Purview and Conduct of Forensic Accounting an...

Purview and Conduct of Forensic Accounting and Auditing In India

Author Name : Shalini Lakkapla

ABSTRACT

with the intention to make profit, the present businessmen are forgetting about their honesty, Reliableness and transparency in their business activities towards others. This the action of earning more profit encouraging them to choose a way of frauds and scams. This result to drastically increase in economic crimes and financial white-collar scams. So, this rapid increase of frauds gives a birth and scope to forensic accounting and auditing in India. The present study is conducted to discusses about the concepts like overview and scope of forensic accounting in India, the qualified person to conduct a forensic audit, procedural matters and process of conducting and carrying out a forensic auditing in India. The study also discussed about a term of differences between forensic accounting and auditing. The study is a theoretical analysis of the role of forensic auditor as watchdog who may keep an eye on the financial operations of the business so as to reduce the conduct of financial frauds in business activities. This research paper highlights the role of forensic auditor and purview of forensic auditing in India. The paper also suggests that, the conduct of forensic accounting and auditing in corporate sector is much important in India to overcome and to avoid a misleading financial transaction and to catch a fraudster.

KEY WORDS: Forensic Accounting, Forensic Auditing, Overview, Purview, Forensic Accountant, Forensic Auditor, Investigation, Forensic Accounting Process.