How many of you have ever heard of SFIO (Serious fraud investigation office) before? It is a committee setup by Government of India for the purpose of investigation of corporate frauds. It works under the department of Company affairs, Ministry of Corporate affairs. There is a task force constituted under a designated team leader forContinue reading “Investigation Procedure of Corporate Fraud”
Category Archives: Forensic Audit
Siphoning Out of Funds
Distinguishing exaggerated expenses or business losses from underlying techniques of siphoning out of funds There are also ways and means adopted by perpetrators of fraud for duping investors and equity partners or potential acquirers of business. Exaggerated incomes, sales, receipts, and /or deflated expenses are very possible. This is done with a view to improveContinue reading “Siphoning Out of Funds”
Masked Funds-Early Warning Bells, red flags and common fraud
There could be situations where funds are masked or hidden. This could be done for any reason such as concealing the correct fund position, or for keeping funds aside for future misuse or embezzlement. Such practices can also be applied to give an incorrect position takeover, mergers or other instances of recovery of defaulting borrowers.Continue reading “Masked Funds-Early Warning Bells, red flags and common fraud”
Fraud, Forensic Accounting and Forensic Audit
Any deception carried out for getting a wrongful benefit or advantage over another is a Fraud, in the broadest sense. When such deception is carried out largely for a commercial interest, a financial gain or financial or commercial profits, then it is business fraud. In other words, fraud is any kind of harm or damageContinue reading “Fraud, Forensic Accounting and Forensic Audit”
Economics, Finance and Taxation blogs 