Forensic Audit Services | UAE Forensic Auditors
Forensic audit refers to the process of examining financial transactions and records to identify any instances of fraud, embezzlement, misappropriation of assets, or other financial crimes. In the UAE, forensic audit services are offered by specialized firms that have professionals with expertise in accounting, finance, law, and investigative techniques .
Forensic audit services in the UAE include a range of services such as fraud investigations, forensic accounting, litigation support, anti-money laundering compliance, and risk assessments. These services are provided to a variety of clients, including companies, government agencies, and non-profit organizations .
Forensic auditors in the UAE use a range of techniques and tools to gather evidence, including data analysis, interviews, and document reviews. They also work closely with legal professionals to ensure that their findings are admissible in court, if necessary.
Who Initiates a Forensic Audit?
Various parties can initiate a forensic audit in the UAE, including company management, shareholders, regulators such as the SCA or the Central Bank, courts, and government agencies such as the Public Prosecution or the Ministry of Economy.
Steps while conducting a Forensic Audit
The steps involved in conducting a forensic audit can vary depending on the scope and nature of the investigation. However, some common steps include:
Define the scope of the audit, identify potential sources of evidence, and develop a plan for data collection and analysis.
2. Data Collection:
Collect relevant financial and non-financial data, including documents, electronic files, and interviews with relevant personnel.
3. Data Analysis:
Analyze the collected data to identify any inconsistencies or anomalies, and use forensic accounting techniques to uncover potential fraud or other financial irregularities.
Prepare a report summarizing the findings of the forensic audit, including any evidence of misconduct, and provide recommendations for remediation.
Work with legal counsel and law enforcement agencies as needed to provide expert support and testimony in legal proceedings.