The process of a forensic audit involves several stages:
Planning: Define the scope and objectives of the audit, identify key areas of concern, and develop a strategy. Data Collection: Gather financial records, emails, contracts, and other relevant documents. Data Analysis: Use forensic tools and techniques to analyze the data, identify patterns, and detect anomalies. Investigation: Conduct interviews, follow the money trail, and corroborate findings with physical evidence. Reporting: Prepare a detailed report outlining the findings, supported by evidence, and recommend corrective actions. Legal Proceedings: Provide expert testimony if the findings lead to legal action.