The importance of forensic auditing in Lebanon

Abstract

After decades entrenched in corruption, it was time to try and put a halt to it. After the request and withdraw of the consulting Firm, Alvarez and Marsal, to Lebanon, many questions have been raised by the people, most politically related NGOs and some political parties wondering what actually did happen to push the Firm to stop the forensic audit in Lebanon. The aim of this research paper is to shed the light that forensic audit has a crucial role in helping Lebanon from sunken disaster. The only way to rebuild the country is by raising awareness on the degree of corruption Lebanese live in so that everyone understands the gravity of the issue. The research being conducted will help better understand the withdrawal of the Alvarez and Marsal firm investigation, by answering, why many political parties were against exposing those accountable for corrupted operations while engaging in a forensic audit investigation? And why the consulting firm Alvarez and Marsal decided to withdraw from Lebanon? Thus, we Hypothesize that, despite the need for the forensic audit many parties are trying to sabotage it for many reasons. In addition, the corruption in Lebanon has developed into a nonreversible way which would possibly make the firm to leave the country. Most Lebanese parties were not willing to cooperate in the investigation Which also led to the withdraw. Many corrupted organizations around the world found their way out of depts and were capable to rebuild their organization through the forensic audit holding the dishonest accountable. In order to conduct the research a case study on the Lebanese Central Bank (BDL) will be piloted.