The Management Accountant - October 2024

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4 The Management Accountant - October 2024

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Contents

Inside

October 2024

OCTOBER VOL 59 NO.10 `100

Cover Story

FORENSIC AUDIT AND

THE ROLE OF COST ACCOUNTANTS ....... 17

FORENSIC AUDIT AND CORPORATE

GOVERNANCE: A STEP BEYOND TRADITIONAL AUDITING

SYSTEM AND SYNERGISTIC ROLE OF ARTIFICIAL INTELLIGENCE ....... 20

COST & MANAGEMENT ACCOUNTANTS:

CORPORATE PARTNER AS FORENSIC PROFESSIONAL - FORENSIC AUDIT:

A STEP AHEAD ....... 26

ANOMALOUS DETECTION IN GST COLLECTIONS:

A FORENSIC ANALYSIS USING BENFORD'S LAW ....... 28

FORENSIC AUDIT:

THEORETICAL INSIGHTS AND PRACTICAL APPLICATIONS ....... 32

LOCKING FINANCIAL DEPLETION BY UNLOCKING FRAUDS USING FORENSIC

AUDIT: A LYNCHPIN ....... 36

HARNESSING AI IN FORENSIC AUDIT:

EXPANDING OPPORTUNITIES FOR CMAs ....... 43

LENDING THROUGH ‘DIGITAL FOOTPRINTS’ NEW MODEL FOR MICRO, SMALL &

MEDIUM ENTERPRISESCREDIT APPRAISAL PROCESS OF BANKS ....... 48

BEYOND INTERNAL AUDIT:

THE ADVANCED SCOPE OF FORENSIC AUDITING ....... 51

FORENSIC ACCOUNTING & INVESTIGATION –

ON PAYROLL COSTS ....... 58

AUDIT THROUGH ARTIFICIAL INTELLIGENCE TOOLS ....... 61

FINANCIAL FRAUDS AND CYBER CRIMES IN INDIA ....... 63

ROLE OF ‘DIGITAL FOOTPRINTS’ IN BUSINESS ....... 68

APPLICABILITY OF FORENSIC AUDIT TO DIFFERENT INDUSTRIES ....... 73

FORENSIC AUDITS ....... 77

FORENSIC AUDIT: A STEP AHEAD OF INTERNAL AUDIT ....... 81

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