Forensic Audit

Forensic Audit-Thorough View

CA, CS, CMA - FORENSIC AUDIT – MEANING The term ‘forensic audit’ has not been defined under any statue, therefore for the meaning of the same reliance has been placed on dictionary meaning. In general, Forensic Audit represents an area of finance that combines detective skills and financial acuity. Forensic audit also known as forensic accounting...

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Forensic Review in Insolvency and Bankruptcy Code 2016

CA, CS, CMA - Transactions specifically related to Sections 43 to 46 and Section 66 of the Insolvency and Bankruptcy Code, 2016 are being looked at by the forensic experts. These sections deal with identifying preferential and undervalued transactions, and those deliberately entered into to defraud creditors. These sections also deal with identifying u...

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Forensic review of specific transactions under IBC 2016

CA, CS, CMA - Indian bankruptcy Code 2016 is set to be a game changer providing an efficient framework to deal with business failures.  The Code deals with insolvency and liquidation proceedings in a time bound and efficient manner in order to maximize best possible value of stress assets. Sections 43 to 51 and Section 66 of the Code […]...

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Forensic Audit: Field to Explore by Chartered Accountants

CA, CS, CMA - Forensic Audit: Field to Explore Growing cyber crimes, failure of regulators to track the security scams, series of co-operative banks bursting – all are pinpointing the need of forensic accounting, irrespective of whether we understand the need or not. Forensic accounting seeks to uncover the what, why and how behind the computatio...

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Forensic Auditing: Much required tool in current era of Frauds

CA, CS, CMA - The article briefly explains the concept of Forensic Auditing and the use of the technique in the detection of the frauds. The relevance of the concept has been highlighted -especially in the emerging scenario of continuous development in the fields of accounting and auditing. The article also touches upon the various  inter-related conc...

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ICAI to Issue Forensic Accounting & Investigation Standards

CA, CS, CMA - With an increasing number of Accounting, Financial and Loan irregularities, there is a pressing need of Forensic Accounting and Investigation professionals in India to conduct their professional assignments in a manner which is based on the comprehensive, qualitative and prudent set of Standards, and also to collect evidences which may be...

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Empanelment of CA Firms as forensic auditors with SEBI

CA, CS, CMA - SEBI invites applications of eligible CA firms / companies for empanelment to take up assignments relating to forensic audit of financial statements of listed companies....

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In last 70 years role of CA shifted from backroom to boardroom: ICAI President

CA, CS, CMA - Our history bears the testimony that we have resolutely upheld the societal trust and importance. As such, today’s CA is no longer being seen as just a statistician but a versatile strategist and value-creator who is ‘must-have’ resource of modern day business. The Indian CA has metamorphosed from traditional accounts keeper to a tr...

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Empanelment of Forensic Auditors with Indian Overseas Bank

CA, CS, CMA - The Chartered Accountant firms doing the concurrent audit of branches may apply for empanelment as forensic auditors. All other terms and conditions will remain unaltered. The last date for submission of application is extended upto 10.07.2018....

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Internship Programme at Serious Fraud Investigation Office (SFIO)

CA, CS, CMA - As you are aware, you to our organisation Serious Fraud Investigation Office (SF10) is a multi-disciplinary organization under the Ministry of Corporate Affairs, Government of India, manned by experts in the fields of accountancy, forensic audit, general law, information technology, investigation, company law, capital market, Income Tax a...

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RBI – Findings of Forensic Scrutiny – Guidelines for prevention of frauds

RBI/2010-11/555 DBS. CO.FrMC.BC.No. 10/23.04.001/2010-11 - (31/05/2011) - DBS. CO.FrMC.BC.No. 10/23.04.001/2010-11 - Based on the findings of the scrutinies, further study has been made across banks to ascertain the policy and operating framework in place for detection, reporting and monitoring of frauds as also the surveillance/ oversight process in operation so as to pr...

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Recent Posts in "Forensic Audit"

Forensic Audit-Thorough View

FORENSIC AUDIT – MEANING The term ‘forensic audit’ has not been defined under any statue, therefore for the meaning of the same reliance has been placed on dictionary meaning. In general, Forensic Audit represents an area of finance that combines detective skills and financial acuity. Forensic audit also known as forensic accounting...

Read More
Posted Under: Fema / RBI |

ICAI to Issue Forensic Accounting & Investigation Standards

With an increasing number of Accounting, Financial and Loan irregularities, there is a pressing need of Forensic Accounting and Investigation professionals in India to conduct their professional assignments in a manner which is based on the comprehensive, qualitative and prudent set of Standards, and also to collect evidences which may be...

Read More
Posted Under: Fema / RBI |

Forensic Review in Insolvency and Bankruptcy Code 2016

Transactions specifically related to Sections 43 to 46 and Section 66 of the Insolvency and Bankruptcy Code, 2016 are being looked at by the forensic experts. These sections deal with identifying preferential and undervalued transactions, and those deliberately entered into to defraud creditors. These sections also deal with identifying u...

Read More
Posted Under: Fema / RBI |

Forensic review of specific transactions under IBC 2016

Indian bankruptcy Code 2016 is set to be a game changer providing an efficient framework to deal with business failures.  The Code deals with insolvency and liquidation proceedings in a time bound and efficient manner in order to maximize best possible value of stress assets. Sections 43 to 51 and Section 66 of the Code […]...

Read More
Posted Under: Fema / RBI |

Forensic Audit: Field to Explore by Chartered Accountants

Forensic Audit: Field to Explore Growing cyber crimes, failure of regulators to track the security scams, series of co-operative banks bursting – all are pinpointing the need of forensic accounting, irrespective of whether we understand the need or not. Forensic accounting seeks to uncover the what, why and how behind the computatio...

Read More
Posted Under: Fema / RBI |

Forensic Auditing: Much required tool in current era of Frauds

The article briefly explains the concept of Forensic Auditing and the use of the technique in the detection of the frauds. The relevance of the concept has been highlighted -especially in the emerging scenario of continuous development in the fields of accounting and auditing. The article also touches upon the various  inter-related conc...

Read More
Posted Under: Fema / RBI |

Need of Forensic Audit under RERA

The unregulated real estate sector came to be regulated by The Real Estate (Regulation And Development) Act, 2016 (RERA). RERA enacted for regulation and promotion of the real estate sector. Further, to ensure sale of plot, apartment or building, as the case may be, or sale of real estate project, in an efficient and transparent […...

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Posted Under: Fema / RBI |

Forensic Audit: Field to Explore

Everyone reading this article would have obviously heard of Forensic Audit. And there is nothing surprising to that, as this word ‘Forensic Audit’ has become so familiar now these days, and special credit for this goes to Mr.Nirav Modi and Mr.Vijay Mallya and a huge pile of NPA’s build up by our state-owned banks. 1. [&h...

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Posted Under: Fema / RBI |

Pressure MEETING TARGETS potentially converting into FRAUDs – Forensic Study

Every business list down its strategy to move forward and for that it gears up its executives by providing them some agreed targets which eventually become their performance indicators and based on these targets, these executives would further drill down the same to ensure these TARGETS are actually achieved. There are number of reported/...

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Posted Under: Fema / RBI |

GHOST EMPLOYEES – Forensic into payroll

Now a day’s accounting frauds are on rise to be reported related to Payroll in which a FRAUDSTER manages to create some employees master file which actually do not exists and manage to take away their all benefits by way of FRAUD....

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Posted Under: Fema / RBI |

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