Forensic Accounting: A Future Way of Accounting | Original Article

ABSTRACT:

In India, the scams of thousands of crores are increasing rapidly. Due to the increasing frauds, there is a loss of trust in the reliability of the financial information uses by the user or makers of the economic decisions. To investigate the reason behind this a detailed investigation is very important. This made a great demand for a forensic accounting in India. Merely an audit is not enough for detecting the frauds. Forensic Accounting is the combination of the auditing, accounting and investigation skills. Initially, the forensic accountant is worked only for the government agencies to uncover or detect the underlying frauds. In this exploratory research paper discusses the concept and scope of the forensic accounting and the techniques used by the forensic accountant to uncover the frauds or white collar crimes. Also, discuss the recent notable scams in India.