What is Investigative Accounting?
This type of accounting involves the investigation of financial and accounting records to uncover fraudulent activity or financial misconduct, and it may be used in legal proceedings such as litigation or regulatory investigations. Investigative accountants may work for accounting firms, law firms, government agencies, or as independent consultants.
Investigative accountants are professionals who specialize in financial investigations and are trained to detect financial fraud and misconduct. They may work for a variety of organizations including accounting firms, law firms, government agencies, or as independent consultants.
Application of Investigative Accounting
In the corporate world, investigative accountants are often called upon to conduct internal investigations related to financial irregularities, such as embezzlement, money laundering, or financial statement fraud. They may also be engaged by law firms to provide support in litigation matters that require expertise in accounting and financial analysis.
Government agencies such as the Central Bureau of Investigation (CBI), the Securities Exchange Board of India (SEBI), and the Income Tax Department (IT) also rely on the skills of investigative accountants in their work. These agencies may hire forensic accountants to investigate financial crimes, such as tax evasion, securities fraud, and money laundering.
Independent consultants, who are usually self-employed, may also offer their services as investigative accountants to organizations or individuals who require assistance in detecting and investigating financial fraud.
Law enforcement agencies require the help of investigative accountants to investigate frauds related to investors and to present economic offenses before a court of law. Where the investors’ money is at stake the forensic accounting analysis of financial statements plays a very crucial role.
Riskpro is a company that has established itself as a pioneer in the investigative accounting market by being one of the few companies registered with the Government of Maharashtra to work on forensic accounting assignments with various Law Enforcement agencies.
Over the years, Riskpro has gained recognition as the market leader in Public Sector Undertakings and Government work, thanks to its expertise in offering soft solutions to fraud problems. The company has earned a reputation for its ability to effectively investigate financial fraud, which has helped it to command a dominant market share in the investigative accounting market.
Satyam’s episode has proved that the Information Technology sector is very much prone to fraud. Professionals in our team were associated with the investigation of the Satyam frauds. Post Satyam, our team is rendering forensic accounting services to the Information Technology sector. Our team has helped Information Technology companies in resolving acute business problems and has conducted assignments like
- Application of Forensic accounting techniques and understanding the financial statements of the various IT companies
- Investigating the frauds based on the whistleblowing complaints
- Recovering the data by applying the computer forensic techniques
