Forensic Audit in UAE
An audit is the examination of the financial records of a company for verification. However, an investigation is the inquiry of the financial activities of a company for a special purpose. In contrast to auditing, investigation is a thorough and detailed examination of the books of accounts to discover the truth. Auditing is a general examination while investigation is a critical one. The evidence obtained from the audit process is persuasive. On the other hand, the evidence obtained from the investigation process is conclusive in nature.
Forensic Audit, a.k.a. Investigative Audit involves examining accounts and using accounting procedures to discover financial irregularities and follow the movement of funds and assets in and out of organisations. In order to maintain a company’s reputation and operation, any allegations or suspicions of fraud must be dealt with swiftly and effectively. A forensic audit can be carried out for multiple reasons. Some of the reasons are: