How Important Are Forensic Accounting and Auditing in Today’s Financial World?

I’ve been reading about forensic accounting and auditing and how they play a major role in detecting fraud and financial irregularities. With the rise of complex financial transactions and digital payments, it seems like these practices are more important than ever. 

I’m curious about how businesses, especially small and medium enterprises, can benefit from forensic accounting techniques. Are these services only useful after fraud occurs, or can they also help in prevention? I’d love to hear real experiences or insights on their effectiveness and practical applications in today’s business environment.