Forensic Accounting's Crucial Role in Safeguarding the Integrity of India's Banking Sector

Abstract

The increased use of technology in practically every industry has led to an increase in the complexity of scams. Authorities and corporate leaders face substantial difficulties as a result of the increased difficulty in preventing fraud and other risks. In order to help businesses better manage risk, control, and governance practises while also preventing fraud and accomplishing their goals, forensic accounting has become necessary due to the surge in frauds and hazards brought on by modern technology. Investigative and accounting-based forensic accounting is a technique for identifying and preventing financial crime. Forensic accounting procedures are used to conduct investigations into allegations of fraud, which involve gathering evidence, speaking with witnesses, creating reports, and testifying. Forensic accounting ought to be used while discussing financial catastrophes and the surge in commercial fraud. In all types of economic contexts, forensic accounting offers investigation and litigation support services. A new study focuses on forensic accounting in India. This study demonstrates that forensic accounting lowers fraud in India's banking industry. This conceptual study's compilation used both primary and secondary sources.