Forensic Accounting (FA) is the study and evaluation of financial documents to gather evidence to establish any fraud or wrongdoing by a person / society / company / organization for committing fraud, embezzlement, cheating, misappropriation or any other financial or economic offences.
The common procedures adopted include critical analysis of financial procedures, retrieval of data from computer, examination of documents relating to accounting, auditing, followed by conducting interviews with the people associated besides investigation into the nature and circumstances that led to financial frauds using advanced computer software and hardware.
Truth Labs collaborate with businesses, creditors, and bankruptcy trustees to investigate possible fraud or mismanagement of assets in business bankruptcies or other situations involving economic losses. Also liaise with attorneys and clients to investigate cases of possible fraud or misappropriation of assets in divorce or other family disputes.
Truth Labs engages qualified team of forensic accountants who collects data on assets that have been transferred or concealed by an individual or business, investigate the claims to determine their validity, money laundering, follow the regulations of the Securities and Exchange Commission (SEC) and Finance Industry Regulatory Authority (FINRA) to investigate cases of possible securities fraud, work with the IRS and local government to investigate cases of possible tax fraud and etc.
Truth Labs undertook Forensic Audits to find possible risks and vulnerabilities in the existing systems of a few companies and carried out investigations in the banks, financial institutions, industries, business establishments and fraudulent insurance claims made by commercial organizations.
Truth Labs, the first independent forensic science laboratory in India set up in 2007 has successfully completed 16 years of service by having established labs in six metropolitan cities, Delhi, Mumbai, Kolkata, Bengaluru, Chennai and Hyderabad, and reporting over 25,000 cases referred by Supreme Court, 6 High Courts, besides Sessions and Subordinate Courts of over 15 states as well as major Central Police organizations like CBI, NIA, NCRB, CRDF, SSB, etc. & State Police organizations of over 18 states besides over 1000 cases from Central and State Govt. Depts., Banks, Insurance Companies, Lawyers & Law Firms, Corporates & MNCs and Common People from 25 states across the country.
It is a matter of great satisfaction to the Experts, Founder of Truth Labs, its Advisory and Management Board that about 50 percent of the cases referred to Truth Labs come from Courts, Police, and Government Departments showing the reputation and supreme status of Truth Labs across India.