Monako Consulting, is an established consulting firm in India providing various kinds of professional services covering consulting, valuation, taxation, forensic audit, etc. The Firm had various teams handling each line

Forensic auditing covers a broad spectrum of activities, with terminology not strictly defined in regulatory guidance. Generally, the term 'forensic auditing' is used to describe the wide range of investigative work which the professionals in practice could be asked to perform. The work would normally involve an investigation into the financial affairs of an entity and is often associated with investigations into alleged fraudulent activity. Forensic Auditing refers to the whole process of investigating a financial matter, including potentially acting as an expert witness if the fraud comes to trial. The process of forensic accounting includes the forensic investigation itself, which refers to the practical steps that the forensic auditor takes in order to gather evidence relevant to the alleged fraudulent activity. The investigation is likely to be similar in many ways to an audit of financial information, in that it will include a planning stage, a period when evidence is gathered, a review process, and a report to the client. The purpose of the investigation, in the case of an alleged fraud, would be to discover- If a fraud had actually taken place, To identify those involved, To quantify the monetary amount of the fraud (i.e. the financial loss suffered by the client), and To ultimately present findings to the client and potentially to court. Thus, 'forensic auditing' refers to the specific procedures carried out in order to produce evidence. Audit techniques are used to identify and to gather evidence to prove, for example, "how long the fraud has been carried out, and how it was conducted and concealed by the perpetrators. Evidence may also be gathered to support other issues which would be relevant in the event of a court case. Such issues could include: The suspect's motive and opportunity to commit fraud. Whether the fraud involved collusion between several suspects. Any physical evidence at the scene of the crime or contained in documents. Comments made by the suspect during interviews and/or at the time of arrest. Attempts to destroy evidence. This way, it is proved that the tool of forensic audit is one of the strong tool in detecting the frauds, assisting financial stability and enduring economic growth of the nation under vision New India, 2022.