Integrating corporate governance and forensic accounting: A sustainable corporate strategy against fraud

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Abstract

In the realm of financial oversight and corporate management, forensic accounting (FA) holds a critical position, serving as a central control mechanism and being widely recognized as an essential component of corporate governance. FA plays a crucial role as a central control mechanism and is acknowledged as a pivotal element of corporate governance. Consequently, it needs to continuously adapt in response to shifts in corporate governance practices, while the role of internal auditors transforms to actively support corporate sustainability. The aim of this research is to assess the effectiveness of FA and explore its relationship with corporate governance, based on the relevant literature. Thus, the main objectives of the present study are to identify the internal control attributes that influence the quality of its performance and to evaluate how corporate governance contributes to enhancing the quality of FA. To achieve the aim and the objectives of the paper, a literature analysis was carried out. The main contribution of the present paper is to refresh the existing body of knowledge on contemporary FA and its interplay with corporate governance.

Keywords: Forensic Accounting, Corporate Governance, Internal Control, Corporate Sustainability, Quality Assessment, Internal Auditors, Literature Update

Authors’ individual contribution: Conceptualization — A.X., M.S., P.K., and P.A.; Methodology — A.X. and P.K.; Resources — A.X. and P.A.; Writing — Original Draft — A.X. and M.S.; Writing — Review & Editing — A.X., M.S., P.K., and P.A.; Visualization — A.X. and M.S.; Supervision — P.K.; Project Administration — P.K. and P.A.

Declaration of conflicting interests: The Authors declare that there is no conflict of interest.

JEL Classification: G30, G34, M41, M42

Received: 31.07.2023
Accepted: 31.05.2024
Published online: 04.06.2024

How to cite this paper: Xanthopoulou, A., Skordoulis, M., Kalantonis, P., & Arsenos, P. (2024). Integrating corporate governance and forensic accounting: A sustainable corporate strategy against fraud [Special issue]. Journal of Governance & Regulation, 13(2), 327–338. https://doi.org/10.22495/jgrv13i2siart9