What is the role of corporate governance in preventing financial crimes/fraud?

Abstract:
Corporate governance is vital in preventing fraud within organisations by overseeing and maintaining the reliability and accuracy of financial reporting. This is ensured by clear roles and responsibilities on the team, segregation of duties, and tight internal controls that can stand up to testing to ensure reliable financial statements.

It is all about open and adequate flow of information between the audit committee and the external auditors – accountability, transparency, fairness and responsibility.

A firm with strong corporate governance practices has a low probability of financial distress compared to a weak corporate governance firm which includes fraud, misappropriation, material errors, regulatory penalties, poor decision making and reduced stakeholder confidence.

Artificial Intelligence (AI) and Machine learning (ML)-Big Data Applications for Fraud Detection

Abstract:
"Corruption and abuse are, unrelentingly and constantly evolving. It’s a different world there. And fraud analytics can help to make sense of it” Deloitte. The volume of generated data had reached zettabytes and is predicted to reach yottabytes by 2025. Forensic Auditors and Forensic Accountants, it’s now a world of data-fields.