When a business suspects financial fraud, corruption, forgery, or any other anomalies, it engages a forensic audit services company to look into the matter. It is not about finding something odd. It is about digging to find out what happened and what evidence supports that theory. A forensic audit closely looks at the transactions, supporting documents, internal controls, and other processes to see where things have gone wrong. With years of accounting and audit experience, Excellence's forensic audit team traces financial records and collects evidence based on which management can take appropriate actions.  

What Forensic Auditing Services Include

The nature and extent of a forensic audit depend on the nature of the suspected irregularity. Audits may not be comprehensive but instead focus on the areas where problems may be found based on the initial inquiry or suspicion.

  • Financial transactions

    Transactions can be followed from the books to the bank accounts and supporting documents to see where the money came from and where it went.

  • Procurement

    The procurement processes can be reviewed for fictitious vendors, inflated invoices, conflicts of interest, unusual purchasing patterns or unapproved purchases.

  • Payroll

    The payroll records are also verified to identify ghost workers and fictitious staff. A detailed check helps us detect any duplicate payments and unauthorised allowances & overtime.

  • Revenue

    Testing may be done to verify that amounts due to the entity are indeed realized and that supporting documents are available and that the receipts are correctly recorded in the books in the period in which they were earned.

  • Expenses

    Expense records are checked to look for any duplicate or unauthorised payments and personal expenses. The process also flags payments that don't have proper supporting documents or expenses that contradict the nature of operations.

  • Assets

    Physical assets verification is done and compared with the inventory data in the books to find potential gaps, such as missing or stolen, unrecorded property, equipment, and vehicles.

  • Digital Records

    Where applicable and where permissible, digital records may be examined, including emails, to determine if any information in electronic form may be used to prove the suspicions.