Forensic audit definition

Forensic audit means the presentation of information in the form of a financial statement that is performed in accordance with the Statements on Standards for Accounting and Review Services issued by American Institute of Certified Public Accountants by a certified public accountant licensed or with practice privileges in Maryland pursuant to Title 2 of the Business Occupations and Professions Code that is prepared in accordance with the Professional Standards of the American Institute of Certified Public Accountants, and in the case of a publicly owned corporation in conformity with the standards of the Public Company Oversight Board, of
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Forensic audit means an audit conducted in a scientific fashion and in greater depth and specificity than the annual independent audit required by N.J.S.A. 18A:23-1, which is sufficiently thorough and complete so that an accountant, in his or her independent professional judgment, can deliver a finding as to accounts, inventories, or the presentation thereof that is of such high quality that it would be sustainable in an adversarial legal proceeding, or judicial or administrative review.]
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Forensic audit means audit aiming at prevention and detection of irregularities, such as fraud, embezzlement and corruption, and application of auditing skills to situations that have legal consequences; "generally accepted accounting principles" means accounting principles and procedures recognized by accounting professional bodies as appropriate for reporting financial information relating to Government,
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Examples of Forensic audit in a sentence

  • Forensic audit revealed manipulation in the books of account by the company.

  • An exploratory study, it primarily highlights the causes of NPAs in banks during appraisal, sanction and disbursal and post disbursal stage and the role of Forensic audit in controlling NPAs. Data was collected through survey sampling and information was obtained through Questionnaire.

  • Provide information on your company’s history, background, number of years the company has been in business, list of owners, names and titles of the board of directors (if applicable), mission statement, organization summary.

  • The data submitted by the successful bidder, in compliance of the above eligibility conditions shall be subject to verifications by IRCTC itself or through an agency (expert in Forensic audit) appointed by IRCTC, for which all necessary documents shall have to be essentially provided by the bidder, if so required.

  • Initiation of Forensic audit: In case of initiation of forensic audit, (by whatever name called), the following disclosures shall be made to the stock exchanges by listed entities:a) The fact of initiation of forensic audit along-with name of entity initiating the audit and reasons for the same, if available; b) Final forensic audit report (other than for forensic audit initiated by regulatory/enforcement agencies) on receipt by the listed entity along with comments of the management, if any.

  • Section 4 of P.L.2006, c.15 (C.18A:7A-57) is amended to read as follows: C.18A:7A-57 Forensic audit of certain school districts; presentation.

  • Forensic audit is generally arranged by lenders with wide scope of work that includes end use of funds made available to corporate debtor.

  • They were also asked about the role/importance of Forensic audit in reducing/controlling NPAs in Banks.

  • They were also asked about the role/importance of Forensic audit in reducing/controlling NPAs in Banks.The data was analyzed and percentages were computed to quantify the weight of the variables.

  • Forensic audit was conducted to ascertain the reasons for account turning bad and as such the branch initiated Audit by appointing a CA firm to conduct the same.


More Definitions of Forensic audit

Forensic audit means audit aiming at prevention and detection of irregularities, such as fraud, embezzlement and corruption, and application of auditing skills to situations that have legal consequences;
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Forensic audit means the use of accounting methods to collect
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Forensic audit means an examination and evaluation of financial in formation of an institution or an individual;
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Forensic audit means an audit conducted in a scientific fashion and in greater depth and
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Forensic audit means the forensic audit to be carried out by Qualified Consultant(s) in accordance with the Order and described in more detail in Section 2.7.4 of the Order.
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Forensic audit means an examination and evaluation of a Entity's or individual's
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Related to Forensic audit

  • Auditor means the person for the time being performing the duties of auditor of the Company (if any).

  • Forensic analysis means the practice of gathering, retaining, and analyzing computer-related data for investigative purposes in a manner that maintains the integrity of the data.

  • Audit means the examination of a person or the inspection of the books, records, memoranda, or accounts of a person, ordered to appear before the Tax Administrator, for the purpose of determining liability for a municipal income tax.

  • Independent Auditor has the meaning specified in subsection 7.01(a).

  • Neutral Auditor means Ernst & Young or, if Ernst & Young is unable to serve, an impartial nationally recognized firm of independent certified public accountants other than Seller’s accountants or Purchaser’s accountants, mutually agreed to by Purchaser and Seller.

  • Independent Auditors has the meaning set forth in Section 3.2.

  • non-audit services means services other than audit services;

  • Accountant A Person engaged in the practice of accounting who (except when this Indenture provides that an Accountant must be Independent) may be employed by or affiliated with the Issuer or an Affiliate of the Issuer.

  • Independent testing laboratory means an independent organization, accepted by the Contracting Officer, engaged to perform specific inspections or tests of the work, either at the site or elsewhere, and report the results of these inspections or tests.

  • Company’s Auditors means an independent firm of accountants duly appointed as auditors of the Company;

  • Initial Audit is Bank’s inspection of Borrower’s Accounts, the Collateral, and Borrower’s Books, with results satisfactory to Bank in its sole and absolute discretion.

  • cost accountant means a cost accountant as defined in clause (b) of sub-section (1) of section 2 of the Cost and Works Accountants Act, 1959 (23 of 1959) and who has obtained a certificate of practice under sub-section (1) of section 6 of that Act;

  • Company Auditor means Xxxxx Xxxxx US, LLP (FKA: Xxxxx Xxxxx Xxxxxxx Xxxxxx, LLP), with offices located at 000 Xxxxx Xxxxx Xxxxxx, Xxxxx 0000, Xxxxxxxxxxx, XX 00000-0000.

  • Independent Accountant has the meaning set forth in Section 2.04(c)(iii).

  • Approved Auditor means a person who is:

  • Energy audit means a systematic procedure with the purpose of obtaining adequate knowledge of the existing energy consumption profile of a building or group of buildings, an industrial or commercial operation or installation or a private or public service, identifying and quantifying cost-effective energy savings opportunities, and reporting the findings;

  • the Auditors means the auditors from time to time of the company or, in the case of joint auditors, any one of them;

  • Independent Accounting Firm has the meaning set forth in Section 2.05(c).

  • Testing laboratory means a laboratory, facility, or entity in the state that offers or performs tests of cannabis or cannabis products and that is both of the following:

  • qualified auditor means a person who is qualified to be appointed as an auditor under section 198;

  • Environmental Audit means, with respect to each Property, a Phase One environmental site assessment (the scope and performance of which meets or exceeds the then most current ASTM Standard Practice E1527 for Environmental Site Assessments: Phase One Environmental Site Assessment Process) of such Property.

  • Corporation’s Auditors means such firm of chartered accountants as the Corporation may have appointed or may from time to time appoint as auditors of the Corporation, including prior auditors of the Corporation, as applicable;

  • Independent Evaluator A person empowered, pursuant to Section 23.5 (Failure to Reach Agreement) and Section 23.10 (Dispute) of this Agreement, to resolve disputes due to failure of the Parties to agree on a Performance Standards Revision Document.

  • conformity assessment body means a body that performs conformity assessment activities including calibration, testing, certification and inspection;

  • Audits means the audits and reviews carried out by the Bank or the Bank’s auditors, experts and insurers, as the case may be in accordance with the terms and conditions set out in Section 18.

  • Accountants’ Report means the report of a firm of nationally recognized Independent Accountants described in Section 4.11.