The Forensic Audit Global Market Report 2020-30 by The Business Research Company describes and explains the global forensic audit market and covers 2015 to 2020, termed the historic period, and 2020 to 2025, termed the forecast period, along with further forecasts for the period 2025-2030. The report evaluates the market across each region and for the major economies within each region.
The Forensic Audit Global Market Opportunities And Strategies Report covers forensic audit market drivers, forensic audit market trends, forensic audit market segments, forensic audit market growth rate, forensic audit market major players, and forensic audit market size.
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The forensic audit market report focuses particularly on identifying the trends, opportunities, and strategies that can lead to success. O&S reports are available off the shelf and can be delivered to clients on the day of purchase.
Forensic Audit Global Market Opportunities And Strategies Report is the most comprehensive report available on this market and will help gain a truly global perspective as it covers 60 geographies. The chapter on the impact of COVID-19 gives valuable insights on supply chain disruptions, logistical challenges, and other economic implications of the virus on the market. The chapter also covers markets which have been positively affected by the pandemic.
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Trends in the market include:
Enabling Improved Governance And Conduct-
Forensic audit are becoming frequent and widespread in banks and large corporations for improved governance and smooth conduct of operations. Public sector and private sector banks perform forensic audits to detect the accounts which have the potential to become non-performing assets (NPAs) and also to identify any frauds in these accounts. For instance, the Government of India has made mandatory for all the state-run banks to perform forensic audits to identify all possible NPAs. Large corporations are also conducting frequent forensic audit and background checks to ensure that their potential CEOs and other top executives have clean track records. These are performed by forensic audit firms or executive search firms that conduct forensic background checks. In 2018, EY was appointed by an Indian multinational company to conduct a forensic audit and background check on its potential candidate for CEO. The forensic audit report submitted by EY found that the CEO candidate of the company had a track record of fraudulent dealings.
Use Of Social Media Analytics In Forensic Audits-
Forensic audit companies are using social media analytics to detect frauds. Social media analytics is an application for gathering data from social media websites by analyzing posts, chats and profiles of members to form meaningful insights for making decisions. Forensic audit firms use this tool to detect frauds and crimes generated on social media. For instance, EY uses social media analytics to identify unique frauds in social media.
The market is segmented:
By End-Use Industry –
1. Financial Services
2. Mining, Oil & Gas
3. Manufacturing
4. Healthcare
5. Other Services
6. Others
By Type of Investigation –
1. Event and Data Analytics
2. Regulatory Investigations
3. Cross Border Investigations
4. Corruption and Bribery Investigation
5. Accounting Malpractice, and Securities Investigations
6. Other Forensic Audit
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