Forensic Audit

Forensic audit is the application of investigative skills to detect, investigate, and prevent financial fraud and white-collar crime. It involves analysing financial data, identifying irregularities or discrepancies, and conducting investigations to determine the extent and source of fraudulent activity. Its objective is to gather facts and evidence, especially in the area of financial transactions and operational arrangements, to help the professional form an independent expert view and support a legal case in a court of law. Uses of a forensic audit Forensic accounting is used in a variety of contexts, including: Fraud investigations: Investigates financial fraud, such as embezzlement, money laundering, and Ponzi schemes. Litigation support: It provides expert testimony and assists attorneys in cases involving financial disputes, including divorce settlements, business valuations, and shareholder disputes. Regulatory compliance: It helps organisations comply with financial regulations and prevent fraud by conducting audits, developing policies and procedures, and providing training and education to employees. Cybercrime investigations: It investigates financial crimes that occur through digital channels, such as hacking, phishing, and ransomware attacks.

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Curious to learn more about Taxation and Finances?

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