What is a Forensic Audit?
A forensic audit reviews the accounting statements to collect facts used in a court of trial or civil practice. Among municipal and federal law enforcement, corporate banking, and private investigators, it plays crucial positions. Forensic auditors are extremely valuable after a case has been constructed, from examining and evaluating records to aiding in court. Only […]
Case Study: Internal Audit Uncovers Major Discrepancies in Inventory and Transactions
Company: An importer and distributor of consumer electronics, found itself confronting substantial financial irregularities. Internal Audit – Initial Discovery of Discrepancies During a routine quarterly internal audit in March 2023, the company’s internal audit team unearthed a series of alarming discrepancies within its financial records. These included: Internal Investigation and Limitations The internal audit team initiated […]
