Main Article Content
Abstract
Financial sectors are prone to frauds and scandals, these frauds are not easy to investigate or detect by traditional auditors or investigators. Forensic accounting is an umbrella term which involves application of special skills such as accounting, auditing procedure, financing quantitative methods, research and investigative skills. Forensic means “suitable for use in a court of law.” Forensic Accounting is useful for detecting such financial frauds and helps in the investigation of financial issue related. Forensic Accounting is not same as auditing. Auditing is the process of checking for the compliance of a company’s book to GAAP, Accounting Standards and company policies. Whereas, forensic accounting is the process of in-depth analysis of financial transactions to discover the true picture of financial transactions, also it helps in settling legal disputes; forensic accountant and its report is used as witness and evidence in court respectively. Forensic Accountants need to have a special skill and knowledge in financial investigation. This paper is an attempt to highlight the genesis and modus operandi of forensic accounting in India. The study also aims at identifying the problems of forensic accounting in India. The contents of this paper includes; introduction, conceptual framework, literature review, objective and methodology of the study, genesis of forensic accounting in India, modus operandi, problem of forensic accounting in India, suggestion and conclusion.