#forensic-audit
Indian accounting body to launch forensic auditing lab
The facility is aimed at helping smaller practices take up forensic audit assignments, an area where many have been unable to compete for larger mandates.
Forensic audits support corporate-fraud probes and IBC cases but still lack enforceable standards
Such audits are being used more and more in insolvency and corporate fraud cases, but are not subject to any legally binding audit standards in India. Given how high the stakes are, this regulatory gap needs to be tackled right away.