We help businesses understand the risks they are exposed to along with providing effective solutions to address them.
Addressing financial frauds in an efficient and timely manner is cost-effective and less damaging for businesses.
Forensic Audit is a unique combination of accounting practices and investigative strategies which helps to unearth the financial frauds or malpractices prevalent in a business set-up.
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Gathering forensic intelligence about an individual or an entity which can help our clients make informed decisions while safeguarding their interests and mitigating risk and losses.
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Fraud Investigation involves the collection of relevant facts which can act as admissible evidence in a court of law.
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A through assessment of the root cause of fraudulent activity, decoding the modus operandi and quantifying the damages caused along with identifying the perpetrator.
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The vulnerability of an organization to external as well as internal frauds exposes it to multiple risks. An effective Fraud Risk Management program helps to keep abreast with the latest compliances and governing regulations.
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Founder
RAAGHAVI SENTHIL INTERVIEWS DEVAKI NAIK | December 09,2018 Raaghavi Senthil…
a) To assess risk to your business.
b) To promote ethical business practices .
c) To minimize loss from fraudulent acts.
A forensic accountant brings in the required knowledge and relevant skill sets for tackling a financial fraud which include:
a) Knowledge of admissible evidence
b) Ability to work closely with Lawyers and Police
c) Compilation of evidence and data in a systematic, concise and presentable manner
An auditor often follows the Generally Accepted Auditing Principles (GAAP), whereas a Forensic Accountant has to think out of the box to investigate financial frauds – as each case may have a different modus operandi.
While the primary responsibility of an Auditor is to comment on the “truth and fair value” of the accounting and business practices carried out by an organization, the forensic accountant is responsible for establishing facts and gathering evidence of misappropriation or fraud and quantify the losses along with identifying the perpetrator.
The term ‘forensic” refers to any piece of information that can be presented as an evidence in a court of law. A forensic Audit Report often acts as a crucial evidence for establishing fraudulent intent and quantifying the losses arising out of a white-collar crime.
Forensic Accountants may also be involved in alternate dispute resolution (ADR) due to their legal awareness and familiarity with the workings of the judicial system. The opinions and testimonies of forensic accountants are often sought in courts of law and other mediations.