CA, CS, CMA : This article explains how forensic accounting has exposed major corporate frauds that escaped traditional audits. The key takeaway...
Goods and Services Tax : The Court ruled that large gaps between GST returns and ITR figures cannot justify Section 74 demands without forensic verificatio...
CA, CS, CMA : This explains how internal audit focuses on ongoing risk prevention while forensic accounting investigates suspected fraud. The ke...
Corporate Law : Delayed forensic audits in insolvency cases reduce resolution value, discourage bidders, and increase liquidation risk, highlighti...
Corporate Law : Explore the methods forensic auditors use to detect financial fraud, from red flags to data analytics, and their critical role i...
CA, CS, CMA : ICAI seeks public comments by July 31, 2025, on proposed amendments to Regulation 204, introducing "Forensic Investigation" into C...
CA, CS, CMA : Guidance Note For Forensic Accounting And Investigation Standard No. 000 On Over Arching Documents provides technical clarificatio...
CA, CS, CMA : The Forensic Accounting and Investigation Standard (FAIS) 420 on Evidence Gathering in Digital Domain provides guidance to the Pro...
CA, CS, CMA : Data Analytics (DA) being a dynamics area of practise, a lot rapid developments are underway, especially in the tools and solution...
CA, CS, CMA : The Professional is generally engaged during the legal proceeding or may be called upon by the Competent Authorities to testify on...
Income Tax : NCLT Indore directed appointment of a forensic auditor to conduct audit on irregularities related to assets of corporate debtor in...
CA, CS, CMA : SEBI's order appointing GTB as a forensic auditor challenged. High Court quashes decision due to bias concerns, orders new auditor...
SEBI : SEBI clarifies its forensic auditor empanelment, detailing the transparent application process, eligibility criteria, and reasons ...
Fema / RBI : 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 as...
Forensic Accounting or Investigation (FAI) assignments is a fact-finding exercise seeking relevant and reliable evidences. Conclusions and reporting are dependent on the basis of evidence gathered and documents considered
FAIS 310 on Planning the Assignment expects the Professional to recognise the need for a well-planned assignment, the objectives of which are clear, in line with the nature of the engagement, as well as its scope and terms
FAIS 510 on Reporting Results mandates a written report comprising of the findings along with the evidence relied upon by the Professional in a structured manner to provide the stakeholders with a balanced and factual account of the outcome of Forensic Accounting and Investigation (FAI) engagements.
FAIS 430 on Loans or Borrowings is a specialised Standard related to disputed transactions of loans or borrowings. Both fund based and non-fund based loans or borrowings are covered, (including personal loans or borrowings) extended by banks as well as non-banking finance corporations
This Guidance Note (GN) deals with practical application of Quality Control (QC) techniques to support the Professional in ensuring a consistent approach for an acceptable quality of work performed.
FAIS 250 on Communication with Stakeholders expects the Professional to appreciate the need for a clear, continuous, two-way communication with several stakeholders at various stages of the Forensic Accounting and Investigation (FAI) engagement
FAIS 240 on Engaging with Agencies expects the Professional to understand the responsibilities which apply when asked to engage with the agencies and how to apply these in a Forensic Accounting and Investigation (FAI) engagement
FAIS 230 on Using the Work of an Expert expects the Professional to understand the responsibilities when reliance is placed on the work of another Professional considered to be an expert in some area relevant to the engagement
Forensic Accounting and Investigation Standard (FAIS) 220 on Engagement Acceptance and Appointment deals with the responsibility of the Professional prior to agreeing with the terms of the engagement during appointment
A hypothesis is a provisional unproven theory supposition or proposed explanation based on limited facts assumptions and observations the merits of which needs to be established through further examination and study of evidence
