Formation of Forensic Audit in the Experience of the USA and Great Britain
Hasanali Aliyev
Abstract. The article examines the formation, institutional development and practical features of forensic auditing through the experience of the United States and Great Britain. The purpose of the study is to explain, from a comparative perspective, how forensic auditing functions in detecting financial fraud, corporate misconduct, embezzlement and other economic crimes. In the United States, the development of forensic auditing became more systematic after major corporate scandals, the weakening of confidence in financial reporting and the adoption of the Sarbanes-Oxley Act. This model places strong emphasis on internal control, early risk identification, data analytics and the use of technology-based audit tools. In Great Britain, forensic auditing developed more closely in connection with the common law system, court proceedings, expert opinions and the legal reliability of evidence. The activity of institutions such as the Serious Fraud Office, the Financial Reporting Council and the National Crime Agency has strengthened the institutional basis of this field. The comparison shows that the American model is more preventive and technology-oriented, while the British model is mainly based on legal evidence and court-oriented expert examination. Therefore, both experiences demonstrate the strategic importance of forensic auditing for modern financial control, corporate transparency and public trust.
Keywords: forensic audit, financial fraud, corporate governance, internal control, legal evidence, United States experience, Great Britain experience