Problems on Implementing Forensic Accounting – Indian Context

Frauds and losses appearing in the financial performance have a negative impact on the financial reporting. The users and economic decision makers lose their trust in the accounting and auditing profession itself when these phony reporting takes place, which lead to the need of investigation in these fields and this grounds the naissance of Forensic accounting. In Indian context the need for forensic accounting developed because of the increase in white collar crimes such as Satyam, common wealth games, etc. Giving attention to the fact which is unnoticed that the benefits of forensic accounting outnumbers its shortcomings we have stumbled on writing this article. Throughout this article, we have tried to mention the unseen demand of forensic accountant and their services; we have even tried to list down the problems that will be faced by the accounting firms for implementing this service and the techniques used by the forensic accountant for the detection of frauds in brief.