Purpose: With this study, the authors aim to design a measure to determine the effectiveness of h... more Purpose: With this study, the authors aim to design a measure to determine the effectiveness of having Forensic Auditors in the Insurance Business. Moreover, in doing this to determine whether this measure is affected by different demographic variables. Design/Methodology: To prove the effectiveness of forensic auditors in the insurance industry, the authors designed a questionnaire using criteria of effectiveness established by Bond et al. (2011) which was completed by 402 valid participants. The criteria revolved around having procedural, substantive, transactive and normative effectiveness. Findings: Results show that engaging forensic auditors in the insurance industry are effective. Forensic auditors are needed in the claims process of insurance firms, and possibly, they should further be engaged in the risk management team of an insurance company. However, with regards to determining the compensation amount, respondents showed a lack of trust, and prefer if forensic auditors w...
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Papers by Yanika Caruana