New Delhi [India], September 29 (ANI/SRV Media): It was in Oct-2018 that SEBI released a press note on-boarding 9 firms for Forensic Audit that included one from the Big 4.
Few firms were expected to make it to the prestigious panel, but a handful were not even anticipated.
One such Indian-origin firm was Pipara & Co. LLP. Since then, there was no looking back for Pipara & Co LLP, who went on to get enrolled with Serious Fraud Investigation Office (SFIO), CBI, NHB, etc. It has been quite a journey for Pipara & Co LLP since their inception in 1982.
Today they stand a firm ground despite all odds that came their way while trying to uncover the lid on serious frauds.
As per Namann Pipara, Partner at Pipara & Co LLP, "We have always been driven by values since our firm's inception by our founding partner & my father, G. C. Pipara, four decades ago. No doubt Forensic Audit seemed like tricky waters when I wanted to join and grow this domain, but our experience of working with the Economic Offences Wing (EOW) and Commissioner of Police for complex and large frauds gave us the required expertise and understanding. With a 100% success rate with our Forensic engagements, a large part of our 200+ team is dedicated to this vertical of our practice. If we track the last decade's market updates, we get to know that grave financial crimes were committed that manipulated the system and required in-depth analysis to help identify and prevent their recurrence. We hope to see the firm lead in Forensic Investigations domain globally."
With ballooning issues related to financial frauds, Forensic Audit has been much in demand as it requires a combined skill-set of Accounting, Audit & Legal Investigative Skills to detect fraud embezzlement cases. Mostly the party to frauds are powerful entities who would even resort to all sorts of pressure tactics to get them unnoticed.
With more Indian accounting firms vying for a larger space in this specialized segment, it is estimated that demand for them shall see close to a 300% rise in the next 2 years itself. The task also requires higher legal responsibility compared to regular accounting.
CA Namann Pipara has not only strengthened his hold in Forensic Audit but is actively good at tapping first-mover opportunities that include co-founding India's leading legal tech company Legal Wiz in 2015. He believes that as per the evolving business landscape, one may find ample opportunities for disruptive startups in the FinTech space further. Pipara & Co LLP has recently expanded its operations to the United States of America, being amongst the handful of Chartered Accountants from India to have a global presence.
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