Results for tag: "Forensic Auditing"

In the field of accounting, forensic auditing refers to the specialized practice where accounting, auditing, and investigative skills are utilized to examine an entity's financial statements for evidence of fraud, embezzlement, or other financial irregularities. Forensic auditors are trained to detect and trace fraudulent transactions, to analyze financial information for use in legal proceedings, and to provide litigation support. They may work on cases involving financial statement fraud, asset misappropriation, and corruption. Organizations across various industries may engage forensic auditors for preemptive fraud risk assessments or for conducting detailed investigations following suspicions or discovery of financial misconduct. Regulatory bodies may also engage forensic auditors to ensure compliance with financial regulations. The market for forensic auditing services has expanded due to increased scrutiny of financial transactions and a greater emphasis on accountability and transparency in both the private and public sectors. Some well-known companies operating within the forensic auditing market include PricewaterhouseCoopers (PwC), KPMG, Ernst & Young (EY), Deloitte, BDO International, and Grant Thornton. These firms offer a range of services that encompass fraud investigations, dispute resolutions, and compliance with complex financial regulations, and they often maintain specialized departments dedicated to forensic accounting practices. Show Less Read more