Forensic Accounting and Prevention of Financial Crimes- Bangladesh perspective

Abstract

This study is about whether forensic accounting can be useful to prevent financial mistreatments, frauds and criminal acts before they occur. Aim of the study is to find a way to prevent financial crimes to help the booming economy of Bangladesh reach even higher ground. Since, most of the time, the lost financial assets never recover. As a result, businesses suffer then consequently the economy as a whole suffers. Opinions were taken from professional accountants, auditors, toplevel corporates and scholars of relevant field to test hypothesis and variables. Only primary data was used in this study. End of the study, the finding is that forensic accounting can be helpful to prevent financial mishaps to a significant level. However, it does not guarantee prevention a hundred per cent of the time. Therefore, the recommendation is the creation of new regulations to make forensic accountant mandatory in large corporations as well as financing institutions. Because as of the current scenario, these large corporations and financing institutions are most vulnerable.