Abstract : Forensic accounting popularly known as white collar crimes has risen to prominence because of increased financial fraud at the end of the past and the beginning of this century have imposed the need for deeper investigation of irregularities in the area of financial reporting. Forensic accounting is a specialized field of accountancy which investigates scams and frauds and analyse financial information to be used in legal proceedings in the court. Forensic accounting uses auditing, accounting, and investigative skills to conduct investigations into fraud and theft by way of investigative accounting and litigation support. The main aim of paper is to discuss scams, frauds and their investigation as well as to create awareness about the necessity and role of forensic accounting and a forensic accountant in development and betterment of the Indian economy. This paper is conceptual in nature and information is collected from secondary data and the previous literature on forensic accounting, along with the experts’ views on the same. This research has been inspired by various news articles, journals and the urge to explore the field. The paper also tries to provide framework for forensic accounting and the methodology in which forensic accounting is conducted. The paper also talks about relevance and legislative support for forensic accounting in India. The rise of financial scams in India especially in governmental sector requires that forensic auditing should be made mandatory as the current statutory audit are not in the state of in depth audit which is required to detect the financial scandals which have become a real threat against the development agenda for developing and emerging nations like India.
Cite : Kumar, B. (2023). A Study of Indian Forensic Accounting with Reference to Corporate Frauds and Scams Cases (1st ed., pp. 163-173). Noble Science Press. https://doi.org/10.52458/9789388996587.2023.eb.ch32
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