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What Is a Forensic Audit?
A forensic audit is an examination and evaluation of a firm’s or individual’s financial records to derive evidence that can be used in a court of law or legal proceeding. Forensic auditing is a specialization within the field of accounting, and most large accounting firms have a forensic auditing department. Forensic audits require the expertise of accounting and auditing procedures as well as expert knowledge about the legal framework of such an audit.
Forensic audits cover a wide range of investigative activities. A forensic audit may be conducted to prosecute a party for fraud, embezzlement, or other financial crimes. In the process of a forensic audit, the auditor may be called to serve as an expert witness during trial proceedings. Forensic audits could also involve situations that do not involve financial fraud, such as disputes related to bankruptcy filings, business closures
Business environment today is volatile, fraud risks on the rise, perpetrators increasingly sophisticated, stakeholder expectations getting higher and regulatory enforcement, heightened. Against this background, vulnerabilities of a variety of fraud, misconduct, money laundering, bribery, kick-back schemes, amongst others, pose a substantial threat to financial, operational, and brand value of any business. It is therefore not an overstatement to say that identifying and mitigating these risks is crucial to a business’s existence. S K P N and Associates provides audits for business by helping in financial decision making for the client by subtracting the fraud risks, making it the best chartered accountant firm in India.
PRASS’s Forensic and Investigation Services is the answer to help you overcome these critical business challenges, effectively. Our accounting consultant team stands solid on experience and subject-matter expertise to provide the right insight, from strategy to execution in varied professional services. We at S K P N and Associates cover the spectrum of investigative and forensic services and take pride in having worked on diverse engagements, cutting sectors. While we tailor our solution to a client’s requirements, the agility, conviction and sensitivity with which we approach any issue is constant.
Reasons to Conduct a Forensic Audit
Forensic audit investigations can uncover, or confirm, various types of illegal activities. Usually, a forensic audit is chosen, instead of a regular audit, if there’s a chance that the evidence collected would be used in court. Below, we cite instances that could necessitate a forensic audit:
Corruption or Fraud
In a forensic audit, an auditor would be on the lookout for
- Conflicts of Interest—when a fraudster uses his or her influence for personal gains to the detriment of the company. For example, if a manager allows and approves inaccurate expenses of an employee with whom he has personal relations.
- Bribery—offering money to get things done or influence a situation in one’s favor.
- Extortion—the wrongful use of actual or threatened force, violence, or intimidation to gain money or property from an individual or entity.
Our service offerings
Comprehensive portfolio of forensic services under one roof. Undertaking complex investigations, providing the right business intelligence, appropriate response plans, from proactive to reactive services, we possess the right capabilities to address your requirement. S K P N and Associates is one of the best Chartered Accountant firm in India (www.skpn.in)
- Anti-bribery and corruption services
- Anti-money laundering
- Asset tracing
- Corporate investigation
- Corporate intelligence
- International arbitration
and dispute advisory - End-use monitoring of funds
- Fraud risk management
- Forensic digital technology procedures
- Fraud risk framework enhancement
- Whistle-blower assistance
- IBC compliance for resolution professionals
- Anti-sexual harrasment
(ASH) services
How S K P N and Associates creates value for you
We provide niche solutions every step of the way to support you achieve your goals
Investigating allegations spanning a range of corporate irregularities | Assessment and investigation of whistle-blower complaints | Bribery risk assessment | Forensic technology assistance |
On-field market intelligence | Developing an anti-fraud program | Anti-bribery due diligence | Dispute resolution to unravel complex business disputes |
Tracing embezzled funds or assets | Assistance in remedial actions | Regulatory compliance framework or periodic compliance review | Expert witness testimony |
Why SKPN?
1) In-depth exposure to versatile forensic engagements, from seemingly benign, to complex investigations
2) Act with agility, keeping in mind urgency of the situation
3) Functional diversity of our people, our team comprises of Ex-PSU Bank officer (full time Partner) and experienced with EOW Mumbai, intelligence experts, Chartered Accountants, lawyers, certified fraud examiners, field experts, background intelligence experts and management graduates.
4) Deployment of cross-functional resources
5) synergies of member firms across the globe
6) Customised services to answer your unique business concern