Forensic accounting as an investigative tool: insights from the FTX and Qatargate

This paper examines the critical role of forensic accounting in investigating cross-border white-collar and state-organised crimes, focusing on case studies of the FTX collapse and the Qatargate scandal. Utilising a qualitative approach guided by the interpretivist paradigm, secondary data from scientific publications, case studies, business journals, and organisational guidelines were analysed. The study identifies significant challenges forensic accountants face, including regulatory inconsistencies and international cooperation barriers. Findings suggest that enhanced international collaboration, the application of advanced forensic techniques, and ethical leadership are essential in detecting such crimes and preventing systemic failures. The study introduces the "Velvet Claw Tactics" framework, which provides insights into these crimes and underscores the role of forensic accountants in understanding and combating them. Recommendations include strengthening global forensic accounting practices and developing a unified international framework to address these crimes effectively. The research contributes to both theoretical and practical advancements in forensic accounting and international cooperation.