Vol. 6, Issue 2 (2020)
The impregnable role of forensic accounting in detecting financial frauds
Author(s): Samuel S Mitra, Joseph K, Milton Costa
Abstract: In the current transient era of hyperbolic competition and ever increasing cynicism, people have been witnessed to be highly dubious of each other. With the prodigious growth in the knowledge and skills of people as well as the latest amplified technologies, any sort of discrepancy can be infused and wielded. In this light, financial firms of today are faced with an arduous task of detecting and dodging any kind of financial fraud. In order to blight the menace of such frauds, Forensic Accounting is playing a mammoth role. Most of the financial firms are undertaking the help of Forensic Accounting as mechanism for more comprehensive detailed information swirling financial frauds. Forensic Accounting is making use of several specialized tool for the purpose of fraud detection. Forensic accountants are presently high in demand as a result of public need for honesty, financial lucidity and ethical legitimacy. The present research study purports to investigate crux objective of exploring the instrumental role Forensic Accounting in detecting financial frauds keeping in view the various Indian financial nerve racking scams. The results of the study bring out the efficacy of Forensic Accountants and in turn the relevance of Forensic Accounting in detecting financial frauds. The study albeit theoretical is pivotal as it provides an exquisite conceptual base for further extended research. This study has brought out some of the most infamous financial frauds that took place in India. It has also highlighted the significance of Forensic Accounting in the current scenario.