Forensic Audits

Abstract

Forensic audits have evolved in recent years as a necessity for controlling corporate misconduct, fraud, and misrepresentation of financials. In India, the regulator that monitors and administers the financial affairs of listed firms is the Securities and Exchange Board of India (SEBI). SEBI guidelines are integral parts of the overall legislative ecosystem governing forensic audits. This paper explains the legislative details related to forensic audits, as most of the focus is laid on the guidelines by SEBI, acts like the Companies Act 2013, and further real-life case studies based on the application of these laws. We will also go into the aspects in which forensic audits maintain transparency and compliance within the financial realm.