• VIJAYA PRAKASH JAKKALA
• Lt. Dr. PANDU RANGA RAO

Thousands of businesses across this advanced technological global world are suffering from the disease of financial fraud and economic environment is severely affected. It has abode in every field resulting in gigantic economic losses to the entire fiscal system by misappropriation of assets& fraudulent financial reportingof a business may be either through the embezzlement, mismanagement, manipulation or misrepresentation by the defalcation. Common types of financial fraud in India include theft, bribery, money laundering, insider trading, and Ponzi schemes. In providing the exact evidence, the corporations have botched and tainted the image of the company by incongruous disclosures of financial statements scandals and frauds ending in losing the shareholders and confidence in the public. For the development of any company regarding efficient capital marketing, original and quality financial reporting is crucial. To save the business companies from the clutches of fraudulent demons, Forensic Accounting employs accounting & audit skills & investigative techniques in piloting meticulous examination & microscopic scrutiny for detection of financial crimes like fraud and forgery, misstating assets and liabilities, misleading accounting practices, Overstated revenues, understated expenses, non-recording of a transaction, market manipulation, misuse of corporate funds, misappropriation, money laundering, Government bribes, fraudulent invoices, falsified accounts, illegal payments, conflict of interest, etc., how, why and by whom the fraud was committed. For lawsuit in the court, its report is utilised for settlement of disputes between the parties and Forensic accountant may be an adept onlooker. He is rented for litigation related to insurance claims, insolvency, skimming & any financial theft. For claiming any damages from Insurance Company regarding accidental cases, forensic accounting plays a vital role.

ABSTRACT: Thousands of businesses across this advanced technological global world are suffering from the disease of financial fraud and economic environment is severely affected. It has abode in every field resulting in gigantic economic losses to the entire fiscal system by misappropriation of assets& fraudulent financial reportingof a business may be either through the embezzlement, mismanagement, manipulation or misrepresentation by the defalcation. Common types of financial fraud in India include theft, bribery, money laundering, insider trading, and Ponzi schemes. In providing the exact evidence, the corporations have botched and tainted the image of the company by incongruous disclosures of financial statements scandals and frauds ending in losing the shareholders and confidence in the public. For the development of any company regarding efficient capital marketing, original and quality financial reporting is crucial. To save the business companies from the clutches of fraudulent demons, Forensic Accounting employs accounting & audit skills & investigative techniques in piloting meticulous examination & microscopic scrutiny for detection of financial crimes like fraud and forgery, misstating assets and liabilities, misleading accounting practices, Overstated revenues, understated expenses, non-recording of a transaction, market manipulation, misuse of corporate funds, misappropriation, money laundering, Government bribes, fraudulent invoices, falsified accounts, illegal payments, conflict of interest, etc., how, why and by whom the fraud was committed. For lawsuit in the court, its report is utilised for settlement of disputes between the parties and Forensic accountant may be an adept onlooker. He is rented for litigation related to insurance claims, insolvency, skimming & any financial theft. For claiming any damages from Insurance Company regarding accidental cases, forensic accounting plays a vital role.

"A STUDY ON FORENSIC ACCOUNTING: FINDING THE SOLUTION FOR FINANCIAL FRAUD ", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.10, Issue 12, page no.405-409, December-2023, Available :http://www.jetir.org/papers/JETIRGA06045.pdf

"A STUDY ON FORENSIC ACCOUNTING: FINDING THE SOLUTION FOR FINANCIAL FRAUD ", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.10, Issue 12, page no. pp405-409, December-2023, Available at : http://www.jetir.org/papers/JETIRGA06045.pdf