The Role of Auditing in Detecting Financial Irregularities: A Case Study on Some Recent Accounting Scandals

Year 2024
Volume/Issue Volume - VII, Issue - I
Title The Role of Auditing in Detecting Financial Irregularities: A Case Study on Some Recent Accounting Scandals
Authors Dr. Sanjay Kumar Lenka , Mrs. Priyanka Jena
Broad area Financial Irregularities & Role of Auditing.
Abstract The aim of this research is to investigate the critical role played by auditing in detecting financial irregularities, with a focus on recent accounting scandals as case studies. By employing a case study methodology, this study explores the effectiveness of auditing practices in identifying and addressing financial irregularities. Ten notable accounting scandals from recent years were selected as cases, based on their significance and attention from regulatory and legal authorities. The chosen cases include The Akasa Air accounting scandal, The Bharat Pe accounting scandal, The Vedanta accounting scandal, Amtek Auto accounting scandal, Nirav Modi Scam, ABG Shipyard Scam, DHFL-Yes Bank Scam, IL&FS Scam, DHFL accounting scandal, and Karvy Stock Broking. Through in-depth analysis of these cases, the study seeks to uncover vulnerabilities in financial reporting systems and underscore the need for stringent auditing procedures to safeguard the interests of stakeholders. The findings from this research will provide valuable insights for regulators, auditors, and organizations to strengthen financial governance and mitigate risks associated with financial irregularities. By understanding the effectiveness of auditing practices in detecting irregularities, this study contributes to the ongoing efforts to enhance transparency, accountability, and integrity in financial reporting. Furthermore, it offers valuable lessons for the design and implementation of future auditing practices to ensure the credibility and reliability of financial information in the corporate world.
Description The Role of Auditing in Detecting Financial Irregularities: A Case Study on Some Recent Accounting Scandals
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