Investigative & Internal Audit Services

Investigative & Internal Audit

Harshad Mehta Stock Scam of 1992

The firm had been appointed by The Special Court (TORTS) Act, 1992 to carry out the audit of the accounts of one of the notified group consisting of seven entities where the transactions under review run into several thousand crores of rupees and transactions were of highly complex nature.

We have also been appointed to make realistic assessments of the assets and liabilities of the various entities of Harshad S. Mehta group.

Apart from the above stated assignments, we are involved in providing consultancy to the Custodian Office on various matters.

Our consultancy job includes advising on typical matters such as:

On the behest of the Custodian Office, we had also undertaken investigation of the whereabouts of more than 300 companies and their respective management, assets and net worth. These companies were incorporated and registered throughout the country.

UN Assisted Project - NERCRMP

Recently a partner of the firm has been given a special assignment by the International Fund for Agriculture Development (IFAD) to examine the financial irregularities in the project called North Eastern Region Community Resource Management Project (NERCRMP) funded by them. The scope of work was to examine the systems of financial checks and internal controls prevailing in the regional society and to make recommendations for modification, if required, from the view point of financial discipline; to assess the role of internal auditors in promoting a good financial management in the society and to review the procurement guidelines and financial manual of the project and to undertake test checks to see the extent of compliance with the same in the regional society.

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