Your question: What is forensic audit?

What do forensic auditors do?

Forensic auditors are investigators of legal and financial documents that are hired to look into possible suspicions of fraudulent activity within a company; or are hired by a company who may just want to prevent fraudulent activities from occurring.

What is a forensic audit in business?

Forensic auditing is the application of traditional auditing procedures and techniques in order to gather evidence as part of the forensic investigation.

Why is forensic audit important?

Forensic audit investigations are important as they help uncover the modus operandi of corporate misdoings such as embezzlement, bribes, extortion, fictitious transactions, kickbacks and conflict of interest. They can also help locate or identify potential fraud.

How do you become a forensic auditor?

Forensic accounting courses are usually offered in the master’s degree level. In order to be a Certified Forensic Accountant in India you must be a Graduate from a recognized University. Besides, you should have a professional experience of at-least three years and clear the CFAP examination with at least 75% marks.

What is another name for a forensic audit?

Forensic auditing is also known as forensic accounting. A forensic auditor is a Certified Public Accountant (CPA) who uses special techniques to detect or prevent certain types of crime for businesses and government agencies.

Who can conduct forensic audit in India?

Any candidate who is a graduate and have at least one year of experience in the Nationalised Banks, Private sector banks, Co-operative banks or non-banking finance company, credit card company or a financial institution can apply for the examination of Certified Banking Forensic Accountant.

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