Forensic Audit (CMA-Dec-2020)

-

 

 

  Ans:-

A forensic audit is an analysis and review of the financial records of a company.

Forensic auditing is a specialty in the accounting industry, and most major accounting firms have a department forensic auditing. Forensic audits include the experience in accounting and auditing practices as well as expert knowledge of forensic audit's legal framework.

Forensic audits could also include situations that do not involve financial fraud, such as bankruptcy filing disputes, closures of businesses, and divorces.

 

What are the Reasons for Conducting a Forensic Audit?

Forensic audit investigations may expose, or confirm, various kinds of illegal activities. Normally, instead of a normal audit, a forensic audit is used if there is a possibility that the evidence gathered would be used in court.

The forensic audit process is similar to a traditional financial audit — planning, gathering evidence, and writing a report — with the additional step of a possible appearance in court. The lawyers on both sides offer evidence that the crime is either discovered or disproved, which decides the harm sustained. They explain their conclusions to the defendant should the case go to trial before the judge.

 Learn More click here

 

Comments

Post a Comment

Popular posts from this blog

List of BAS & BFRS (Bangladesh Accounting & Financial reporting Standard)

-
  BAS and BFRS   Adoption Status of International Accounting Standards (IASs) by ICAB as Bangladesh Accounting Standards (BFRS) as on 1 January 2013.   BAS No. BAS Title BAS Effective Date Remarks 1 Presentation of Financial Statements on or after 1 Jan 2010   2 Inventories on or after 1 January 2007   7 Statement of Cash Flows on or after 1 January 1999   8 Accounting Policies, Changes in Accounting Estimates and Errors on or after 1 January 2007   10 Events after the Reporting Period on or after 1 January 1999   11 Construction Contracts on or after 1 January 1999   12 Income Taxes on or after 1 January 1999   16 Property, Plant & Equipment on or after 1 January 2007   17 Leases on or after 1 January 2007   18 Revenue on or after 1 January 2007   19 Employee Benefits on or after 1 January 2013   20 Accounting of Government Grants and Disclosure of Government Assistance on or after 1 January 1...
Read more

Duties of company secretary in respect of issue right share by public Ltd.?

-
  Following are the duties & responsibilities of the secretary   about issue of right share 0101. Take steps strictly as per BSEC right issue rules-2006 0202. Convene a meetring of board of director to consider a.proposal of right issue & term of issue. b.Approve date clopsing   the register of the members & transfer book c.To fix up the time date ,place   & agenda of the meeting 03.Notice of meeting to the   members 04. passed resolution approving right issue 05.prepare the list of the memberes showing shareholding 06.Dispatches letter of right   to the member 07.Take steps to dispose the   share 08.Issue final allotement to the members within 04 weeks from the date of closing subscription 09.Preparing & issue of   share certificate within 90 days from the date of allotement.
Read more

Mushake List Under VAT & Supplementary Duty ACT -2012

-
SL NO Mushak Basis Marks 01 Mushak-2.1 Vat registration Apply Registration Purpose 02 Mushak-2.2 N/A 03 Mushak-2.3  online Vat  Registration 04 Mushak-2.4 Cancellation  online Vat  Registration(Permanent /Temporary) 05 Mushak-2.5  online Vat  Registration(Coreection) 06 Mushak-3.1  Apply Mushak Adviser(Agent)   07 Mushak-3.2 Certify as Mushak Adviser(Agent)   08 Mushak-3.3     09 Mushak-4.1 Return Advance VAT   10 Mushak-4.2 Declaration With saler  & byer When dismiss Business   11 Mushak-4.3 ...
Read more