forensic audit


An audit whose purpose is to use accounting procedures to collect evidence for the prosecution or investigation of financial crimes such as theft or fraud. Forensic audits may be conducted to determine if wrongdoing occurred, or to gather materials for the case against an alleged criminal.

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It was a forensic audit and I knew that had bad news written all over it because it would be used in prosecution, or investigation.

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After an unusual jump in reported profits, it became apparent to governing entities that a forensic audit was required to verify the claims of wrongdoing and tampering leveled by the concerned board member.

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The forensic audit turned up a number of irregularities in their accounting and a complete disregard for regulation as it pertained to sales of the penny stocks in question.

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