Forensic auditing is the auditing for gathering the financial evidences which are accptable in the matter pending before the courts of laws or in the potential fraud case. We at Riskpro call auditing for the frauds. Forensic auditing services are required for number of reasons. One of the most prominent reason is for the compliance of the Foreign Corrupt Practices Act [FCPA], where the organisation requires to find out potential ways to adjust the bribes paid to the government officials.

An obvious example of forensic auditing is the investigation of a fraud or presumptive fraud with a view to gathering evidence that could be presented in a court of law. However, there is an increasing use of auditing skills to prevent fraud by identifying and rectifying situations which could lead to frauds being perpetrated (i.e. risks). It might be useful, therefore, to discuss forensic auditing as being either ’Reactive’ or ‘Proactive ‘.

Understanding the early warning signals of frauds is very crucial activity in the forensic auditing and Indiaforensic has done the pioneering research in the Early Warning Signals of Corporate frauds in the year 2008. This research is not available in public domain, but same is the basis of the forensic auditing work of Riskpro.

In order to complete the forensic auditing we use various technology tools. Our team of experts have designed a special training programs for the bank officials to comply with the provisions of the RBI circular.