FORENSIC AUDITS: A POWERFUL TOOL OF STRATEGIC FINANCIAL MANAGEMENT
Author: Kshitija R. Soman
Category: General Management
Abstract:
Despite all this, India loses billions of dollars to fraud each year. Since the apex body of auditors does not accept the responsibility of fraud, there is need of a new milestone in the growth of auditing function called Forensic Auditing. This can help an entity improve the bottom line without manipulating the financial statements. Preventive health checkup of finances to identify frauds is the need of the hour. Forensic auditing principles carry the ability to demystify the financial uncertainties coming in the way of organizations goals and targets, thereby giving them a competitive edge over others.evelopment and execution of auditing required management and the board to ensure consistency of financial results with established objectives, achievement of goals as also legal compliance. However, in The researchers will try to incorporate views of auditors and employees on this issue. The aim of this paper is to give a new relevance to auditing by going beyond numbers and to build a transparent corporate cu\ture by incorporating forensic accounting principles therein. KEYWORDS Auditing, Compliance, Corporate Culture, Transparent.
