Fraud activities in the business industry aren’t something new ,they have been happening for a long time, and they have been changing and developing just like everything else (Hunt, Stefan,1997), in both reasons and methods, neither forensic accounting is not a new profession, however due to the changes and development of fraud, Forensic Accounting was reborn with a new meaning, new motives and new methods (Mary-Jo Kranacher, Bonnie W. Morris, Timothy A. Pearson, and Richard A. Riley, Jr.,2008 ).
Fraud acts, as well as fraud prevention are always on update and change and in order to face such damages, Forensic Accounting has played a major role in the improvement of detection, investigation, and representation of all the cases at hand in law courts in judicial formalities; as well as a major role in the prevention of similar possible acts in the future (Martin, Josh, 1998).
Forensic Accounting has a major effect on this contemporary world’s systems with the aid of fraud examination and is shaking the grounds of Fraud activities and changing both its occurrence frequencies, and detection counts, hence; giving us another weapon to face such activities with to solve and avoid them (Timothy A. Pearson and Tommie W. Singleton, 2008).
The recognition of Forensic Accounting can also save the country the trouble of depending on foreign help for research and detection of fraud and its resolution. If the country did not fix and improve its systems to the required level such that of what Forensic Accounting teaches, we will always end up with hundreds of similar scandals such that of Enron and WorldCom .
The concept of forensic accounting is new in Lebanon, knowing that Lebanon needs such approach, as the fraudulent acts are increasing especially with the hard economic situation that Lebanon is suffering.
According to The Lebanese Transparency Association (LTA), the corruption has always existed in Lebanon, and its effects were magnified in 1990 after the end of the fifteen-year civil war.