Fraud Risk Assessment & Control Review
Assess financial, operational and governance risks, controls and fraud exposure.
RISK, FORENSICS & INVESTIGATIONS
Fraud Risk & Forensic Review
Identifying fraud exposure. Examining financial irregularities. Strengthening corporate integrity.
FRAUD RISK & FORENSIC REVIEW
Fraud Risk & Forensic Review in India
Astronis Global provides integrated legal, regulatory and business advisory for fraud risk assessments, forensic reviews, suspected financial irregularities and corporate misconduct across India. We assist organisations in identifying fraud vulnerabilities, reviewing suspicious transactions, preserving evidence, coordinating forensic examinations, assessing legal exposure and implementing corrective governance measures.
A fraud risk and forensic review examines potential vulnerabilities, unusual transactions or suspected misconduct using a defined and evidence-led scope. The approach depends on the organisation's operations, available records, allegations, relevant stakeholders and any legal or regulatory obligations.
OUR SERVICES FOR FRAUD RISK & FORENSIC REVIEW
Our Fraud Risk & Forensic Review Services
Integrated advisory for fraud risk assessment, financial irregularity review, forensic coordination and governance strengthening.
Financial Irregularities & Transaction Review
Review suspicious payments, accounting anomalies, fund movements and related-party transactions.
Forensic Accounting & Evidence Coordination
Coordinate financial records, forensic accounting, financial reconstruction and evidence review.
Corporate Misconduct & Internal Fraud Review
Assess allegations of employee fraud, procurement irregularities, asset diversion and related misconduct.
Regulatory Exposure & Investigation Advisory
Legal assessment of suspected fraud, reporting obligations and regulatory interactions.
Fraud Remediation & Governance Strengthening
Develop corrective action plans, internal control improvements and ongoing advisory support.
KEY BENEFITS
Why is fraud risk review necessary?
A fraud risk and forensic review examines potential vulnerabilities, unusual transactions or suspected misconduct using a defined and evidence-led scope. The approach depends on the organisation's operations, available records, allegations, relevant stakeholders and any legal or regulatory obligations.
Considered for your next chapter.
Detect fraud vulnerabilities early
Review processes and transactions to identify potential exposure and areas for further assessment.
Prevent financial losses
Identify control gaps and support proportionate safeguards against avoidable financial harm.
Strengthen internal controls
Assess existing controls and recommend practical improvements suited to identified risks.
Ensure regulatory compliance
Consider applicable legal, regulatory, reporting and governance obligations.
Support board oversight
Present findings and priorities to appropriate management, board or audit committee stakeholders.
Build a data-led culture of trust
Support transparent records, accountable processes and informed decision-making.
BUSINESS STRUCTURE & TAXATION ASPECTS
A practical fraud risk and forensic framework
A fraud risk and forensic review examines potential vulnerabilities, unusual transactions or suspected misconduct using a defined and evidence-led scope. The approach depends on the organisation's operations, available records, allegations, relevant stakeholders and any legal or regulatory obligations.
- Risk and allegation assessment
Understand the concern, business process, potential exposure and relevant review priorities.
- Data, records and transaction scope
Identify relevant financial, operational and digital records for a proportionate review.
- Independent review and specialist coordination
Coordinate legal, forensic accounting and other specialist input appropriate to the issues.
- Legal and regulatory assessment
Consider potential legal exposure, reporting obligations and any authority engagement.
- Findings and remediation
Present findings and support corrective measures, control improvements and follow-up monitoring.
Clarity for what comes next.
COMPARATIVE ANALYSIS
Fraud Risk Assessment & Forensic Review
The appropriate approach depends on whether the objective is prevention, investigation or legal assessment. These comparisons are general and the scope should be tailored to each matter.
Fraud Risk Assessment vs Forensic Review
| Parameter | Fraud Risk Assessment | Forensic Review |
|---|---|---|
| Primary purpose | Identify potential fraud risks | Examine specific concerns or allegations |
| Scope | Processes, controls and risk areas | Detailed transaction and evidence review |
| Conducted by | Risk, compliance and legal advisors | Independent forensic specialists |
| Output | Risk assessment and recommendations | Forensic findings report |
| Typical use | Preventive governance | Suspicion-based investigation |
Internal Audit vs Forensic Accounting vs Legal Review
| Parameter | Internal Audit | Forensic Accounting | Legal Review |
|---|---|---|---|
| Main objective | Assess controls and compliance | Analyse financial data and reconstruct transactions | Evaluate legal consequences |
| Focus | Systems and procedures | Financial evidence | Law, evidence and exposure |
| Output | Audit findings | Technical report | Legal assessment |
| Role | Internal auditors | Forensic accountants | Legal counsel |
| Best suited for | Ongoing control review | Specific concerns or disputes | Regulatory or litigation readiness |
A forensic review is scoped to the records and issues agreed for examination; it does not by itself determine criminal liability or guarantee a particular outcome.
FRAUD RISK & FORENSIC REVIEW PROCESS
A seven-stage review from assessment to remediation
A structured process supports evidence-led examination while keeping the scope and response clear. Timelines depend on records, transaction volume, locations and agreed review objectives.
- 01
Initial Assessment
Identify concerns, assess risks and define objectives, stakeholders and immediate priorities.
- 02
Planning & Mandate
Define scope, independence, methodology, records, reporting and evidence handling.
- 03
Evidence Collection
Preserve and collect relevant financial, operational and digital records.
- 04
Forensic Examination
Analyse transactions, records and controls, coordinating specialists where required.
- 05
Findings & Legal Review
Assess results, potential exposure and relevant legal or regulatory implications.
- 06
Remediation Planning
Recommend corrective action, control improvements and governance measures.
- 07
Ongoing Advisory
Support implementation, monitoring and updates to the organisation's risk framework.
DOCUMENTS & REQUIREMENTS
Documents required (illustrative)
The information required depends on the concern and review scope. Typical starting materials include:
- Financial statements and accounting records
- Bank statements and transaction records
- Purchase orders, invoices and payment vouchers
- Vendor and related-party transaction records
- Payroll and employee payment records
- Internal control policies and approval matrices
- Board and committee documents
- Relevant emails and digital records
- Prior audit, investigation or risk reports
- Contracts, reconciliations and supporting schedules
PROFESSIONAL FEES
Fees aligned to your review scope
Fees depend on the nature of the concern, transaction volume, records available, locations, specialist involvement, urgency and reporting requirements.
Fraud Risk Assessment
By scope- Initial concern and risk discussion
- Review of key controls and records
- Preliminary exposure assessment
- Prioritised recommendations
Forensic Review & Advisory
Tailored- Defined review mandate and methodology
- Transaction and evidence review coordination
- Forensic specialist engagement as scoped
- Findings report and legal risk assessment
- Remediation and governance support
Complex or multi-entity reviews
Request a tailored scope for multiple entities, extensive transaction populations, specialist forensic accounting or related regulatory response.
Get a QuoteExternal specialist costs and other third-party charges are separate where applicable. Findings depend on the available evidence, agreed scope and applicable requirements.
KEY FEATURES
Key forensic review considerations
Clear mandate and review objectives
Financial and operational risk areas
Evidence preservation and access
Transaction and related-party review
Independent specialist coordination
Legal and regulatory assessment
Reasoned findings and reporting
Corrective action and monitoring
FREQUENTLY ASKED QUESTIONS
Browse all FAQs A few useful answers
Answers to common questions about fraud risk assessments and forensic reviews.
What is a fraud risk assessment?
How is a forensic review different from an internal audit?
When should an organisation consider a forensic review?
Does a forensic review establish criminal liability?
How long does a forensic review take?
How should relevant records be preserved?
Can Astronis assist with remediation after the review?
TESTIMONIALS
Clear advice. Practical direction.
Perspectives shared with permission by clients of our advisory teams.
Astronis Global brought clarity and commercial focus to a complex restructuring exercise. Their advice was practical, timely and easy for our leadership team to act on.
The team understood our regulatory requirements quickly and helped us move forward with confidence. We valued their responsiveness and disciplined follow-through.
Astronis Global provided dependable support across multiple registrations and approvals. Their communication was clear, structured and consistently professional.
INSIGHTS & EVENTS
View all insights Latest Articles, Updates and Events
KNOWLEDGE CENTRE
Guides, checklists and templates
Explore resources to help organise your formation planning.
GUIDE
Fraud Risk Legal Framework Guide
Explore resource GUIDEForensic Accounting Guide
Explore resource CHECKLISTEvidence Preservation Guide
Explore resource PROTOCOLCorporate Fraud Investigation Guide
Explore resource GUIDERegulatory Reporting Guide
Explore resource CHECKLISTFraud Risk Checklist
Explore resourceYOUR NEXT CHAPTER STARTS HERE
Identify and Mitigate Fraud Risks with Independent Review
From risk assessment and transaction analysis to forensic coordination, regulatory advice and remediation, strengthen financial integrity and governance.
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