Forensic Audit
Specialized investigative accounting examinations, transaction reconstruction, fund diversion inquiry, and factual dispute advisory adhering to professional forensic standards.
What We Cover
Approved statutory and professional services under this practice area.
Service Overview
Forensic auditing is a specialized discipline integrating accounting, auditing, and investigative techniques to conduct detailed examinations of financial records. Unlike standard audits that evaluate overall financial fairness on a sample basis, forensic examinations are hypothesis-driven and focused on identifying specific irregularities, transaction anomalies, or fund diversions.
Sanjeev Dua & Associates undertakes forensic audit engagements in accordance with the Forensic Accounting and Investigation Standards (FAIS) issued by the Institute of Chartered Accountants of India, applying advanced financial analytics to examine complex transaction trails and deliver objective factual findings.
Who May Require This Service
General commercial circumstances and entity types subject to this framework.
Typical Process & Engagement Approach
How our professional team coordinates and executes assignments.
1. Scoping & Hypothesis Formulation
Establishing engagement terms, identifying the scope of inquiry, and formulating preliminary investigative hypotheses.
2. Data Extraction & Evidence Preservation
Securing electronic accounting records, banking transactions, and documentary evidence following chain of custody protocols.
3. Transaction Tracing & Forensic Analytics
Deploying financial analytics, transaction pattern recognition, and ledger reconstruction to trace fund flows.
4. Factual Synthesis & Independent Reporting
Synthesizing verified factual findings into an objective, evidence-based report suitable for stakeholder review.
Information & Documents Typically Required
Standard records and background materials necessary for assessment and filing.
Professional Approach & Standards
Our forensic examinations are conducted with strict confidentiality, procedural independence, and evidentiary discipline. We adhere closely to ICAI Forensic Accounting and Investigation Standards (FAIS), ensuring that all findings are supported by verifiable, corroborative documentation.
Common Questions
Key answers regarding service scope, regulatory relevance, and procedural steps.
How does a forensic audit differ fundamentally from a statutory financial audit?
A statutory audit provides reasonable assurance on whether financial statements as a whole are free from material misstatement, operating primarily on sample testing. A forensic audit is an exhaustive, specific investigation aimed at uncovering evidence regarding particular suspected transactions, asset diversions, or control breaches.
What standards govern the conduct of forensic audits by Chartered Accountants?
Forensic audits in India are conducted under the Forensic Accounting and Investigation Standards (FAIS) established by the Digital Accounting and Assurance Board of the ICAI, covering planning, evidence collection, analytics, and reporting.
Can forensic audit reports be utilized in legal or dispute resolution proceedings?
Yes. Forensic audit reports provide objective, structured financial evidence and transaction reconstructions that can be submitted to management, boards, arbitration panels, or legal forums to clarify disputed financial facts.
Related Practice Areas
Interconnected statutory and corporate advisory disciplines.
Discuss Your Requirements with Our Office
Contact the firm to discuss your specific accounting, taxation, or compliance requirements with our professional team.