What is the main difference between forensic accounting and auditing?
Answers
Auditing is specifically checking to see if the accounts and/or systems conform to a pre-defined set of specifications (GAAP in this example, but there are all sorts of audits).
Forensic
Auditing is designed to provide an overall opinion on financial reporting in some form, but limited review for particular issues, particularly "negative" issues, and do not involve detailed specific analyses.
Forensic accounting is much more detailed and focused, particularly to fully understand a specific issue or family of issues, and often used in resolving disputes, including litigation support.
Auditing simply means the opinion of Independent auditors on preparation of financial statements by the
Forensic accounting simply means effective evidences gatther by auditors which "suitable for use in a court of law" and mostly used by govt. agencies.