Home / Companies / News / Business booms for forensic auditors as firms head to bankruptcy court

Business booms for forensic auditors as firms head to bankruptcy court

The forensic business linked to the IBC has more than doubled in the past few months, and experts believe it will only increase

Experiencing the IBC: Mandatory schedules should not be diluted

Premium

Last Updated : Jan 23 2018 | 2:20 AM IST

Forensic departments of large audit firms and independent investigation agencies have been inundated with requests for forensic work following the push to clean up the bad debt mess under the Insolvency and Bankruptcy Code (IBC).

According to some estimates, the forensic business linked to the IBC has more than doubled in the past few months, and experts believe it will only increase. The work primarily includes doing background checks on promoters, asset searches, verification of creditors, and forensic monitoring of cash flows. For big accounting firms, this is the icing on the cake as they are already working on bankruptcy

What you get on BS Premium?

Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
Pick your 5 favourite companies, get a daily email with all news updates on them.
Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
Preferential invites to Business Standard events.
Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.

VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in