FORENSIC AUDIT
About Forensic Audit
From its initial terms, forensic involves evidence seeking. Forensic audit mainly involves financial transactions and records investigation over an alleged or suspected fact or activity.
Mismanagement of financial resources could potentially criple a business financial ground rendering it unabble to carry its day to day business activities. Hence, the situation must be looked into, identify who is responsible and remedy.
NWC is at the fore front and best placed to deliver to you a non-partisan and thorough forensic audit. We do not leave any stone unturned.
WHY CONDUCT FORENSIC AUDIT
Financial Statements
Businesses and organizations rely on the financial statements to make crucial decisions. These reports are generated by the accountant(s), auditor, or directors. The accounts reported are a reflection of the single most transactions including but not limited to sales, purchases, inventory, loans and others.
In any event any accounting stage is altered to reflect a false transaction, the whole financial report is affected resulting to presentation of defective statements and hence defective decisions by the statement user(s).
Though there are accounting standards set such as the International Financial Standards (IFRS) and accompanied by the financial reporting policies referred to as Generally Accepted Accounting Principles (GAAP), they are often ignored leading to misreporting.
To avoid and/or bring to book the person/group of persons involved in the malpractice, Forensic Audit is essential as it weeds out and brings to light all questionable transactions or reports.