Forensic Examiner
A Forensic Examine/Audit is an in-depth examination of financial records, transactions, and systems to detect fraud, misconduct, or irregularities. Unlike a statutory audit, it focuses on investigation and evidence collection, often used in legal and regulatory proceedings.
Key Features
- Investigative & Evidence Based – Findings are admissible in courts.
- Fraud Detection – Identifies misappropriation, manipulation, and compliance breaches.
- Specialized Expertise – Combines accounting, laws and forensic technology.
- Regulatory Importance – Mandated by SEBI, RBI, MCA, and IRDAI in critical cases.
Forensic Examine/Audit in Commercial Sector
- Detects financial statement fraud, insider trading, bribery, or corruption
- Ensures corporate governance and regulatory compliance.
- Used in Mergers & Acquisitions due diligence
- Investigates Banking & NBFC frauds
- Protects investors and strengthens market credibility
Forensic Examine/Audit in Insurance Sector
- Detects fraudulent claims, inflated losses, or false documentation.
- Reviews underwriting, reinsurance, and claim settlement processes
- Prevents mis-selling and policyholder fraud
- Supports insurers in subrogation and recovery cases
- Provides expert evidence in insurance arbitration or litigation.
Role of a Forensic Examiner/ Auditor
- Examine financial and insurance records
- Trace suspicious transactions & fraud patterns
- Preserve digital and documentary evidence
- Prepare reports for management, regulators, or courts
- Assist in litigation, arbitration, and insurance disputes