Corporate Governance, Transparency, and Shareholder Rights: The Role of the Forensic Accountant in Propelling Economic Growth

The goal of realigning organizational activities with the interest of shareholders and regulatory authorities has made the prevention of weaknesses in the three key areas of corporate governance, internal controls, and financial statements very crucial. Scandals in the corporate accounting world and the resultant need for transparency and honesty in reporting have made needful the engagement of forensic accounting skills in untangling complicated accounting maneuvers and entrenching good corporate leadership. This paper shows the role played by forensic accountants in responsibly addressing the concerns of investors about the financial reporting system, so as to protect shareholder rights. It discusses the current corporate governance framework in Nigeria, the country’s forensic accounting related efforts and submits that in today’s rapidly changing business landscape, it is important for accountants and companies to step away from the traditional approach that emphasized mere compliance with rules, and focus on the study and investigation of the traits underlying corporate behavior and management. It recommends a very extensive engagement of the forensic accountant as a key component in the corporate governance system in order to engender economic growth