Published December 31, 2023
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A DESCRIPTIVE STUDY OF FORENSIC ACCOUNTING IN BUSINESS AREA
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Description
Forensic Accounting is the specialty area of the accountancy profession which describes engagements that results
from actual or anticipated disputes or litigation. “forensic” means “suitable for use in a court of law” and it is to
that standards & potential outcome that forensic accountants generally should work. Forensic accounting is the of
gathering & presenting financial information in a form that will be accepted by a court of jurisprudence against
perpetrators of economic crimes. It is the comprehensive view of fraud investigation. It includes preventing frauds
& analyzing antifraud control which includes gathering of nonfinancial information. Forensic accounting as
assistance in disputes which are likely to involve litigation, arbitration, expert determination, meditation or an
enquiry by an appropriate regulatory authority and investigation of suspected frauds, irregularity or impropriety
which could potentially lead to civil, criminal or disciplinary proceedings while focusing primarily on accounting
issues.
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