Forensic Audit and Its Procedure in Indian Legal Regime: Role of Company Secretaries

Abstract

India is powering its way towards attainment of economic growth, progress, and all-round development. It is being globally recognized as one of the fastest growing economies of the contemporary world. Undoubtedly, emerging face of India captures the spirited government’s reform and initiatives under the realm of Good Governance. However, corporate governance revolves around five ‘E’s viz., ‘Effectiveness, Efficiency, Ease, Empowerment, and Equity’. In this direction, as true professionals, Company Secretaries are adopting a highly collaborative approach and addressing daunting challenges like fraud, deceit, financial misplacement, etc., that are hindering the inclusive growth of India. In this background, Forensic Audit is considered as the need of the hour for making the corporate culture of India robust, rich, and resilient. This concept Paper aims to give glimpses into the practical and practical and applied aspects and procedure of Forensic Audit and gist of some of the relevant leading Indian Case Laws related.