About: Forensic Accounting and Investigation Standards by ICAI

Forensic Accounting and Investigation Standards by ICAI are a set of Forensic Accounting and Investigation Standards issued by The Institute of Chartered Accountants of India (ICAI) for preventing the rising issues of accounting, financial and loan irregularities. The standards are designed to be helpful for banks, regulators, corporate entities, and enforcement agencies such as the Economic offense Wing, Enforcement Directorate, Serious Fraud Investigation Office, Central Bureau of Investigation and Reserve Bank of India (RBI) and users of these reports on standardising the activities and to highlight the fundamental principles to be followed by members while auditing and acts as performance benchmarks. The standards lays down the primary qualitative measures for conducting investigations