The Role of Judicial Review in Reducing Innovative Accounting Practices in Business Organizations - A Field Study

In recent years, there have been strong directions in the fight against administrative and financial corruption, especially after successive economic developments. Administrative and financial corruption hasstrongly led to collapse of many large companies around the world. The main reason for the recent global financial crisis was weak of accounting and auditing mechanisms in discovering issues of administrative and financial corruption. So, It was necessary to have a judicial review to solving financial disputes in a legal framework, which is considered an accounting and professional service looking beyond the numbers to help in detecting the cases of fraud in financial statements and fighting corruption in business organizations. There are many creative or innovative accounting procedures that can be misused by some accounttants which intend to make misleading financial statements and lose its objectivity and credibility.Therefore, judicial review has an important and effective role in improving the quality of auditing financial statements. It has recently received increased attention due to the need of audit and accounting institutions for these types of review to detect the cases of cheating and fraud in the financial statements and thus fulfill their responsibilities towards the third party, as well as the need of stakeholders for it to protect their rights within the organization. The researcher believes that there is a responsibility to the judicial review and there is an effective role for the judicial review systems in the detection of fraud, manipulation and distortions resulting from practices that exist under many names including innovative, fraudulent and creative through which profits are managed. Therefore, judicial review has a concrete and effective role that affects positively in reducing this fraudulent  practices and detect and eliminate t hem.