ICAI going to issue the FAIS (Forensic Accounting and Investigation Standards)
ICAI is proposing to come up with a package of Forensic Accounting and Inquiry Standards (FAIS), said on Tuesday by President Atul Kumar Gupta.
The new standards are expected to be ready by the end of December, numbering around 30 and will go a long way in raising the quality benchmark of forensic commitments, Gupta told a virtual press conference.
President Atul Kumar Gupta also said FAIS would be obligatory for CA Institute members and non-adherence would prompt disciplinary action. Even if a non-audit foreign company performs the forensic audit and inquiry, any employee of the CA Institute who signs the report will be expected to obey the FAIS, Gupta explained.
"We'll be directed by who signatures the report of the forensic investigation and not by the company," he said.
FAIS would also be helpful to law enforcement authorities, companies, banks, and other stakeholders to understand standard standards and finer aspects in performing forensic accounting and inquiry commitments, he added.
The CA Institute will be the first organization to create a full set of FAIS criteria for forensic professionals and stakeholders in the accounting world, he added.
The suggested guidelines would help Forensic Accounting and Investigation practitioners perform their tests in a highly competent way and obtain information that could be subject to a high degree of review in a court of law, Gupta said.
The Forensic Accounting and Investigation Experts will be able to audit and contribute to judicial proceedings as experts with the help of FAIS. Also, stakeholders like the ED, CBI, SFIO, EOW, RBI Others are gaining greater confidence in their investigations by involving FAIS-backed forensic professionals.
MANY STATES USE A RANGE OF METHODOLOGIES, HOWEVER THE MOST RELY ON CELLEBRITE'S UFED. FEW FORENSIC TOOL ARE MENTION HERE UNDER :
|
|
Function |
Lab uses |
Hardware or software |
|---|---|---|---|
|
Cell Site Analyzer |
Cell Site Analyzer collect Cell IDs from the spot as well as route required to get the data of cell towers. |
CDR/TDR ANALYSIS |
HARDWARE |
|
Black Thorn by BERLA |
Black Thorn by BERLA tool is the leading GPS forensics tool used for acquiring/examining and analyzing data from GPS devices. |
MOBILE FORENSICS |
SOFTWARE |
|
Portable Forensic Workstation (FREEDIE) |
Portable Forensic Workstation (FREEDIE) is High End workstation for Lab as well as field operations duty. |
DISK FORENSICS |
HARDWARE |
|
Forensic Tool Kit (FTK) |
To analyze and recover deleted data from HDD (Hard Disk Drives). |
DISK FORENSICS |
SOFTWARE |
|
X1 Social Discovery |
X1 Social Discovery enables reactive data collection capabilities for social media and website collections in forensic manner consistent with evidentiary value in the Court of Law. |
SOCIAL MEDIA LAB |
SOFTWARE |
|
MacQuisition by Black Bag Technologies |
MacQuisition is a forensic solution that runs for MAC OS X boot environment e.g. Apple laptops. |
DISK FORENSICS |
SOFTWARE |
|
Forensic Workstation FRED |
High End workstations for installation of digital forensics tools. |
DISK FORENSICS |
HARDWARE |
|
Magnet Axiom |
Magnet Axiom tool is used to recover the deleted digital evidence from the computers |
DISK FORENSICS |
SOFTWARE |
|
Internet Evidence Finder (Magnet) |
To find/analyze and present digital internet artifacts from the running system. |
DISK FORENSICS |
SOFTWARE |
|
Encase Forensics |
To analyze and recover deleted data from the HDDs. |
DISK FORENSICS |
SOFTWARE |
|
Passware with GPU Accelerator |
Passware with GPU Accelerator is a powerful drop-in solution that streamlines & accelerates process of decrypting password-protected files. |
DISK FORENSICS |
HARDWARE |
|
Media Clone |
Media Clone is a write blocker enabled tool used to create Forensic Image of Storage Media devices. |
DISK FORENSICS |
HARDWARE |
|
UFED Touch and UFED 4PC |
UFED Touch and UFED 4PC is used for extraction / examination / sim card/ drones/ analysis of data from Mobile phones/memory card etc |
MOBILE FORENSICS |
HARDWARE CUM SOFTWARE |
|
Write Blocker TD2u |
To make forensic imaging of hard disks/USB storage media. |
DISK FORENSICS |
HARDWARE |
|
TX1 Disk Imaging Tool |
To make forensic imaging of hard disks/USB storage media. |
DISK FORENSICS |
HARDWARE |
|
CD/DVD Inspector |
CD/DVD Inspector has ability to read data form the damaged or corrupted DVD/CD. |
DISK FORENSICS |
SOFTWARE |
|
XRY Mobile Data Forensics |
XRY Mobile Data Forensics analyze and recover information from mobile devices/GPS navigation devices and tablet computers. |
MOBILE FORENSICS |
SOFTWARE CUM HARDWARE |
|
Video Enhancement Tool (Kinesence) |
Video Enhancement Tool (Kinesence) is forensic software for enhancing and analyzing images and videos related data |
VIDEO FORENSICS |
SOFTWARE |
|
Network Miner (Netersec) |
Network Miner (Netersec) is an open source Network Forensic Analysis Tool (NFAT) for Windows (but also works in Linux/Mac/OS X/FreeBSD). |
NETWORK FORENSICS |
SOFTWARE |
|
Oxygen Forensics Detective |
Oxygen Forensics Detective software is used to extract data from Chinese phones. |
MOBILE FORENSICS |
SOFTWARE |
|
DME Forensics |
DME Forensics is tool for extraction and analysis of data from Digital Video Recorder devices |
VIDEO FORENSICS |
SOFTWARE CUM HARDWARE |
|
Elcomsoft (Password Breaking Tool) |
Unlock password protected documents found during analysis of storage media. |
DISK FORENSICS |
SOFTWARE |
|
Mobil-edit |
Mobil-edit is a phone data extractor/data analyzer and report generator. |
MOBILE FORENSICS |
SOFTWARE CUM HARDWARE |
|
CDAMS with I2 |
For analyzing the CDR and TDR records. |
CDR/TDR ANALYSIS |
SOFTWARE |
ICAI issue a QRB Report on Audit Quality Review in Nov 2022
Rajput Jain & Associates
