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Forensic Audit of Financial Crimes and Frauds (HIDE)

by Kamal Garg
Forensic Audit
Categories: Audit & Accounting
Publisher: Wolters Kluwer
About Book:

Forensic Accounting and Fraud Detection specialisation is in increasing demand considering increasing incidents of cyber crimes and frauds detection. It is the practice of utilizing accounting, auditing, CAATs/ Data Mining Tools, and investigative skills to detect fraud/ mistakes.

The discipline of forensic audit has assumed the special significance even in the wake of various contemporary laws like Insolvency and Bankruptcy Code, 2016, Prevention of Money Laundering Act, 2002, Prohibition of Benami Property Transactions Act, 1988 and so on. The book has covered all these aspects and laws in detailed manner.

The book will be a helping and guiding tool for the forensic auditors in assisting organizations and legal counsels in identifying and mitigating financial, operational and reputational risks because of their proficiency in conducting in-depth risk analyses of fraud, bribery and corruption, money laundering, restrictions on trade and export, related-party transactions, and conflicts of interest.

This book is also useful for the professionals involved directly or indirectly to the discipline of forensic audit. The unique features of this book are as follows:

  • Coverage of financial frauds under different Laws/Act (Corporate, Banking, Insurance, Income tax, Information Security, PMLA, etc).
  • Law on the Indian Evidence Act, 1872 covered separately.
  • Briefing on leading scams in India including Banking, Real Estate, Corporate, Financial and Cyber frauds, etc.
  • Analytical procedures and step-by-step process for forensic auditor.
  • Coverage of Investigation by Serious Fraud Investigation Office (SIFO).
  • Discussion on Cyber Frauds versus COVID-19.
  • Illustrative checklists for investigation of various items of financial statements.
  • Illustrative Format of Forensic Audit Report.
  • Black Money Committee Report, 2012.
  • Penalties and Punishments for Frauds under various Acts.
  • A separate chapter on Whistle Blower Policy followed with policy specimens/ samples.
  • Forensics under Insolvency and Bankruptcy Code covered separately.
  • Facts are exemplified with case laws, case study and with reference to Auditing Standards.
Author: Kamal Garg
About Author:
Kamal Garg :

CA. Kamal Garg is a Fellow Member of The Institute of Chartered Accountants of India (ICAI) and a First Class Commerce Baccalaureate from Deen Dayal Upadhyaya College, University of Delhi and an academic resource partner in KGMA, Delhi. He has also qualified post qualification course on Diploma in Information System Audit (DISA) conducted by ICAI. Besides this he is also an Insolvency Professional registered with Insolvency and Bankruptcy Board of India (IBBI). He was also the member of Board of Studies (BOS) Study Material Research Group (2009-2010) of NIRC of ICAI and a special invitee member of Accounting Standards Board (ASB) [2012-2013 and 2020-2021] and Ind- AS (IFRS) Implementation Committee [2014-2015] of ICAI. He was also nominated as a special invitee member to the Committee on Banking, Insurance and Pension (2014-2015) of NIRC of ICAI. He is also the faculty resource of Ethical Standards Board (ESB) and Peer Review Board (PRB) of ICAI. He is also a key resource person for development and review of various study contents and webcasts for BOS of ICAI, such as study material and practice manual on Advanced Auditing for CA Final, eLectures for CA IPCC and CA Final studies, etc.

Besides being a regular guest speaker for IFRS and Management Development Programmes at various forums including ICAI and ICSI, he is also an author of over dozens of book(s) and commentaries on company and commercial laws including Ind AS. He possesses a rich industry experience in the areas of Corporate Laws (like Companies Act, FEMA, Taxation, Foreign Collaborations, Joint Ventures, etc.), Audits and Management Consultancy.

About Publisher:

Wolters Kluwer Tax & Accounting in India (www.cchifirm.co.in), provides publishing, software and services that deliver vital insights, intelligent tools and guidance of subject-matter experts as well as offer subscription-based products with high quality content in areas including direct and indirect taxation, international taxation, corporate law and several other related topics. Wolters Kluwer Tax & Accounting (a Wolters Kluwer business) is part of the Wolters Kluwer Group, a leading global information service provider for professionals. Wolters Kluwer Tax & Accounting publications cover a wide range of topics such as tax, accounting, law, financial planning, human resources and training.

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Ratings and Reviews

Overall Rating
Review
Forensic Audit
Categories: Audit & Accounting
Publisher: Wolters Kluwer
About Book:

Forensic Accounting and Fraud Detection specialisation is in increasing demand considering increasing incidents of cyber crimes and frauds detection. It is the practice of utilizing accounting, auditing, CAATs/ Data Mining Tools, and investigative skills to detect fraud/ mistakes.

The discipline of forensic audit has assumed the special significance even in the wake of various contemporary laws like Insolvency and Bankruptcy Code, 2016, Prevention of Money Laundering Act, 2002, Prohibition of Benami Property Transactions Act, 1988 and so on. The book has covered all these aspects and laws in detailed manner.

The book will be a helping and guiding tool for the forensic auditors in assisting organizations and legal counsels in identifying and mitigating financial, operational and reputational risks because of their proficiency in conducting in-depth risk analyses of fraud, bribery and corruption, money laundering, restrictions on trade and export, related-party transactions, and conflicts of interest.

This book is also useful for the professionals involved directly or indirectly to the discipline of forensic audit. The unique features of this book are as follows:

  • Coverage of financial frauds under different Laws/Act (Corporate, Banking, Insurance, Income tax, Information Security, PMLA, etc).
  • Law on the Indian Evidence Act, 1872 covered separately.
  • Briefing on leading scams in India including Banking, Real Estate, Corporate, Financial and Cyber frauds, etc.
  • Analytical procedures and step-by-step process for forensic auditor.
  • Coverage of Investigation by Serious Fraud Investigation Office (SIFO).
  • Discussion on Cyber Frauds versus COVID-19.
  • Illustrative checklists for investigation of various items of financial statements.
  • Illustrative Format of Forensic Audit Report.
  • Black Money Committee Report, 2012.
  • Penalties and Punishments for Frauds under various Acts.
  • A separate chapter on Whistle Blower Policy followed with policy specimens/ samples.
  • Forensics under Insolvency and Bankruptcy Code covered separately.
  • Facts are exemplified with case laws, case study and with reference to Auditing Standards.
Author: Kamal Garg
About Author:
Kamal Garg :

CA. Kamal Garg is a Fellow Member of The Institute of Chartered Accountants of India (ICAI) and a First Class Commerce Baccalaureate from Deen Dayal Upadhyaya College, University of Delhi and an academic resource partner in KGMA, Delhi. He has also qualified post qualification course on Diploma in Information System Audit (DISA) conducted by ICAI. Besides this he is also an Insolvency Professional registered with Insolvency and Bankruptcy Board of India (IBBI). He was also the member of Board of Studies (BOS) Study Material Research Group (2009-2010) of NIRC of ICAI and a special invitee member of Accounting Standards Board (ASB) [2012-2013 and 2020-2021] and Ind- AS (IFRS) Implementation Committee [2014-2015] of ICAI. He was also nominated as a special invitee member to the Committee on Banking, Insurance and Pension (2014-2015) of NIRC of ICAI. He is also the faculty resource of Ethical Standards Board (ESB) and Peer Review Board (PRB) of ICAI. He is also a key resource person for development and review of various study contents and webcasts for BOS of ICAI, such as study material and practice manual on Advanced Auditing for CA Final, eLectures for CA IPCC and CA Final studies, etc.

Besides being a regular guest speaker for IFRS and Management Development Programmes at various forums including ICAI and ICSI, he is also an author of over dozens of book(s) and commentaries on company and commercial laws including Ind AS. He possesses a rich industry experience in the areas of Corporate Laws (like Companies Act, FEMA, Taxation, Foreign Collaborations, Joint Ventures, etc.), Audits and Management Consultancy.

About Publisher:

Wolters Kluwer Tax & Accounting in India (www.cchifirm.co.in), provides publishing, software and services that deliver vital insights, intelligent tools and guidance of subject-matter experts as well as offer subscription-based products with high quality content in areas including direct and indirect taxation, international taxation, corporate law and several other related topics. Wolters Kluwer Tax & Accounting (a Wolters Kluwer business) is part of the Wolters Kluwer Group, a leading global information service provider for professionals. Wolters Kluwer Tax & Accounting publications cover a wide range of topics such as tax, accounting, law, financial planning, human resources and training.

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Ratings and Reviews

Overall Rating
Review
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