Mapping the Awareness and Adoption of Forensic Accounting in India: An Empirical Study

AUTHOR
Meenu Gupta *
Rekha Gupta **

KEYWORDS
Corporate Frauds, Forensic Accounting, Forensic Audit, Corporate Debt Restructuring, Fraud Risk Management

ABSTRACT
Corporate frauds present a significant threat to the economy and are often identified only after the company has collapsed. The increasing incidence of financial fraud, corporate scandals, and regulatory scrutiny has underscored the critical role of forensic accounting in ensuring transparency and accountability in India’s financial ecosystem. Despite its growing importance, the level of awareness and adoption of forensic accounting remains unclear across different professional and academic segments. This empirical study aims to map the awareness and adoption of forensic accounting among four key stakeholder groups in India: practitioners, academicians, corporate professionals, and students. Using a questionnaire distributed to over 500 respondents across these groups, the study captures insights into their understanding, practical application, and perceptions of forensic accounting. The data is analysed using both descriptive and inferential statistical techniques to identify trends, correlations, and significant differences among the groups. Findings indicate varying levels of awareness, with practitioners and academicians generally more familiar with the concept than students and corporate professionals. Adoption in practice and curricula remains limited, often hindered by a lack of training, institutional support, and standardized frameworks. The study concludes with targeted recommendations to bridge the knowledge-practice gap, including curriculum integration, professional training, and policy-level initiatives to promote forensic accounting as a vital tool in India’s fight against financial crime.