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Forensic Accounting Services

Introduction

Forensic Accounting Services is the core practice area of IFAIA with focus on Prevention Detection and Investigation of Frauds & White Collar Crimes at Corporates. The term Forensic in a broad sense means "suitable for use in a court of law", and in that context what stands to legal scrutiny is what is right and what it should be. So when we talk about forensic Accounting it would mean accounting that is right, created, protected and supported by strong cannons and will stand to legal scrutiny. Therefore its essence is the assessment of accounting systems and accounts presentation wherein numbers reflect reality and can definitely be relied upon and if numbers do not reflect reality they cannot be relied upon. Fraud Investigation therefore becomes the essence of Forensic Accounting Services which reveals the inside story of accounting systems and accounts presentation and its reliability.

Experience

IFAIA has a team of professionals who have in depth understanding of Forensic Accounting Services and have been working in this field for more than a decade and can help corporates in:-
  • Identifying wrong Accounting Practices which would not stand to legal scrutiny in an ERP environment
  • Finding wrongs in financial records where the numbers do not speak the truth and have Potential of frauds
  • Providing end-to-end support to detect wrongs and investigate frauds and take them to their logical conclusion including prosecution where required
  • Provide complete support to take such matters to its logical conclusion

Our Approach

IFAIA follows an effective two prong strategy for Fraud Investigation.

The first is in cases where the wrongs have already surfaced and companies are aware that they have been hit; IFAIA moves in to take the matter forward in totality and to bring the wrong to its logical conclusion. This Approach helps the corporate who do not have in-house expertise in fraud investigation. Such Investigation is an art and no two situations can be the same. How to undertake an investigation cannot be standardized and legal outcome invariably depends on homework well done.

In the second strategy, IFAIA undertakes the business system analysis of the corporate, to understand the vulnerable area. Such areas are extensively probed to detect wrongs. Such wrongs once detected are then taken to their logical conclusions.