Harnessing AI in Forensic Audit: Expanding Opportunities for CMAs

Authors

  • Usha Ganapathy Subramanian Practising Company Secretary Chennai
  • Aditi Dasgupta Joint Director The Institute of Cost Accountants of India Kolkata
  • Ranjith Krishnan Sustainability Consultant Thane

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Abstract

In today’s world, with the rising focus on governance and fraud risk management, forensic audit plays an important role. With its focus on verifying the existence and extent of an alleged fraud or financial misconduct, it differs from regular audits, both in scope and approach. CMAs are well-suited for conducting forensic audits given their knowledge, skillsets and the ability to be impartial and exercise professional judgment. Forensic auditors can augment their procedures with AI tools upping the ante against fraudsters. This article delves deeper into the concept of forensic audit, artificial intelligence (AI), how forensic auditors can leverage AI and how CMAs are well-suited for these engagements.

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Published

2024-11-14

How to Cite

Subramanian, U. G., Dasgupta, A., & Krishnan, R. (2024). Harnessing AI in Forensic Audit: Expanding Opportunities for CMAs. The Management Accountant Journal, 59(10), 43–47. Retrieved from https://icmai-rnj.in/index.php/maj/article/view/173712

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