A forensic audit is different from most audits in that it involves auditing, accounting, and investigating. Our forensic accountants engage in factual economic transactional analysis that requires a level of detail and precision for sustainability in legal proceedings or investigations. Forensic audits serve a valuable purpose for organizations seeking to identify and rectify control weaknesses and achieve management accountability for their stakeholders. Parker Meridian has conducted numerous forensic audits to facilitate claims recovery and verify instances of fraud.
The procedures followed for a forensic audit include analysis, investigation, inquiries, tests, and inspection of to obtain evidence from which to develop finding. The forensic audit also involves evaluating internal controls; interviewing staff in key roles within an organization; conducting electronic surveys or testing of computer records; and collecting, analyzing, and testing financial and other relevant information to determine misappropriation of funds, fraud, or falsification of records.