A Study On Role Of Forensic Accounting And Auditing

Kulsoom Lateef

Abstract


This article deals with Forensic accounting and auditing. Forensic accounting is very important tool to detect, investigate and prevent the frauds .Whether it is stock market fraud or bank fraud or cyber fraud; forensic accounting has become an indispensable tool for investigation. With India being ranked as the 88th most corrupt nation, the needs for forensic accountants become all the more profound. The utilization of specialized investigative skills in carrying out an inquiry conducted in such a manner that the outcome will have application to a court of law.  A Forensic Investigation may be grounded in accounting, medicine, engineering or some other discipline. An examination of evidence regarding an assertion to determine its correspondence to establish criteria carried out in a manner suitable to the court.  An example would be a Forensic Audit of sales records to determine the quantum of rent owing under a lease agreement, which is the subject of litigation.


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