Forensic Audit Decoded (Unlocking the Secrets of Forensic Accounting Investigation)

 ......................................................................................................................................
Description
In the fiscal year 2023, the Reserve Bank of India (RBI) documented bank frauds exceeding 302.5 billion rupees, equivalent to INR 30,000 crores. This marked a decrease from the 1.3 trillion rupees reported in 2021, signifying a reversal in the trend of escalating bank frauds in India over the past decade, both in terms of the total number of frauds and their monetary value. Still, however, the amount of Rs. 30,000 crore is staggering.
Fraud and economic crime rates remain at record highs, impacting more and more companies in various diverse ways than ever before. The value of the bank fraud reported in the financial year 2021-22 to the tune of Rs. 60,114 crore, according to the Reserve Bank of India's Financial Stability Report, published on May 27, 2022.
The RBI report further states that though the amount of frauds was down 56.28 per cent from 1.38 trillion in 2020-21 but in terms of number of frauds there was a hike of 23.69 per cent. The total number of frauds was 9,103 in 2021-22, as against 7,359 frauds in 2020-21. Also, the maximum frauds have occurred in the loan portfolio, both in terms of number and value.
......................................................................................................................................
Table of Contents
1. SETTING THE PATH
Chapter 1. Understanding the Forensic Accounting Investigation
Chapter 2. Some Interesting Facts of Forensic Accounting Investigation
Chapter 3. The T - 3 Structure Test, Trace and Track of Forensic Accounting Investigation
Chapter 4. Techniques and Tools for Forensic Accounting Investigation
2. DECODING THE SECRETS OF FORENSIC AUDIT OF RESOURCES
Chapter 5. Loans and Advances Given Gone with the Wind
Chapter 6. Investments like a Traveller without Destination
Chapter 7. Capital Work in Progress (CWIP) - which always Remained in Progress
Chapter 8. Tangible Fixed Assets which were never fixed
Chapter 9. Intangible Assets and Goodwill - neither visible nor good
Chapter 10. Stock in Trade and Debtors - Piling and Mounting
3. DECODING THE SECRETS OF FORENSIC AUDIT OF Operating Revenue
Chapter 11. Purchase of Goods and Sales - Tales of Hope and Despair
4. Key Metrics - Decoding other Important Aspects
Chapter 12. Common but Important Issues in Forensic Accounting Investigation icing on the Cake
Chapter 13. The Dog ate my Accounts
Chapter 14. Joint Venture to Divert the Funds
......................................................................................................................................
Author Details
Gyan B Pipara, is no short of fiction. Growing up in a remote town in Rajasthan with a humble background, he aspired to an "education" rather than inherit the family trading business. Giving priority to education was an unfamiliar choice at the time and at the place, for which the author was convinced-It was the only way to go. From the small town, he moved to Mumbai to pursue his Chartered Accountancy course, where he would informally coach his juniors as a tutor and make ends meet for hostel fees, examination fees & essentials.
This was his first stint at teaching, although he never realized it at the time. During his article ship, he had already gained hands-on experience in conducting Audits, but the keen learner in him wanted more. This was followed by a one-year industrial training with a Swiss Pharma's Indian office, where he learnt the impor- tance of MIS, data analysis & trends. Having qualified as a Chartered Accountant in 1982, he set up his practice in Ahmedabad, where his life became the very definition of 'Grit' (Grit is passion and perseverance for long-term and meaningful goals. It is the ability to persist in something you feel passionate about and persevere when you face obstacles).
Soon, he had single-handedly set up a roaring practice that was gaining traction in Ahmedabad. His attention to detail, commitment to paperwork & hard work yielded results that his friends, his family or he himself didn't imagine. It was this attention to detail, that made him stand apart in Board Meetings, which also got picked up by the then Chairman of State Bank of India, Mr. Pratip Chaudhary - when the author was serving on the Board of State Bank of Travancore (a subsidiary of SBI, SBI being a Fortune 500 company).