Definition of Forensic audit:
The application of accounting methods to the tracking and collection of forensic evidence, usually for investigation and prosecution of criminal acts such as embezzlement or fraud. Also called forensic accounting.
How to use Forensic audit in a sentence?
- After having thousands stolen from them, the company decided to perform a forensic audit to understand how they were able to get away with all this money.
- The attorneys for ABC Company recommended that a forensic audit be performed after a high level employee left the company under suspicious circumstances.
- The companys CFO is under suspicion of fraud, and currently going through a forensic audit in search of accounting evidence of criminal activity.
Meaning of Forensic audit & Forensic audit Definition