One of the main differences between Financial Audit and Forensic Audit is that the Financial Audit gives the guarantee that the financial statements that have been checked are true and fair and are reasonable whereas, Forensic Audit helps to analyze and investigate a certain set of transaction, if any fraud has been occurred.
The goal of this project is to set the record straight as much focus have been on the Financial Audit as the Fraud Detector.
The questions are: 1. Who then is the Fraud Detector, a Financial Auditor or a Forensic Auditor?
2. Why are Financial Auditors liable if failed in their audit duty to detect fraud within an organization?
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