Nair Swathy Balasaraswathi, Research Scholar, Department of Law, University of Kerala, Trivandrum, Kerala
The terrene is blossoming day by day with novel technical prelations, onward to stow away the crimes are not plain sailing...
Forensic accounting handles auditing or accounting, research, and investigative skills to carry to completion a financial or individual financial reckoning. Forensic accounting replenishes accounting analysis that should be used in a trial. Forensic accountants are trained to look beyond numbers and deal with the reality of business cachet. Forensic accounting is often used in fraudulent and fraudulent cases to define a type of financial crime in court. Forensic accounting is a mishmash of accounting and investigative techniques used to stumble on financial crime. One of the passkey functions of forensic accounting is to define the nature of financial crime in the courts. Forensic accounting makes room for the use of tracking funds, asset identification, asset recovery, and due diligence. Forensic accounting is used by the insurance industry to recover damages from claims. 1Forensic auditors analyze, interpret, and summarize complex financial and business matters. They may be employed by insurance companies, banks, police, government agencies, or public book firms. Accountants compile financial statements, develop computer applications to manage information collected, and transmit their findings in the form of reports or presentations. In addition to testifying in court, a forensic accountant may be asked to provide visual aids to support his case. In a business investigation, forensic accounting includes the use of tracking funds, asset identification, asset acquisition, and appropriate reviews. Accountants may need additional training in Alternative Dispute Resolution (hereinafter referred as ADR) due to their high level of legal involvement and familiarity with the judicial system.
