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VOL. 8, ISSUE 1 (2026)
Forensic audit: Application of accounting, auditing and investigative skills
Authors
Dr. Vikas Ranjan
Abstract
Forensic means suitable for use in the court
of law. The examinations of a company’s financial records to derive evidence
which can be used in a court of law is a Forensic Audit. It includes the use of
accounting, auditing and Investigative skills to assist in the legal matters.
These audits are highly specialised, and the work requires detailed knowledge
of fraud investigation techniques and the legal framework. Forensic audit is
done in two phases; first one is investigation services and another is
litigation services. The audit is being conducted to tackle cases of
corruption, asset misappropriation and financial statement fraud. A fraud
triangle is most often used tool in forensic auditing that explains three
interrelated elements that assist the commission of fraud - pressure,
opportunity and rationalization. The reporting stage is the most obvious element
in a forensic audit. Forensic audit report is statement of observations
gathered and considered while proving conclusive evidence.
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Pages:116-118
How to cite this article:
Dr. Vikas Ranjan "Forensic audit: Application of accounting, auditing and investigative skills". International Journal of Management and Commerce, Vol 8, Issue 1, 2026, Pages 116-118
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