CA, CS, CMA - The authors here have tried to make an attempt to reach out to the fellow Seniors, members, students, etc. that in this age of digital age of AI, technology and (mis) information, FRAUDS are quite often form integral part of any financials....
CA, CS, CMA - An application was moved by one of the secured financial creditor in the matter Motel Rahans Pvt. Ltd. Vs JSM Devcons Pvt Ltd. before the Hon’ble NCLT Indore Bench in C.P.(IB)/56(MP) 2021 who precipitate precept certain irregularities/transactions qua the assets of the Corporate Debtor. The Applicant sought the appointment of an indepen...
CA, CS, CMA - Whether approval of Committee of Creditor is necessary for appointment of Transaction/Forensic Auditor? Under Section 18 of Insolvency and Bankruptcy Code, 2016 (‘IBC’), the Insolvency Professional is required to review the Assets and Liabilities of the Corporate Debtors. The Insolvency Professional shall collect all information relat...
CA, CS, CMA - This report summarizes our procedures, findings, and recommendations as it relates to our assistance with the evaluation of bookkeeping, records and internal control irregularities at Company in determining the fraud risk and the amount involved therein....
CA, CS, CMA - Forensic auditing of business accounts is a specialized process that can be done to detect any irregularities or potential fraud. It goes beyond the scope of traditional auditing and requires specialized skills and experience. As such, organizations large and small should consider engaging forensic accountants to assist with such tasks. I...
CA, CS, CMA - Guidance Note For Forensic Accounting And Investigation Standard No. 000 On Over Arching Documents provides technical clarifications and implementation guidance for the ‘Over Arching Documents’. This Guidance Note (GN) outlines the manner in which the Professional can implement the requirements of the three Over Arching Docume...
CA, CS, CMA - The Forensic Accounting and Investigation Standard (FAIS) 420 on Evidence Gathering in Digital Domain provides guidance to the Professional for the gathering of electronic evidence in the Digital Domain, or DD for short (as defined in the Standard), ensuring that it satisfies the requirements of judicial scrutiny...
CA, CS, CMA - Data Analytics (DA) being a dynamics area of practise, a lot rapid developments are underway, especially in the tools and solutions available to undertake Forensic Accounting and Investigation (FAI) engagements....
CA, CS, CMA - The Professional is generally engaged during the legal proceeding or may be called upon by the Competent Authorities to testify on the evidence gathered and reported during the Forensic Accounting and Investigation (FAI) assignment, at which time the Professional is considered to be a Testifying Professionals (TP) for the purpose of the F...
CA, CS, CMA - This Guidance Note (GN) with reference to FAIS 350, deals with review and supervision as an integral part of the operational framework....
Motel Rahans Pvt Ltd Vs JSM Devcons Pvt Ltd (NCLT Indore) - NCLT Indore directed appointment of a forensic auditor to conduct audit on irregularities related to assets of corporate debtor in case of Motel Rahans Pvt Ltd Vs JSM Devcons Pvt Ltd. ...
Animish Pradip Raje Vs SEBI (Telangana High Court) - Animish Pradip Raje Vs SEBI (Telangana High Court) The present petition has been filed challenging the order dated 20.10.2020, passed by SEBI, appointing Grant Thornton Bharat LLP (GTB) as a Forensic Auditor in respect of the financial statements of the Prabhat Dairy Limited for the Financial Years ...
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...