Locking Financial Depletion by Unlocking Frauds using Forensic Audit: A Lynchpin

Abstract

The value of the financial system is getting dilapidated as frauds are increasing both at a domestic and international level. Audit assignment performed by the several categories of auditors demonstrated only the deviations or non-compliance of the clienteles’ performance in their audit reports but not taken to the court of law for scrutinization in the presence of the auditor. Therefore, the frauds can be detected by applying the forensic audit which exhibits the motives of the perpetrators behind the occurrence of the fraud. Cost and Management Accountants can be judgmental in this task.