Answer to Question #160438 in Management for kirrtu

Question

Compare and contrast forensic probe and forensic investigator with their counterparts the so called regular company audit and company auditors. Also explain why there is a need for forensic probe and forensic investigators in the case of the 1MDB. 

Answer 1

Forensic probe and forensic investigators

Both professionals handle financial evidence but differ in techniques, methods, and tools used in the procedure. A forensic audit has the concept of ensuring an accurate and fair view of financial statements. Contrary to the forensic investigation is the actual evidence to be represented in a law court. The main difference between forensic probe and forensic investigators is the aim of the audit. The forensic

probe associates directly with financial statement fraud. contrary to forensic investigators requires investigation techniques and technology. The forensic audit is complicated since they answer questions such as who executed fraud and the losses. Whereas the forensic investigators inspect financial transactions and compel information to use in the court of law.

Reasons for forensic probe and forensic investigators on 1MDB cases

The 1MDB needs intensive forensic probe with worldwide cooperation from regulatory agencies and investigation abroad. Forensic audit investigations could help to confirm various types of illegal activities in 1MDB audit scandals. The forensic audit investigation is best used in 1MDB since most audit cases require shreds of evidence to be used in court.