PQR Ltd. is a listed company having turnover of ₹ 100 crore & plans expansion by installation of new machines at new building having total additional project cost of ₹ 40 crore. Purpose ₹ (Crores) For Building 20 For

A Forensic Professional will often look for indications of fraud that are not subject to the scope of a financial statement audit. Forensic Accounting has 'Investigative mentality' however auditing is done with 'professional skepticism'. A Forensic Professional will often require more extensive corroboration. A Forensic Professional may focus more on seemingly immaterial transactions. Particulars Other Audits Forensic Audit Objectives Express an opinion as to 'True & Fair' presentation Whether fraud has actually taken place in books Techniques Substantive & Compliance. Sample based Investigative, substantive or in-depth checking Period Normally for a particular accounting period No such limitations Verification of stock, Estimation, realisable value of assets, provisions, liability etc. Relies on the management certificate / Management Representation Independent/verification of suspected/selected items where misappropriation is suspected Off balance sheet items (like contracts etc.) Used to vouch the arithmetic accuracy & compliance with procedures Regulatory & propriety of those transactions/contracts are examined Adverse findings, if any Negative opinion or qualified opinion expressed with/without quantification Legal determination of fraud impact and identification of perpetrators depending on scope