The Frauditor (A Beginner's Guide to Forensic Accounting and Fraud Investigations)

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Description
With fast-changing times, the landscape of audit practice continues to evolve, with some areas emerging and others becoming less relevant. In this dynamic environment, auditors have historically been viewed as watchdogs. However, today's expectation has shifted towards more aggressive and proactive fraud detection, demanding greater skill and precision. Auditors are no longer merely expected to identify apparent misstatements but to possess the ability to discern subtle irregularities and see beyond what is presented at face value. In essence, today's auditor must evolve into "The Frauditor".
In this second edition, I have sought to expand upon the foundations laid in the first edition, enriching the content to address the growing complexities of fraud detection and forensic accounting on a global scale. Notably, this book has been approved by the Institute of Chartered Accountants of India (ICAI) as official study material, underscoring its educational value for professionals in the field.
The book has undergone a significant transformation in this edition, with every chapter being redrafted to ensure global acceptability, making it applicable and valuable to forensic accounting professionals around the world. I have also included more than 200 new case studies that reflect the variety of fraud schemes encountered across different industries and regions. These real-life cases, while anonymized for confidentiality, offer deeper insights and provide the reader with practical, actionable knowledge, empowering them to confidently apply their skills in real- world situations.
Furthermore, this edition continues to educate the reader on well- stablished fraud schemes. Knowledge of these schemes enables statutory uditors, internal auditors, and other professionals to more readily identify ed flags and anomalies, thereby adding tremendous value to the akeholders they serve. The book focuses on essential concepts, cognising that understanding these core principles allows for their exible application to various situations that may arise in the future.
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Table of Contents
Chapter 1. Forensic Accounting Concept
Chapter 2. Understanding Evidence
Chapter 3. How can Auditors Detect Fraud
Chapter 4. Asset Misappropriation Schemes
Chapter 5. Financial Statement Fraud Schemes
Chapter 6. Kickback Schemes
Chapter 7. How to Deal with a Whistleblower Complain
Chapter 8. How to Analyse Data
Chapter 9. How to Prepare for Litigation
Chapter 10. Mistakes to Avoid
Chapter 11. The Art and Science of Interviewing
Chapter 12. Investigating Procedures
Chapter 13. Writing a Report
Chapter 14. Money Laundering Schemes
Chapter 15. Investigating Money Laundering
Chapter 16. FAIS Basic Principles
Chapter 17. FAIS Standards on Key Concepts
Chapter 18. FAIS Standards on Engagement Management
Chapter 19. FAIS Standard on Executing Assignments
Chapter 20. FAIS Standards on Reporting
Chapter 21. FAIS Standards on Quality Control
Chapter 22. FAIS Standards on Specialised Areas
Chapter 23. Investigating Stock Market Frauds
Chapter 24. Risk Assessment Report
Chapter 25. Case Summaries
Chapter 26. Sample Engagement Letter
Chapter 27. Investigation and Fraud Examination Report
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Author Details
Bharat Jeswani is a forensic accountant with over 15 years of experience in forensic accounting, fraud investigations, due diligence, internal audits, and fraud risk management. A Chartered Accountant since 2011, Bharat is also a Certified Fraud Examiner, Certified Forensic Accountant, Certified Financial Crimes Specialist, and Certified Anti- Money Laundering Specialist.
Bharat has made significant contributions to forensic accounting. His expertise extends beyond writing he was a member of the expert team responsible for drafting the Forensic Accounting and Investigation Standards (FAIS) issued by ICAI and has played a role in defining the course structure for the forensic accounting subject at ICAI.
He is a sought-after speaker, having been invited to share his insights at over 50 professional events. He has also trained a wide range of professionals, including officials from India's Central Bureau of Investigation (CBI).
In addition to his education and public speaking work, Bharat has served as a consultant to major government agencies such as the Directorate of Revenue Intelligence and the Income Tax Department, assisting in search operations and investigations.
His extensive experience and practical knowledge of digital forensics, fraud risk management, and forensic audits have positioned Bharat as a leading authority in the fight against financial crime, both in India and internationally.