Forensic Auditing Dubai | Introducing different classification of audits!

Forensic Auditing Dubai: A forensic audit is an examination and evaluation of financial records to derive evidence that can be used in a legal proceeding. This may encompass the detection and prevention of fraud, terror finance and money laundering. This Audit involves the examination of accounts to ascertain the financial irregularities and to follow the movement of funds and assets in organizations.

What is forensic auditing?

Forensic audit deals with investigation of full scope of concerned area of fraud and embezzlements to provide you better independent assurance to meet your specific objectives. Forensic auditor’s report provides evidence that can be presented in legal proceedings before the competent court.

Why is a forensic audit performed?

Following are the reasons that necessitate forensic auditing

  • Doubts of fraud, misrepresentation or robbery emerge.
  • Significant unusual financial movement.
  • Dummy accounts are observed in accounting records.
  • Ghost employees, customers, suppliers or any stakeholders are identified.
  • Lack of proper justification on an unexpected financial pattern.
  • Instances identified that financial statements are window dressed or fabricated.
  • Cooked books by employees for budget approvals, performance appraisals, proposal evaluation, financing, tax filing etc.
  • Misrepresentation by employees on matters like false invoicing, inventory/cash/assets theft, payments made to non-existing suppliers or employees.
  • Misappropriation of company’s assets by exploiting designated authorities to employees.
  • False invoicing

All like cases lead a forensic audit to distinguish the individual behind these exercises. Eliminating these exercises aids in business growth and restores an organization’s-controlled environment and good governance.

Summing Up

A forensic auditor is relied upon to furnish you with evidences that assist in identifying cases of frauds and embezzlements in your organization that can be submitted before court of law.

Also Check —>> Accounting Companies in Abu Dhabi

Forensic Auditing Dubai

If you are looking for forensic auditing, Adepts Chartered Accountants is your right team having experienced and qualified resources to provide you rightful solutions to these detrimental issues.

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