive knowledge with the help of which this data analysis
process can move forward and thereby results can be obtained in order to conclude this paper.
There are various sorts of data that is seen to be available to the researcher and it is in the
discretion of the researcher to choose the most suitable data with the help of which the researcher
can complete this paper. The methodology section of the paper comprises of the research
philosophy, research approach, research design, method of gathering the data and the data
assessment process with the help of which the researcher would be able to customise the most
effective data for this research paper.
3.2 Justification for the choice of methodology
In the current economy, there are two sorts of methodologies that are available to the
researcher. The selection of the methodology is on the perspective of the researcher and on the
topic on which the research has been undertaken in order to gather the most suitable data. The
two kinds of methodologies that is accessible to the researcher are the quantitative and the
qualitative method of research. By assessing the topic that has been taken into consideration by
the researcher, it is seen that it is beneficial to undertake quantitative research methodology as
the paper would look to gather answers from the selected respondents and thereby collect
answers that would be influential for the research paper. The collected variables that would be
taken into consideration would undergo numerical data analysis in order to complete the paper in
an effective manner.

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3.3 Research Philosophy
The research philosophy is known as the conviction and the knowledge about the
procedure and the mechanisms with the help of which the information in association to the
research topic would be analysed, used and collected (Vaioleti 2016). The three kinds of
philosophies that are available to the researcher and they are interpretivism, positivism and
pragmatism philosophies. In accordance to this research paper, the researcher has looked to
choose positivism philosophy as the research tries to assess the data that would be gathered and
accordingly positive explanation would be undertaken with the help of which the results would
be attained.
3.4 Research Approach
The research approach is associated with addressing the models, structures and the
frameworks that would be taken into consideration by the researcher in order to gather the
information and thereby initiate a critical evaluation in order to gain valid and precise results.
The researcher has the choice of selecting the suitable approach from the two kinds of
approaches that are available to the researcher (Choy 2014). The two type research approaches
are “inductive approach” and the “deductive approach”. The inductive approach is related to
creation of the new and innovative models and theories with the help of which new and ideas and
results can be established. On the other hand, the deductive approach is associated with making
use of the data, theories and the structures that are already existent in the market and thereby the
results that would be obtained would be useful for the collection of effective results. In this
aspect, the researcher has chosen the deductive approach as it is seen that the existent
frameworks and models would be used and in the same way the responses that are gathered from

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the respondents would be used in order to gain the actual results. The use of deductive approach
is ideal for this research topic.
3.5 Research Design
The research design is associated with framing a design or a structure that would be
considered by the researcher in order to course the research in an effective manner (Dumay and
Cai 2015). The researcher has therefore looked to implement exploratory research design as it is
seen that this research would look to explore the responses that has been received from the
selected participants and thereafter extensive evaluation of the values will be undertaken with the
assistance of which actual results would be obtained.
3.6 Process of Data Collection and Design of the Questionnaire
The procedure associated with the method of data collection is the actions that would be
undertaken with the help of which the data that is appropriate with this research can be collected.
The topic is related to understanding the impact of “forensic accounting” on the “corporate
governance” in the companies in Trinidad and Tobago and therefore data would be collected
from the employees who are operating in the companies functioning in Trinidad and Tobago.
This data is known as the primary data as the responses that would be gained will be exploited
for the determination of assessment of the data. The data would be collected with the help of
questionnaire, which would be forwarded to the selected participants and thereafter responses
from them would be collected. The questionnaire has been constructed in accordance to the topic
of the research and the questions are close ended so that it would influence the respondents to
answer the questions freely (Wiek. and Lang 2016).

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3.7 Sampling and Sample Size
The sampling mechanism is the course of action with the help of which a group of sample
would be generated in order to collect the information apt for the research topic. The sample is
used in order to undertake precise level of evaluation of the required data and after which the
actual outcome for the paper can be reached. The researcher in this paper has chosen 25
respondents from a large pool of the employees who are operating in Trinidad and Tobago and
responses provided by them would be used.
3.8 Data Analysis Technique
The procedure of data assessment is constructed by taking assistance of the available
tools and equipment that is vital for the data evaluation. Accordingly, in this paper, the
researcher tries to exploit the SPSS software and accordingly the results that would be given out
by the software would be used for the purpose completing this research paper.
3.9 Ethical Consideration
The researcher, while gathering the data has concentrated on the ethical aspect and
therefore has looked to collect the data from true and fair means and resources so that the results
that would be reached in this paper would be valid and authentic.

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Chapter 4: Data Analysis and Discussion
4.1 Introduction
This section of the paper is one of the most significant aspects that needs to be taken into
consideration by the researcher in order to have an understanding of the issues that are related to
this topic. It is observed that the data that has been gathered with the help of survey analysis has
been assessed in order to gain the results that would be effective in the conclusion of the paper
and answering the issues related to the impact of “forensic accounting”, “auditing and
investigation” on the “corporate governance” in the financial sector in Trinidad and Tobago. This
section of the paper would undertake a frequency analysis with the help of which all the
questions would be answered individually and accordingly correlation and regression analysis
would be undertaken.
4.2 Frequency Analysis
Answer to Question No 1
Q1.Gender
Frequency Percent Valid Percent Cumulative
Percent
Valid
Female 14 56.0 56.0 56.0
Male 11 44.0 44.0 100.0
Total 25 100.0 100.0

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This question is related to having an understanding of the gender of the selected
participants and it is seen that 56% are female and the rest of 44% are male. This indicates that
most of the respondents who have answered to this survey are female.
Answer to Question No 2
Q2.Age Group
Frequency Percent Valid Percent Cumulative
Percent
Valid 18-24 years 7 28.0 28.0 28.0

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25-34 years 6 24.0 24.0 52.0
35-44 years 6 24.0 24.0 76.0
45-54 years 4 16.0 16.0 92.0
55 years and above 2 8.0 8.0 100.0
Total 25 100.0 100.0
This question is associated to having an understanding of the age group of the
respondents and it is seen that 28% of the respondents have an age within 18-24 years and 24%
have age group of 25-34 years and the same percentage of 24% have age within 35-44 years. It is
seen that 16% of them are within the age group of 45- 54 years. A small percentage of 8% are
within the age group of 55 years and above. The results have indicated that most of the
respondents are middle aged.

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Answer to Question No 3
Q3.Educatonal Status
Frequency Percent Valid Percent Cumulative
Percent
Valid Bachelor's Degree 9 36.0 36.0 36.0
Doctorate 1 4.0 4.0 40.0
Master's Degree 3 12.0 12.0 52.0
Secondary 12 48.0 48.0 100.0

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Total 25 100.0 100.0
This question looks to assess the educational status of the respondents and it is seen that
most of the respondents comprising of 48% have secondary degrees and 36% of them have
bachelor’s degree. 12% of the respondents have master’s degree and a small percentage of 4%
have doctorate degree. The results have indicated that most of the respondents have the
minimum amount of qualification that is essential for the undertaking of the survey analysis.

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Answer to Question No 4
Q4.Position in the Organization
Frequency Percent Valid Percent Cumulative
Percent
Valid
Junior Staff 7 28.0 28.0 28.0
Management 5 20.0 20.0 48.0
Middle level staff 13 52.0 52.0 100.0
Total 25 100.0 100.0
This question associates with the understanding of the position the respondents hold
within the companies. The results explain that 52% of them are middle level of employees and
the next percentage of the respondents are from the junior level consisting of 28%. The other
20% of the respondents are from the management level.

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Answer to Question No 5
Q5.Years of Experience
Frequency Percent Valid Percent Cumulative
Percent
Valid 1-2 years 5 20.0 20.0 20.0
3-4 years 7 28.0 28.0 48.0
5-6 years 2 8.0 8.0 56.0
7-8 years 3 12.0 12.0 68.0
8 years and above 8 32.0 32.0 100.0

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Total 25 100.0 100.0
This question looks to discover the experience of the respondents with respect to working
in this sector and the results have provided that 32% of them have experiences of over 8 years.
28% of them have been working in this sector for 3-4 years. 20% of the respondents have an
experience of 1-2 years and 12% of them have experiences of 7-8 years. A small percentage of
8% have experience of 5-6 years. This indicates that most of the respondents have sufficient
experiences and therefore would be able to provide data that would ideal for the completion of
this research paper.

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Answer to Question No 6
Q6.The forensic auditor has the capability of fighting fraudulent activityies and
ensure the sanity in the corporate company
Frequency Percent Valid Percent Cumulative
Percent
Valid Agree 19 76.0 76.0 76.0
Disagree 1 4.0 4.0 80.0
Neutral 2 8.0 8.0 88.0
Strongly Agree 3 12.0 12.0 100.0

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Total 25 100.0 100.0
With respect to this question that have been recognised by the researcher that relates to
having an understanding of ““forensic accounting”” have the ability of fighting the fraudulent
activities, a large percentage of the respondents comprising of 76% have agreed to this statement.
It is seen that 12% more have strongly agreed to this statement. It is seen that 8% of them have
remained neutral and a small percentage of 4% have disagreed. None of the respondents have
selected the “strongly disagree” point. This indicates that forensic auditors are able to detect and
combat with fraudulent activities.

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Answer to Question No 7
Q7.Forensic auditor who are skilled in the detection of fraud, specifically for
successful criminal prosecution and are able work in difficult regulatory and
litigation atmosphere
Frequency Percent Valid Percent Cumulative
Percent
Valid Agree 15 60.0 60.0 60.0
Neutral 7 28.0 28.0 88.0
Strongly Agree 3 12.0 12.0 100.0

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Total 25 100.0 100.0
This question looks to answer whether the forensic auditors are able to function in
complex regulatory and litigation environment. The results have indicated that 60% of the
respondents have agreed to this response and 28% of them have remained neutral. This indicates
that a large percentage of respondents have looked to avoid this question. The rest of the
respondents have strongly agreed to this question and the percentage has been 12%. None of the
respondents have given a negative feedback to this question and thereby it can be said that the
forensic auditors are able to work in complex and litigated environment as well.

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Answer to Question No 8
Q8.Forensic auditor reduces the repetition of the fraudulent cases in the finanacial
sector
Frequency Percent Valid Percent Cumulative
Percent
Valid Agree 16 64.0 64.0 64.0
Disagree 1 4.0 4.0 68.0
Neutral 2 8.0 8.0 76.0
Strongly Agree 6 24.0 24.0 100.0

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Total 25 100.0 100.0
This question has looked to answer whether the forensic auditors reduces the repetition of
the fraudulent activities in the financial sector. In accordance to this question, 64%, which is a
large percentage have agreed to this statement and 24% have strongly agreed. 8% of them have
remained neutral and a small section of 4% have disagreed to this point. The results indicate that
repetition of these fraudulent cases can be reduced with the help of the activities that have been
undertaken by the forensic auditors.

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Answer to Question No 9
Q9.ForensicAccouting can be helpful in preventing and detecting the frauds in the
financial sector
Frequency Percent Valid Percent Cumulative
Percent
Valid
Agree 9 36.0 36.0 36.0
Neutral 6 24.0 24.0 60.0
Strongly Agree 8 32.0 32.0 92.0
Strongly Disagree 2 8.0 8.0 100.0
Total 25 100.0 100.0
This question has looked to answer whether ““forensic accounting”” can be helpful in
detecting and restricting the frauds in the financial sector. The results that have been gathered
from the respondents indicate that 36% agree to this statement and 32% have strongly agreed to
this statement. It is seen that a large percentage of respondents have agreed to this point and even
a large percentage of 24% have remained neutral explaining that they have been reluctant in
answering to this question. On the other hand, it is seen that 8% of the respondents have strongly
disagreed to this statement. The results explain that ““forensic accounting”” can be helpful in
detecting and preventing the frauds in the financial sector.

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Answer to Question No 10
Q10.The practice of ““forensic accounting”” aids in mitigating the financial frauds
Frequency Percent Valid Percent Cumulative
Percent
Valid Agree 12 48.0 48.0 48.0
Disagree 3 12.0 12.0 60.0
Neutral 7 28.0 28.0 88.0
Strongly Agree 3 12.0 12.0 100.0

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Total 25 100.0 100.0
This question looks to answer whether ““forensic accounting”” practice is able to support
the elimination of the financial frauds. It is seen that 48% agree to this statement and another 125
strongly agree to this point. It is seen that 28% have remained neutral and a small percentage of
12% disagree to this point. The responses are therefore able to answer that practices related to
““forensic accounting”” are able to mitigate the issues related to financial frauds.

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Answer to Question No 11
Q11.Forensic auditing assisted in ensuring that management is more diligent in
carrying out their functions in an effective manner to ensure corporate governance in
the financial organizations
Frequency Percent Valid Percent Cumulative
Percent
Valid
Agree 11 44.0 44.0 44.0
Neutral 9 36.0 36.0 80.0
Strongly Agree 2 8.0 8.0 88.0
Strongly Disagree 3 12.0 12.0 100.0
Total 25 100.0 100.0
This question looks to answer whether forensic auditing ensures that the management
remains more diligent in performing their functions in a precise manner in order to maintain
corporate governance in the financial firms. The results indicate that 44% agree to this point and
a small percentage of 8% strongly agree. A large percentage of 36% of the respondents have
remained neutral with respect to this question. It is seen that the rest of the respondents
comprising of 12% strongly disagree to this point and thereby explaining thatforensic auditing
ensures that the management remains more diligent in performing their functions in a precise
manner as most of the respondents have agreed to this statement.

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Answer to Question No 12
Q12.Forensic auditor makes the management responsible to the shareholder and
the other stakeholders in order to ensure effective corporate governance
Frequency Percent Valid Percent Cumulative
Percent
Valid Agree 10 40.0 40.0 40.0
Disagree 7 28.0 28.0 68.0
Neutral 7 28.0 28.0 96.0
Strongly Agree 1 4.0 4.0 100.0

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Total 25 100.0 100.0
This question looks to answer whether ““forensic accounting”” makes the management
accountable to the shareholders and the related stakeholders for effective level of corporate
governance and the responses that have been received indicates that 40% of the respondents
agree to this point and 4% on an addition have strongly agreed to this statement. It is seen that
28% of the respondents have remained neutral and the same percentage of 28% have disagreed
to this statement. On an overall point of view, it is seen thatwhether ““forensic accounting””
makes the management accountable to the shareholders and the related stakeholders for effective
level of corporate governance.

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Answer to Question No 13
Q13.Failure of the internal auditors lends to corporate frauds and in many cases
corporate failure and ineffective corporate governance
Frequency Percent Valid Percent Cumulative
Percent
Valid
Agree 14 56.0 56.0 56.0
Neutral 5 20.0 20.0 76.0
Strongly Agree 6 24.0 24.0 100.0
Total 25 100.0 100.0

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This question looks to answer to the fact that failure of the internal auditors lends
corporate frauds and in certain cases corporate failure and inefficient corporate governance. It is
seen that 56% of the respondents have agreed to this point and another percentage of 24%
strongly agreed. The rest of 20% have remained neutral. The non-availability any negative
response indicates that failure of the internal auditors lends corporate frauds and in certain cases
corporate failure and inefficient corporate governance.

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Answer to Question No 14
Q14.With the implication of the forensic suitor the management of the companies are
looked upon to be the solely accountable for maintaining sufficient and effective
financial records
Frequency Percent Valid Percent Cumulative
Percent
Valid
Agree 16 64.0 64.0 64.0
Disagree 1 4.0 4.0 68.0
Neutral 1 4.0 4.0 72.0
Strongly Agree 6 24.0 24.0 96.0
Strongly Disagree 1 4.0 4.0 100.0
Total 25 100.0 100.0
This question looks to answer the fact that implication of the forensic suitor the
management of the organizations are considered to be solely accountable for maintaining
adequate and efficient financial records. The results that have been obtained indicates the fact
that 64% have agreed to this point and 24% have strongly agreed to this point. It is seen that 4%
remain neutral and the same percentage of 4% disagree to this point. The same percentage of 4%
strongly disagree to this statement. The results indicate thatimplication of the forensic suitor the
management of the organizations are considered to be solely accountable for maintaining
adequate and efficient financial records.

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Answer to Question No 15
Q15.Forensic auditor being professionals in the matters of financial frauds with
expertise skills with knowledge in the legal matters have assisted in improving the
effective level of corporate governance
Frequency Percent Valid Percent Cumulative
Percent
Valid Agree 15 60.0 60.0 60.0
Neutral 2 8.0 8.0 68.0
Strongly Agree 7 28.0 28.0 96.0
Strongly Disagree 1 4.0 4.0 100.0

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Total 25 100.0 100.0
This the last question that is asked to the respondents and this question looks to answer
whether forensic auditors being professionals in the subject of financial frauds with the expertise
skills in the legal matters have supported in developing the efficient level of corporate
governance. The results have indicated that 60% agree to this point and 28% strongly agree. 8%
remain neutral to this point and the rest of respondents comprising of 4% strongly disagree to
this point. Hence, it can be stated that forensic auditors being professionals in the subject of
financial frauds with the expertise skills in the legal matters have supported in developing the
efficient level of corporate governance.

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4.3 Correlation
The correlation analysis has the intention of explaining the relationship among all the
variables and the questions that have been taken into consideration. It is seen that there are
several questions that are related to having an understanding of the result that is related to the
current topic. Correlation looks to create an understanding of the mutual relationship among all
the variables and how each of them are interested to each other. The table that is given below
provides an extensive idea about the correlation among all the variables that have been taken into
consideration in this research paper.

53THE POSITIVE IMPACT OF FORENSIC ACCOUNTING, AUDITING AND
INVESTIGATION ON CORPORATE GOVERNANCE IN THE FINANCIAL SECTOR OF
TRINIDAD AND TOBAGO
Correlations
Q5.Years of
Experience
Q6.The forensic
auditor has the
capability of
fighting
fraudulent
activityies and
ensure the
sanity in the
corporate
company
Q7.Forensic
auditor who are
skilled in the
detection of
fraud,
specifically for
successful
criminal
prosecution and
are able work in
difficult
regulatory and
litigation
atmosphere
Q5.Years of Experience
Pearson Correlation 1 -.219 -.292
Sig. (2-tailed) .294 .156
N 25 25 25
Q6.The forensic auditor has
the capability of fighting
fraudulent activityies and
ensure the sanity in the
corporate company
Pearson Correlation -.219 1 .147
Sig. (2-tailed) .294 .485
N 25 25 25
Q7.Forensic auditor who are
skilled in the detection of
fraud, specifically for
successful criminal
prosecution and are able
work in difficult regulatory
and litigation atmosphere
Pearson Correlation -.292 .147 1
Sig. (2-tailed) .156 .485
N 25 25 25
Q8.Forensic auditor reduces
the repetition of the
fraudulent cases in the
Pearson Correlation -.233 -.084 .753**
Sig. (2-tailed) .263 .690 .000

54THE POSITIVE IMPACT OF FORENSIC ACCOUNTING, AUDITING AND
INVESTIGATION ON CORPORATE GOVERNANCE IN THE FINANCIAL SECTOR OF
TRINIDAD AND TOBAGO
finanacial sector
N 25 25 25
Q9.ForensicAccouting can
be helpful in preventing and
detecting the frauds in the
financial sector
Pearson Correlation .019 .202 -.205
Sig. (2-tailed) .926 .333 .326
N 25 25 25
Correlations
Q8.Forensic
auditor reduces
the repetition of
the fraudulent
cases in the
finanacial sector
Q9.ForensicAcco
uting can be
helpful in
preventing and
detecting the
frauds in the
financial sector
Q10.The practice
of ““forensic
accounting”” aids
in mitigating the
financial frauds
Q5.Years of Experience
Pearson Correlation -.233 .019 -.162
Sig. (2-tailed) .263 .926 .440
N 25 25 25
Q6.The forensic auditor has
the capability of fighting
fraudulent activityies and
ensure the sanity in the
corporate company
Pearson Correlation -.084 .202 .625
Sig. (2-tailed) .690 .333 .001
N 25 25 25
Q7.Forensic auditor who are
skilled in the detection of
fraud, specifically for
successful criminal
prosecution and are able work
in difficult regulatory and
litigation atmosphere
Pearson Correlation .753 -.205 .487
Sig. (2-tailed) .000 .326 .014
N 25 25 25
Q8.Forensic auditor reduces Pearson Correlation 1 -.148 .447**

55THE POSITIVE IMPACT OF FORENSIC ACCOUNTING, AUDITING AND
INVESTIGATION ON CORPORATE GOVERNANCE IN THE FINANCIAL SECTOR OF
TRINIDAD AND TOBAGO
the repetition of the fraudulent
cases in the finanacial sector
Sig. (2-tailed) .479 .025
N 25 25 25
Q9.ForensicAccouting can be
helpful in preventing and
detecting the frauds in the
financial sector
Pearson Correlation -.148 1 .140
Sig. (2-tailed) .479 .503
N 25 25 25
Correlations
Q11.Forensic
auditing assisted
in ensuring that
management is
more diligent in
carrying out their
functions in an
effective manner
to ensure
corporate
governance in the
financial
organizations
Q12.Forensic
auditor makes the
management
responsible to the
shareholder and
the other
stakeholders in
order to ensure
effective
corporate
governance
Q13.Failure of
the internal
auditors lends to
corporate frauds
and in many
cases corporate
failure and
ineffective
corporate
governance

56THE POSITIVE IMPACT OF FORENSIC ACCOUNTING, AUDITING AND
INVESTIGATION ON CORPORATE GOVERNANCE IN THE FINANCIAL SECTOR OF
TRINIDAD AND TOBAGO
Q5.Years of Experience
Pearson Correlation -.071 .058 -.224
Sig. (2-tailed) .737 .784 .281
N 25 25 25
Q6.The forensic auditor has
the capability of fighting
fraudulent activityies and
ensure the sanity in the
corporate company
Pearson Correlation -.050 .147 -.114
Sig. (2-tailed) .812 .485 .588
N 25 25 25
Q7.Forensic auditor who are
skilled in the detection of
fraud, specifically for
successful criminal
prosecution and are able work
in difficult regulatory and
litigation atmosphere
Pearson Correlation .205 .157 .079
Sig. (2-tailed) .326 .453 .706
N 25 25 25
Q8.Forensic auditor reduces
the repetition of the fraudulent
cases in the finanacial sector
Pearson Correlation .242 .099 .198**
Sig. (2-tailed) .244 .639 .342
N 25 25 25
Q9.ForensicAccouting can be
helpful in preventing and
detecting the frauds in the
financial sector
Pearson Correlation .339 .225 -.002
Sig. (2-tailed) .097 .279 .993
N 25 25 25
Correlations

57THE POSITIVE IMPACT OF FORENSIC ACCOUNTING, AUDITING AND
INVESTIGATION ON CORPORATE GOVERNANCE IN THE FINANCIAL SECTOR OF
TRINIDAD AND TOBAGO
Q14.With the
implication of the
forensic suitor the
management of the
companies are
looked upon to be the
solely accountable for
maintaining sufficient
and effective financial
records
Q15.Forensic auditor
being professionals in
the matters of
financial frauds with
expertise skills with
knowledge in the
legal matters have
assisted in improving
the effective level of
corporate
governance
Q5.Years of Experience
Pearson Correlation .342 -.193
Sig. (2-tailed) .095 .355
N 25 25
Q6.The forensic auditor has the
capability of fighting fraudulent
activityies and ensure the sanity in
the corporate company
Pearson Correlation -.346 .204
Sig. (2-tailed) .090 .328
N 25 25
Q7.Forensic auditor who are skilled
in the detection of fraud, specifically
for successful criminal prosecution
and are able work in difficult
regulatory and litigation atmosphere
Pearson Correlation .081 .295
Sig. (2-tailed) .701 .152
N 25 25
Q8.Forensic auditor reduces the
repetition of the fraudulent cases in
the finanacial sector
Pearson Correlation .197 .547
Sig. (2-tailed) .346 .005
N 25 25
Q9.ForensicAccouting can be helpful
in preventing and detecting the
frauds in the financial sector
Pearson Correlation .256 .314
Sig. (2-tailed) .216 .127
N 25 25

58THE POSITIVE IMPACT OF FORENSIC ACCOUNTING, AUDITING AND
INVESTIGATION ON CORPORATE GOVERNANCE IN THE FINANCIAL SECTOR OF
TRINIDAD AND TOBAGO
Correlations
Q5.Years of
Experience
Q6.The forensic
auditor has the
capability of
fighting
fraudulent
activityies and
ensure the
sanity in the
corporate
company
Q7.Forensic
auditor who are
skilled in the
detection of
fraud,
specifically for
successful
criminal
prosecution and
are able work in
difficult
regulatory and
litigation
atmosphere
Q10.The practice of
““forensic accounting”” aids
in mitigating the financial
frauds
Pearson Correlation -.162 .625 .487
Sig. (2-tailed) .440 .001 .014
N 25 25 25
Q11.Forensic auditing
assisted in ensuring that
management is more diligent
in carrying out their functions
in an effective manner to
ensure corporate
governance in the financial
organizations
Pearson Correlation -.071 -.050 .205
Sig. (2-tailed) .737 .812 .326
N 25 25 25
Q12.Forensic auditor makes
the management responsible
to the shareholder and the
other stakeholders in order to
ensure effective corporate
governance
Pearson Correlation .058 .147 .157
Sig. (2-tailed) .784 .485 .453
N 25 25 25
Q13.Failure of the internal
auditors lends to corporate
frauds and in many cases
Pearson Correlation -.224 -.114 .079**
Sig. (2-tailed) .281 .588 .706

59THE POSITIVE IMPACT OF FORENSIC ACCOUNTING, AUDITING AND
INVESTIGATION ON CORPORATE GOVERNANCE IN THE FINANCIAL SECTOR OF
TRINIDAD AND TOBAGO
corporate failure and
ineffective corporate
N 25 25 25
Correlations
Q8.Forensic
auditor reduces
the repetition of
the fraudulent
cases in the
finanacial sector
Q9.ForensicAcco
uting can be
helpful in
preventing and
detecting the
frauds in the
financial sector
Q10.The practice
of ““forensic
accounting”” aids
in mitigating the
financial frauds
Q10.The practice of ““forensic
accounting”” aids in mitigating
the financial frauds
Pearson Correlation .447 .140 1
Sig. (2-tailed) .025 .503
N 25 25 25
Q11.Forensic auditing assisted
in ensuring that management
is more diligent in carrying out
their functions in an effective
manner to ensure corporate
governance in the financial
organizations
Pearson Correlation .242 .339 .077
Sig. (2-tailed) .244 .097 .715
N 25 25 25
Q12.Forensic auditor makes
the management responsible
to the shareholder and the
other stakeholders in order to
ensure effective corporate
governance
Pearson Correlation .099 .225 .119
Sig. (2-tailed) .639 .279 .570
N 25 25 25
Q13.Failure of the internal
auditors lends to corporate
frauds and in many cases
Pearson Correlation .198 -.002 .229**
Sig. (2-tailed) .342 .993 .271

60THE POSITIVE IMPACT OF FORENSIC ACCOUNTING, AUDITING AND
INVESTIGATION ON CORPORATE GOVERNANCE IN THE FINANCIAL SECTOR OF
TRINIDAD AND TOBAGO
corporate failure and
ineffective corporate
N 25 25 25
Correlations
Q11.Forensic
auditing assisted
in ensuring that
management is
more diligent in
carrying out their
functions in an
effective manner
to ensure
corporate
governance in the
financial
organizations
Q12.Forensic
auditor makes the
management
responsible to the
shareholder and
the other
stakeholders in
order to ensure
effective
corporate
governance
Q13.Failure of
the internal
auditors lends to
corporate frauds
and in many
cases corporate
failure and
ineffective
corporate
governance
Q10.The practice of ““forensic
accounting”” aids in mitigating
the financial frauds
Pearson Correlation .077 .119 .229
Sig. (2-tailed) .715 .570 .271
N 25 25 25
Q11.Forensic auditing assisted
in ensuring that management
is more diligent in carrying out
their functions in an effective
manner to ensure corporate
governance in the financial
organizations
Pearson Correlation 1 .039 -.095
Sig. (2-tailed) .854 .653
N 25 25 25
Q12.Forensic auditor makes
the management responsible
to the shareholder and the
Pearson Correlation .039 1 .245
Sig. (2-tailed) .854 .238

61THE POSITIVE IMPACT OF FORENSIC ACCOUNTING, AUDITING AND
INVESTIGATION ON CORPORATE GOVERNANCE IN THE FINANCIAL SECTOR OF
TRINIDAD AND TOBAGO
other stakeholders in order to
ensure effective corporate
N 25 25 25
Q13.Failure of the internal
auditors lends to corporate
frauds and in many cases
corporate failure and
ineffective corporate
governance
Pearson Correlation -.095 .245 1**
Sig. (2-tailed) .653 .238
N 25 25 25
Correlations
Q14.With the
implication of the
forensic suitor the
management of the
companies are
looked upon to be the
solely accountable for
maintaining sufficient
and effective financial
records
Q15.Forensic auditor
being professionals in
the matters of
financial frauds with
expertise skills with
knowledge in the
legal matters have
assisted in improving
the effective level of
corporate
governance
Q10.The practice of ““forensic
accounting”” aids in mitigating the
financial frauds
Pearson Correlation .152 .444
Sig. (2-tailed) .467 .026
N 25 25
Q11.Forensic auditing assisted in
ensuring that management is more
diligent in carrying out their functions
in an effective manner to ensure
corporate governance in the financial
organizations
Pearson Correlation .199 .133
Sig. (2-tailed) .339 .525
N 25 25
Q12.Forensic auditor makes the Pearson Correlation .278 .210

62THE POSITIVE IMPACT OF FORENSIC ACCOUNTING, AUDITING AND
INVESTIGATION ON CORPORATE GOVERNANCE IN THE FINANCIAL SECTOR OF
TRINIDAD AND TOBAGO
management responsible to the
shareholder and the other
stakeholders in order to ensure
effective corporate governance
Sig. (2-tailed) .178 .314
N 25 25
Q13.Failure of the internal auditors
lends to corporate frauds and in
many cases corporate failure and
ineffective corporate governance
Pearson Correlation .271 .197
Sig. (2-tailed) .190 .345
N 25 25
Correlations
Q14.With the
implication of the
forensic suitor the
management of the
companies are
looked upon to be the
solely accountable for
maintaining sufficient
and effective financial
records
Q15.Forensic auditor
being professionals in
the matters of
financial frauds with
expertise skills with
knowledge in the
legal matters have
assisted in improving
the effective level of
corporate
governance
Q10.The practice of ““forensic
accounting”” aids in mitigating the
financial frauds
Pearson Correlation .152 .444
Sig. (2-tailed) .467 .026
N 25 25
Q11.Forensic auditing assisted in
ensuring that management is more
diligent in carrying out their functions
in an effective manner to ensure
corporate governance in the financial
organizations
Pearson Correlation .199 .133
Sig. (2-tailed) .339 .525
N 25 25
Q12.Forensic auditor makes the
management responsible to the
shareholder and the other
Pearson Correlation .278 .210
Sig. (2-tailed) .178 .314

63THE POSITIVE IMPACT OF FORENSIC ACCOUNTING, AUDITING AND
INVESTIGATION ON CORPORATE GOVERNANCE IN THE FINANCIAL SECTOR OF
TRINIDAD AND TOBAGO
stakeholders in order to ensure
effective corporate governance
N 25 25
Q13.Failure of the internal auditors
lends to corporate frauds and in
many cases corporate failure and
ineffective corporate governance
Pearson Correlation .271 .197
Sig. (2-tailed) .190 .345
N 25 25
Correlations
Q8.Forensic
auditor reduces
the repetition of
the fraudulent
cases in the
finanacial sector
Q9.ForensicAcco
uting can be
helpful in
preventing and
detecting the
frauds in the
financial sector
Q10.The practice
of ““forensic
accounting”” aids
in mitigating the
financial frauds
Q14.With the implication of the
forensic suitor the
management of the companies
are looked upon to be the
solely accountable for
maintaining sufficient and
effective financial records
Pearson Correlation .197 .256 .152
Sig. (2-tailed) .346 .216 .467
N 25 25 25
Q15.Forensic auditor being
professionals in the matters of
financial frauds with expertise
skills with knowledge in the
legal matters have assisted in
improving the effective level of
corporate governance
Pearson Correlation .547 .314 .444
Sig. (2-tailed) .005 .127 .026
N 25 25 25
Correlations

64THE POSITIVE IMPACT OF FORENSIC ACCOUNTING, AUDITING AND
INVESTIGATION ON CORPORATE GOVERNANCE IN THE FINANCIAL SECTOR OF
TRINIDAD AND TOBAGO
Q11.Forensic
auditing assisted
in ensuring that
management is
more diligent in
carrying out their
functions in an
effective manner
to ensure
corporate
governance in the
financial
organizations
Q12.Forensic
auditor makes the
management
responsible to the
shareholder and
the other
stakeholders in
order to ensure
effective
corporate
governance
Q13.Failure of
the internal
auditors lends to
corporate frauds
and in many
cases corporate
failure and
ineffective
corporate
governance
Q14.With the implication of the
forensic suitor the
management of the companies
are looked upon to be the
solely accountable for
maintaining sufficient and
effective financial records
Pearson Correlation .199 .278 .271
Sig. (2-tailed) .339 .178 .190
N 25 25 25
Q15.Forensic auditor being
professionals in the matters of
financial frauds with expertise
skills with knowledge in the
legal matters have assisted in
improving the effective level of
corporate governance
Pearson Correlation .133 .210 .197
Sig. (2-tailed) .525 .314 .345
N 25 25 25
Correlations

65THE POSITIVE IMPACT OF FORENSIC ACCOUNTING, AUDITING AND
INVESTIGATION ON CORPORATE GOVERNANCE IN THE FINANCIAL SECTOR OF
TRINIDAD AND TOBAGO
Q14.With the
implication of the
forensic suitor the
management of the
companies are
looked upon to be the
solely accountable for
maintaining sufficient
and effective financial
records
Q15.Forensic auditor
being professionals in
the matters of
financial frauds with
expertise skills with
knowledge in the
legal matters have
assisted in improving
the effective level of
corporate
governance
Q14.With the implication of the
forensic suitor the management of
the companies are looked upon to be
the solely accountable for
maintaining sufficient and effective
financial records
Pearson Correlation 1 .285
Sig. (2-tailed) .167
N 25 25
Q15.Forensic auditor being
professionals in the matters of
financial frauds with expertise skills
with knowledge in the legal matters
have assisted in improving the
effective level of corporate
governance
Pearson Correlation .285 1
Sig. (2-tailed) .167
N 25 25
By assessing the tables that have been provided in order to have an understanding of the
impact of “forensic accounting”, it is seen that there exists a “positive correlation” among the
variable because of the fact that all the variables have a value that is lower close to 1 and positive
and thereby explaining that “forensic accounting” is helpful in the development of the financial
activities and thereby would be helpful in mitigating the issues that are associated to the financial
frauds. It is seen that by looking at the tables that have been explained, it is seen that all the

66THE POSITIVE IMPACT OF FORENSIC ACCOUNTING, AUDITING AND
INVESTIGATION ON CORPORATE GOVERNANCE IN THE FINANCIAL SECTOR OF
TRINIDAD AND TOBAGO
correlation analysis in relation to all the variables have been observed to be positive and the
values have been very close to 1.
4.4 Regression Analysis
The regression analysis is undertaken in order to understand which of the independent
variables are related and associated with the dependent variables and thereafter assess the forms
of these kinds of relationships. The table below explains the regression analysis for the
concerned paper.
ANOVAa
Model Sum of Squares df Mean Square F Sig.
1
Regression 5.942 1 5.942 14.387 .001b
Residual 9.498 23 .413
Total 15.440 24
Coefficientsa
Model Unstandardized Coefficients Standardized
Coefficients
t Sig.
B Std. Error Beta
1 (Constant) .814 .262 3.109 .005

67THE POSITIVE IMPACT OF FORENSIC ACCOUNTING, AUDITING AND
INVESTIGATION ON CORPORATE GOVERNANCE IN THE FINANCIAL SECTOR OF
TRINIDAD AND TOBAGO
Q15.Forensic auditor being
professionals in the matters
of financial frauds with
expertise skills with
knowledge in the legal
matters have assisted in
improving the effective level
of corporate governance
.492 .130 .620 3.793 .001
The anova table explains that the regression value is 5.942 and the residual value is
9.498. The F-value is 14.387 with a significance level of .001. The regression table has been able
to address the fact that the professional nature of the forensic auditors with the help of their skills
are able to detect frauds and are able to maintain corporate corporate. In this analysis, corporate
governance and detection of frauds have been the dependent variable and therefore the expertise
and skills of the auditors, which is the independent variable have effective level of relationship
with each other.
4.5 Results
The results collected after undertaking the frequency analysis, correlation analysis and
regression analysis have been able to express that “forensic accounting” has a key role to play in
the mitigation of the financial frauds and scams and the correlation analysis addresses the fact
that all the variables that have been chosen in this paper have effective level of relationship with
each other. The regression analysis explains that skills of the auditors is the essential aspect and
is in relation to the mitigation to the frauds and the development of corporate governance. It can
be summarised that “forensic accounting” has been influential for the mitigation of financial
frauds and therefore has a positive effect on the financial sector in Trinidad and Tobago.

68THE POSITIVE IMPACT OF FORENSIC ACCOUNTING, AUDITING AND
INVESTIGATION ON CORPORATE GOVERNANCE IN THE FINANCIAL SECTOR OF
TRINIDAD AND TOBAGO
Chapter 5: Conclusion, Recommendation and Future Work
5.1 Conclusion
This section of the paper provides the final outcome that has been attained for the topic
that has been taken into consideration. It is seen that the authenticity of the research and the
results that have been obtained can be guaranteed once the results are able to satisfy the
objectives that have been constructed in the previous section of the paper. The research
objectives have been constructed based on the background of the paper and the background
provides a history of “forensic accounting” that has been seen in the country and several other
countries and accordingly the financial scams that have been taking place in Trinidad and
Tobago and other countries. The determination of the background has been effective for the
construction of the research questions and objectives. The literature that has been constructed has
been based on the topic and what the other researchers have suggested on this topic related to
“forensic accounting”. The aspects and the areas on which the researchers have stressed have
been influential for the development of the current research paper. The methodology of the paper
has stressed on the kind of data that is ideal for this paper with the help of which actualdegree of
data evaluation can be undertaken. In this manner, quantitative data analysis has been chosen by
the researcher and accordingly the primary data has been collected with the help of the 25
respondents who have been selected from the geographic location of Trinidad and Tobago and
the ones who are aware about ““forensic accounting”” and are associated with the financial
sector and their activities. This data has been helpful in the determination of the data analysis
process and accordingly the results in association to the paper has been collected. The section
below would make a comparison of the results that have been obtained with the research
objectives.

69THE POSITIVE IMPACT OF FORENSIC ACCOUNTING, AUDITING AND
INVESTIGATION ON CORPORATE GOVERNANCE IN THE FINANCIAL SECTOR OF
TRINIDAD AND TOBAGO
5.2 Addressing the research objectives
Objective 1: To determine whether “forensic accounting” is an efficient technique and tool for
explaining the financial frauds in the financial sector in Trinidad and Tobago
This objective is constructed in order to have a proper understanding of “forensic
accounting”, which can be used as an active tool for explaining and defining the financial scams
in the financial sector in Trinidad and Tobago. The results that have been obtained explains that
“forensic accounting” is one of the key tools with the help of which the scams and the frauds
that are taking place in the financial sector can be discovered in an effective manner and
accordingly the steps can be taken with the help of which the forensic auditors can mitigate these
issues. The results have even indicated that “forensic accounting” is extensively used in the
development of the financial sector. The auditors practice this kind of accounting in order to
highlight the issues in the financial sector and accordingly take actions and steps to enhance this
sector. Hence, the result that has been attained explains that this objective has been explained in
an effective manner.
Objective 2: To assess the essentiality of forensic audit in guaranteeing corporate governance
in the financial sector of the country.
Corporate governance has been looked upon to be one of the essential factors that can
enhance the development of the business. It is seen that forensic audit is looked upon to be a key
segment of the accounting process and the skills and the expertise of the auditors have avital role
to play in the progress of the financial sector and accordingly can have a key impact on the
corporate governance of the organizations. The knowledge of the auditors and the practices that
have been used has been effective enough in the development of a better financial sector and

70THE POSITIVE IMPACT OF FORENSIC ACCOUNTING, AUDITING AND
INVESTIGATION ON CORPORATE GOVERNANCE IN THE FINANCIAL SECTOR OF
TRINIDAD AND TOBAGO
corporate governance structure that would lead to a better and safer financial sector with lesser
number of scams.
The explanation of the two objectives determines the fact that there has been a significant
amount of positive impact of “forensic accounting” in the mitigation of the financial frauds and
the maintenance of an effective corporate governance structure.
5.3 Recommendations
The results that have been collected from the analysis can helpful in giving out
recommendations with the help of which the better performances can be derived in the process of
“forensic accounting” in Trinidad and Tobago.
One of the most essential recommendation that can be given out from this paper is that
the financial sector needs to be assessed and monitored on a frequent basis with the help of
which the scams and the frauds that are seen in this sector can be identified effectively and
thereby actions can be taken in order to alleviate the same.
It is even suggested that the auditors make use of the innovative and tools and
technologies that are introduced in the market so that better quality of services can be given out
to their clients. The use of modernized tools can be effective enough in the development of better
results and thereby the extent of frauds in this sector can be minimized.
It is even recommended that the auditors should update themselves with the changing
market environment and accordingly can take steps and actions in order to mitigate the level of
financial frauds. Effective level of training needs to be given to the auditors from time to time

71THE POSITIVE IMPACT OF FORENSIC ACCOUNTING, AUDITING AND
INVESTIGATION ON CORPORATE GOVERNANCE IN THE FINANCIAL SECTOR OF
TRINIDAD AND TOBAGO
thereby maintaining their level of efficiency and thereby provide the services that are demanded
in the market from the financial industries.
The incorporation of these services can be helpful in the mitigation of the issues that are
currently existent and thereby make “forensic accounting” a much tool for the mitigation of the
financial scams and development of corporate governance.
5.4 Future Work
This topic has extensive scope for future work due to the fact that with the development
of the new technologies there can be a development newer and better processes with the help of
which financial scams and the frauds can take place. Therefore, further researches on this topic
can be undertaken and anassessment with the present paper can be undertaken in order to have an
understanding of the alterations that have undertaken in the financial sector with frauds and how
“forensic accounting” can be helpful for the development of the sector and corporate governance.

72THE POSITIVE IMPACT OF FORENSIC ACCOUNTING, AUDITING AND
INVESTIGATION ON CORPORATE GOVERNANCE IN THE FINANCIAL SECTOR OF
TRINIDAD AND TOBAGO
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83THE POSITIVE IMPACT OF FORENSIC ACCOUNTING, AUDITING AND
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Appendix
Questionnaire
Q1. Gender
Male
Female
Q2. Age group
18-24 years
25-34 years
35-44 years
45-54 years
55 years and above
Q3. Educational status
Secondary
Bachelor’s Degree

84THE POSITIVE IMPACT OF FORENSIC ACCOUNTING, AUDITING AND
INVESTIGATION ON CORPORATE GOVERNANCE IN THE FINANCIAL SECTOR OF
TRINIDAD AND TOBAGO
Master’s Degree
Doctorate
Q4. Position in the organization
Management
Middle level staff
Junior staff
Q5. Years of experience
1-2 years
3-4 years
5-6 years
7-8 years
8 years and above
Q6. The forensic auditor has the capability of fighting fraudulent activities and ensures the sanity
in the corporate company
Strongly Disagree

85THE POSITIVE IMPACT OF FORENSIC ACCOUNTING, AUDITING AND
INVESTIGATION ON CORPORATE GOVERNANCE IN THE FINANCIAL SECTOR OF
TRINIDAD AND TOBAGO
Disagree
Neutral
Agree
Strongly Agree
Q7. Forensic auditor who are skilled in the detection of fraud, specifically for successful criminal
prosecution and are able work in difficult regulatory and litigation atmosphere
Strongly Disagree
Disagree
Neutral
Agree
Strongly Agree
Q8. Forensic auditor support reduces the repetition of the fraudulent cases in the financial sector
Strongly Disagree
Disagree
Neutral
Agree
Strongly Agree

86THE POSITIVE IMPACT OF FORENSIC ACCOUNTING, AUDITING AND
INVESTIGATION ON CORPORATE GOVERNANCE IN THE FINANCIAL SECTOR OF
TRINIDAD AND TOBAGO
Q9. ““forensic accounting”” can be helpful in preventing and detecting the frauds in the financial
sector
Strongly Disagree
Disagree
Neutral
Agree
Strongly Agree
Q10. The practice of ““forensic accounting”” aids in mitigating the financial frauds
Strongly Disagree
Disagree
Neutral
Agree
Strongly Agree
Q11. Forensic auditing assisted in ensuring that management is more diligent in carrying out
their functions in an effective manner to ensure corporate governance in the financial
organizations
Strongly Disagree
Disagree

87THE POSITIVE IMPACT OF FORENSIC ACCOUNTING, AUDITING AND
INVESTIGATION ON CORPORATE GOVERNANCE IN THE FINANCIAL SECTOR OF
TRINIDAD AND TOBAGO
Neutral
Agree
Strongly Agree
Q12. Forensic auditor makes the management responsible to the shareholders and the other
stakeholders in order to ensure effective corporate governance
Strongly Disagree
Disagree
Neutral
Agree
Strongly Agree
Q13. Failure of the internal auditors leads to corporate frauds and in most cases corporate failure
and ineffective corporate governance
Strongly Disagree
Disagree
Neutral
Agree
Strongly Agree

88THE POSITIVE IMPACT OF FORENSIC ACCOUNTING, AUDITING AND
INVESTIGATION ON CORPORATE GOVERNANCE IN THE FINANCIAL SECTOR OF
TRINIDAD AND TOBAGO
Q14. With the implication of the forensic suitor, the management of the companies are looked
upon to be the solely accountable for maintaining sufficient and effective financial records
Strongly Disagree
Disagree
Neutral
Agree
Strongly Agree
Q15. Forensic auditor being professionals in the matters of financial frauds with expertise skills
with knowledge in the legal matters have assisted in improving the effective level of corporate
governance
Strongly Disagree
Disagree
Neutral
Agree
Strongly Agree