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The Role And Necessities Of Forensic Accountant In Accounting

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Forensic Accounting concept coined after 9/11 mishap in USA to combating frauds. In India, Kautilya mentioned misappropriation and Maurice E. Peloubet coined the concept. Forensic accounting is the specialty practice area of accountancy that describes engagements that result from actual or anticipated disputes or litigation. Forensic Accountants work throughout the business world, in public accounting, corporations, and in all branches of government. Forensic accounting is unique in that it combines accounting with investigation. These bloodhounds as opposed to the watchdogs that are auditors attempt to sniff out fraudulent transactions from the financial records of banks and companies. Forensic accountant should have some skill regarding investigation of accounting books. Government of India is taking efforts for detecting frauds through separate agencies. Some fraud detecting also developed in India to combat fraud. It can be helpful for forensic accounting and can be easily supportive to the forensic accountants.



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