Impact of Emerging Technologies on Forensic Accounting Investigations

Submission for the FinTAF Conference 2024

Abstract

This study investigates the impact of emerging technologies on forensic accounting investigations, focusing on the challenges and opportunities associated with their integration. The rapid advancement of technology has transformed financial crime detection and prevention, necessitating the adoption of advanced data analysis tools in forensic accounting. The research employs a quantitative approach, grounded in pragmatic philosophy, to assess how these technologies influence the effectiveness and efficiency of forensic accounting practices. Data were collected through a survey distributed to forensic accountants and professionals in related fields via Qualtrics, with ReCAPTCHA ensuring the authenticity of responses. The findings highlight the significant role that emerging technologies play in enhancing the accuracy, speed, and depth of forensic investigations. However, challenges such as the complexity of analysing digital evidence and the increased cost and time associated with these tools were also identified. The study concludes that while data analytical tools improve the ability to detect and prevent financial fraud, further research is needed to optimize their implementation and address the evolving techniques used by fraudsters. These findings provide valuable insights for practitioners and policymakers, guiding the development of best practices for integrating technology into forensic accounting investigations.