Forensic Accounting & Fraud Prevention

Introduction   Fraud is intentional deception made for personal gain or to damage another individual. Defrauding people or entities of money or valuables is a common purpose of fraud.   The term ‘forensic ‘has usually attracted an unfortunate connotation with the morbid world of forensic medicine. Forensic accounting shares only one thread common with forensic… Continue reading

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System Development Audit

It is a process of setting and developing the application, the computer system, built on the basis on business requirement. As an IS Auditor, the following could be reviewed: System Planning & Feasibility Audit: Every application is designed after considering the various areas of feasibility and the factors ranging from Economic, Cost Benefit Analysis, Technical… Continue reading

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Supply Chain Management

The supply chain management encompasses all activities associated with the transformation of goods from the raw material stage to the final stage. It involves planning, design and control of the flow of material, information and finance.        Why is SCM strategy important for an Organization? Supply Chain Strategies are the critical backbone to… Continue reading

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Internal Audit Plan of a Manufacturing Company for Purchase Department

Purchasing – a high-risk area subject to fraud – where an organization spent a significant amount of its money and can heavily impact the company’s quality, Environmental & safety objectives & targets. It is the first and most basic nature of expenditure, that any manufacturing company is required to incur, which is in direct proportion… Continue reading

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Scope of Internal/Concurrent Audits of Banks

Concurrent Audit – on the spot examination of transactions & activities at very frequent intervals to assure substantive checking in key areas rather than test checking. In the present scenario, risk-prone area to be covered under concurrent audit. After the recent Nirav Modi PNB Fraud and Vijay Mallya Case, a question has been put on… Continue reading

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