Forensic Accounting is the use of accounting principles and investigation techniques to ferret out fraud and theft .
The world of Forensic Accounting involves grasping the seriousness of a situation and looking way beyond mere numbers . Forensic Accounting is long , but the field came into its own just in the last century .
Forensic Accounting is an orderly analysis , investigation , inquiry , test , inspection or examination along a “paper trail “ in the search for fraud , embezzlement . or hidden assets . It relies on the fraud triangle to find out weak points in business processes and identify possible suspects in cases of fraud . It consists of three core concepts that together create a situation ripe for fraud ; incentive , opportunity and rationalization .
It includes two parts :-
ð Investigative accounting
ð Litigation support
