Forensic Accounting in India: A Technique of Fraud Prevention and Detection – With special reference to Bank Scams in India

Forensic accounting in India has come spotlight only in recently due to rapid increase in financial Frauds and the white collar crimes. With an upswing in financial accounting fraud in the global economy, forensic accounting has become an emerging topic of vital importance for academic, research and industries. It is investigation in details about evidences. Forensic accounting is that area of accounting which establishes the practical/logical relationship between accounting and litigation. Major thrust behind application of forensic accounting is to uncover the financial collapse and saving the public money from misuse. India’s image in the transparency index is not very emboldened so it required building public confidence and investor’s trust. The present deals with the status of forensic accounting in India scams occurred in last decade. On the basis of findings of study it is concluded that forensic accounting is on infancy stage in India, very few (48) firms are providing this service. In recent past years use of forensic accounting has brought more frauds under scanner.