2020
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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ICAI
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IIT
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NIIT
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None of these
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Detailed explanation-1: -Currently around 20 Forensic Accounting and Investigation Standards are issued by Digital Accounting and Assurance Board (DAAB) of ICAI. India is the first country to release these standards. FAIS No.
Detailed explanation-2: -Forensic accounting utilizes accounting, auditing, and investigative skills to examine the finances of an individual or business. Forensic accountants are CPAs that look for evidence of crimes and commonly work for insurance companies, financial institutions, and law enforcement agencies.
Detailed explanation-3: -Forensic auditing is a speciality in the accounting industry, and most major accounting firms have a department forensic auditing.
Detailed explanation-4: -Forensic accounting is a type of accounting that investigates financial information for potential evidence of crimes. Forensic accountants use accounting, auditing, and investigative skills to understand whether a person or company has committed financial misconduct, such as embezzlement or fraud.
Detailed explanation-5: -The Securities and Exchange Board of India (Sebi) has initiated forensic audit into the financial statements of Future Retail (FRL) and Future Supply Chain Solutions (FSC) over concerns of improper disclosure of financial information.