Acquire Now

Get The Best Quote




Required documents

ABOUT Forensic Audit

Application of accounting methods and techniques consisting of gathering, verifying, analyzing and reporting data in order to track and collect evidence for the investigation and prosecution of fraudulent acts is called forensic auditing. Forensic audit prepare financial statements for the user which can be used in court as a form of evidence. It aims at legal determination of existence of fraud and naming the person behind it for prosecution.

Forensic audit involves prosecution of a party for fraud, embezzlement, financial claims or fraudulent financial reporting which includes deception such as manipulation, falsification or alteration of accounting records or supporting documents, misrepresentation or intentional omission from the financial statements or intentional misapplication of accounting principles.

For analysis, data of past trends are taken and substantive checking of selected transactions is carried out. There is no limitation in accessing information even from the beginning.

Also the New Companies Act directs companies and independent directors to increase the safeguards against fraud which is where FINMART comes to aid for its clients.


Any individual or sovereign entity who has suspicion can get Forensic Audit done.

Required Documents

The documents needed for forensic audit differs from case to case. But the basic documents that can be asked by the auditor for search and analyzing can constitute of the following:

  • Emails
  • Documents and files that may be hidden, password protected, or encrypted
  • Files generated from the operating system
  • Databases of all users
  • Recently opened, accessed, created or deleted files
  • Online activities, including Internet banking transactions
  • Off balance sheet items such as contracts



Sr. No.


Statutory Audit

Forensic Audit



Express opinion as to ‘true & fair’ presentation.

Determine correctness of the accounts or whether any fraud has actually taken place.



‘Substantive’ and ‘compliance’ procedures.

Analysis of past trend and substantive or ‘in depth’ checking of selected transactions.



Normally all transactions for the particular accounting period.

No such limitations. Accounts may be examined in detail from the beginning.


Verification of stock, estimation of  realizable value of current assets, provisions/ Liability estimation, etc.

Relies on the management certificate/ representation of management.

Independent verification of suspected/ selected items carried out.


Off balance-sheet items (like contracts)

Used to vouch the arithmetic accuracy & compliance with procedures.

Regularity and propriety of these transactions/contracts are examined.


Adverse findings, if any

Negative opinion or qualified
Opinion expressed, with/without quantification.

Legal determination of fraud and naming persons behind such frauds.

Ask a Question