Why Forensic Audit Was Initiated at IndusInd Bank?
Concerns raised over specific derivative transactions have placed IndusInd Bank, the leading private sector lender in India, under regulatory scrutiny. It is claimed that the Reserve Bank of India (RBI) has called for a forensic audit focused on the bank’s operations concerning the design, disclosure, and risk management of the derivatives. While the bank has […]
The Use of Data Analytics in Forensic Accounting Investigations
In recent years, the area of forensic accounting has evolved rapidly, partly as a result of technological improvements. The use of data analytics in forensic accounting investigations is one of the most significant technological developments that has touched the discipline. Analysing huge and complicated data sets for hidden patterns, trends, and insights is known as […]
What Are the Benefits of Forensic Accounting?
Forensic accounting is the application of accounting, auditing, and investigative skills to collect, analyze, and interpret financial information for use in legal proceedings. Forensic accounting studies financial records to identify illegal or unethical behaviour. It is applied to uncover financial fraud. Generally, forensic accountants can testify as expert witnesses on accounting issues such as valuations, […]
The Importance of Forensic Accounting for an Organisation
Fraud and corruption have been the biggest challenge in the finance world. Forensic accounting helps uncover cases of financial fraud and irregularities. Forensic accounting is a subset of business accounting. Like business accounting, forensic accounting involves the examination of business records to understand and support the validity of financial statements. So, in this post, we […]
Why forensic accountants are in high demand?
The practice of forensic accounting involves the analysis of accounting information that has been generated by or obtained from the entity under investigation. Forensic accounting uses a wide range of information and tools to uncover details that are not typically available to a general accountant or accountant. Forensic accounting and its benefits are investigated into […]