The procedure and approach of conducting a special/forensic audit is, in many ways, similar to the manner of conducting a regular financial audit, but with some additional and further considerations.
A professional firm should primarily ensure whether it has the necessary skills and experience to accept the work. Special/ Forensic audits are highly specialized and particular, and the tasks have need of thorough acquaintance of fraud inquiry methods and the legal framework. The experts of the firm should have received training in interview and cross-examination techniques, and in how to preserve the safe protection of evidence obtained and gathered.
We have senior and experienced members of the firm having skill and experience in carrying out special/forensic audit.
Our team carefully considers what they have been asked to achieve and plan their work accordingly. The objectives our team ensures while doing special/forensic audit that will include:
- categorizing the type of fraud that has been operating within the entity;
- how long it has been operating for;
- in what manner the fraud was concealed for the duration;
- ascertaining the fraudster(s) involved;
- computing the financial loss suffered;
- obtaining evidence to be used in court proceedings (if any);
- Giving recommendation to prevent the re-occurrence of the fraud.