Manuscript Number : SHISRRJ2033458

Role of Forensic Accounting in Fraud Detection and Legal Proceedings

Authors(1) :-Dr. Sanjeev Pal Singh

Forensic accounting is essential in fraud detection, employing specialized accounting as well as investigative methods to evaluate financial data, identify anomalies, and reveal fraudulent activities. It ultimately provides vital evidence for legal proceedings, supporting litigation efforts and demonstrating wrongdoing in court. Essentially, it connects accounting proficiency with legal standards to successfully present financial inconsistencies as actionable evidence. The escalating intricacies of company and commercial activities, coupled with financial irregularities and an excessive fixation on profit maximization, when taken to extremes, can result in failures such as SATYAM, ENRON, and WORLDCOM, which have profoundly detrimental effects on the continued existence and development of any economic entity. No standard accounting and auditing techniques can guarantee total assurance in preventing and discovering all instances of fraudulent financial reporting. The concept of forensic accounting is gaining prominence in India due to a rampant increase in corporate fraud, financial reporting irregularities, and other white-collar crimes. Forensic accounting has emerged as a novel and effective tool for accountants to detect errors and misconduct inside the accounting sector. Forensic accounting identifies and mitigates corporate fraud and scams. Forensic accounting has lately gained prominence in India due to the significant increase in white-collar crimes & the perception that law enforcement agencies lack the proficiency to detect fraud. This paper primarily focuses on the corporate framework, various rules, and the utilization of forensic accounting techniques in the investigation of corporate frauds and scams in India. This research is exploratory and theoretical, aiming to elucidate the scope and methodology of forensic accounting against the backdrop of increasing corporate fraud in India.

Authors and Affiliations

Dr. Sanjeev Pal Singh
Associate Professor, Faculty of Commerce, R.B.S. College, Agra

Forensic Accounting, Financial Fraud, Corporate Fraud, White-Collar Crime.

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Publication Details

Published in : Volume 3 | Issue 2 | March-April 2020
Date of Publication : 2020-03-30
License:  This work is licensed under a Creative Commons Attribution 4.0 International License.
Page(s) : 176-186
Manuscript Number : SHISRRJ2033458
Publisher : Shauryam Research Institute

ISSN : 2581-6306

Cite This Article :

Dr. Sanjeev Pal Singh , "Role of Forensic Accounting in Fraud Detection and Legal Proceedings", Shodhshauryam, International Scientific Refereed Research Journal (SHISRRJ), ISSN : 2581-6306, Volume 3, Issue 2, pp.176-186, March-April.2020
URL : https://shisrrj.com/SHISRRJ2033458

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