Introduction Fraud is intentional deception made for personal gain or to damage another individual. Defrauding people or entities of money or valuables is a common purpose of fraud. The term ‘forensic ‘has usually attracted an unfortunate connotation with the morbid world of forensic medicine. Forensic accounting shares only one thread common with forensic…
It is a process of setting and developing the application, the computer system, built on the basis on business requirement. As an IS Auditor, the following could be reviewed: System Planning & Feasibility Audit: Every application is designed after considering the various areas of feasibility and the factors ranging from Economic, Cost Benefit Analysis, Technical…
The supply chain management encompasses all activities associated with the transformation of goods from the raw material stage to the final stage. It involves planning, design and control of the flow of material, information and finance. Why is SCM strategy important for an Organization? Supply Chain Strategies are the critical backbone to…
Purchasing – a high-risk area subject to fraud – where an organization spent a significant amount of its money and can heavily impact the company’s quality, Environmental & safety objectives & targets. It is the first and most basic nature of expenditure, that any manufacturing company is required to incur, which is in direct proportion…
Concurrent Audit – on the spot examination of transactions & activities at very frequent intervals to assure substantive checking in key areas rather than test checking. In the present scenario, risk-prone area to be covered under concurrent audit. After the recent Nirav Modi PNB Fraud and Vijay Mallya Case, a question has been put on…
1.Business Analytics Analytics is the study of analyzing data to derive business insights and tangible action steps.Business Analytics makes a distinction between relevant and irrelevant knowledge. Business Analytics is thus all about business relevancy, actionable insight, performance measurement and value measurement. 2.Types of Business Analytics Descriptive Analytics answers the questions: What has happened in…
Internal Audit improves internal business processes of the company by reviewing risk management plans and business procedures to identify flaws among these. It is an independent management function for appraisal of functioning of an entity with a view to suggest Improvements, add value and strengthen the overall governance mechanism of the entity. It is based…