The Importance and Need for Forensic Audit in India to Detect Banking Frauds and Protect Investors Interest

Abstract

In recent years, there has been an increase in fraudulent operations in the financial and corporate sectors as a result of technical and digital innovation. As a result, the necessity of forensic audit in the current scenario is critical in detecting such frauds and protecting the interests of shareholders. As a result, the study attempted to determine the value of forensic audit in the current situation. The purpose of this study is to emphasize the importance and use of forensic audits. A systematic review of the literature was used as the study's approach. According to the conclusions of the study, forensic auditing is crucial in mitigating and avoiding financial fraud. Forensic auditing has established itself as a strategic tool for company success.