Forensic Accounting and Corporate Fraud: Lessons from India and the World

• Author(s): Dr. Lalita Babulal Malusare
• Paper ID: 1709959
• Page: 124-133
• Published Date: 11-08-2025
• Published In: Iconic Research And Engineering Journals
• Publisher: IRE Journals
• e-ISSN: 2456-8880
• Volume/Issue: Volume 9 Issue 2 August-2025

Abstract

Forensic accounting is a specialized branch of accountancy that focuses on investigating scams, frauds, and analyzing financial data to support legal proceedings. It combines auditing, accounting, and investigative skills to uncover financial irregularities through investigative accounting and litigation support. The primary aim of this paper is to explore various financial scams and frauds, outline the methods of their investigation, and emphasize the growing importance of forensic accounting in the context of the Indian economy and global. It seeks to raise awareness about the crucial role that forensic accountants play in promoting transparency and accountability, which are essential for the economic development of India. The findings and data presented in this paper are based on secondary sources. In addition to highlighting notable financial scandals, the paper proposes a basic framework and methodology for conducting forensic accounting. With the increasing frequency and scale of financial scams in India, particularly in the government and public sectors, there is an urgent need to implement forensic auditing as a mandatory practice. Traditional statutory audits often lack the depth and investigative rigor required to detect sophisticated financial misconduct. Therefore, integrating forensic accounting into the auditing framework can significantly strengthen the fight against corruption and enhance the integrity of financial systems—contributing to the broader development goals of emerging economies like India.

Keywords

Auditing, Corporate Frauds & Scams, Forensic Accounting, Forensic Accountant, White - collar crimes.

Citations

IRE Journals:
Dr. Lalita Babulal Malusare "Forensic Accounting and Corporate Fraud: Lessons from India and the World" Iconic Research And Engineering Journals Volume 9 Issue 2 2025 Page 124-133

IEEE:
Dr. Lalita Babulal Malusare "Forensic Accounting and Corporate Fraud: Lessons from India and the World" Iconic Research And Engineering Journals, 9(2)