Forensic & Fraud

Investigation
Services

Risk Advisory Services ASC

 OUR BRIEF INTRODUCTION
ASC Group started in 1995 as a CA firm with a view to offer all
Singapore
Chartered Accountants
accounting and financial services for individuals and corporates under one
roof.

About
About Us
Us Canada MBAs It has a team of more than 250+ people and 70+ experts comprising of
Chartered Accountants, Company Secretaries, Advocates, Insolvency
Professionals and Management Professionals. Being Registered Office in
Our Forensic Offerings
Delhi
Company Secretaries Delhi, it has several branches in India like Noida, Gurugram, Mumbai,
Bangalore, Chennai and overseas countries with a branch office set up in
Singapore and Canada.

Our Methodology
Lawyers ASC Group is offering services through many interlinked entities: Alok
Noida Insolvency Professionals Sinhal & Co. (the original Chartered Accountant firm), Themis and Dike
(the legal arm of the ASC group), ASC Consulting Private Limited
Key Takeaways (catering to multinationals doing business in India), ASC(S) Consulting

Gurugram
Financial Management Experts Pte Ltd (serving to corporates located in Singapore), ASC Ventures Corp
(serving to corporates located in Canada) etc.
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Developing a special relationship with our clients forms the basis of our approach. It rests on a three-
fold promise of:
Our Team Mumbai
Practical
Personal Positive
Expert
Attention Solutions
Bangalore Advice

The Firm’s rich heritage is apparent in the values for which we stand – integrity, reliability &
Chennai proficiency. It is our considered policy to provide professional services in a conservative manner with
due attention to the security and propriety of the transactions involved.

Risk Advisory Services ASC

 OUR JOURNEY SO FAR….

Global presence
Featured in ‘Bureaucracy Team of more than 300
Having 8 offices all over Today’ People
About
About Us
Us world

Our Forensic Offerings

Our Methodology

1995 2009 2011 2013 2014 2015 2016 2017 2018 2019
Key Takeaways

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Year of Established Set up Built a Established Established Established Established Established Established
Our Team
Inception Two offices International strong team 3rd office in 4th office 5th office in Insolvency 6th office in 7th Office in
With 2 One in taxation and of 150 Mumbai with 18000 sq ft Singapore & Bangalore Canada &
people and Lajpat Foreign Trade experts and launch of 6 storey providing Bankruptcy and set up 8th office in
limited set Nagar and policy published Legal building in outbound vertical and Japandesk Chennai and
of clients other one in business book on All Metrology Noida services and Sourcing for Japanese expand
Gurgaon vertical India Tax verticaland become a and clients team of
with a team and VAT: featured in team of Solutions more than
of 50 people Ready ‘Bureaucracy 190+ Vertical 300 People
Reckoner Today’ experts

Risk Advisory Services ASC

 WHY ARE WE DIFFERENT?
24 years of high
quality service
Top quality services at
delivery and competitive costs
continuity in SENIOR
COST
Management LEADERSHIP ADVANTAGE
DRIVEN
About Us

Our Forensic Offerings Multi-service lines Regular interaction /

ASC Group trained team providing
a holistic view of
PEOPLE LEADERSHIP
updates by Director / HOD
ADVANTAGE TIME

Our Methodology
ADVANTAGE process and control
gaps
Regular guidance and
quality reviews

Key Takeaways
Highly
Responsive
RELEVANT Day to day
EXPERIENCE management by a
Quick response Team
time and strong designated team leader
Selected Case Studies who has strong
relationship
management experience in
Investigation Process

Our Team
CLIENTS THAT WE SERVED
Banking &
Automobile Food Software &
Edible Oils Hospitality Infrastructure Pharmaceutical Financial Education
ancillary Processing ITES
Services

Leisure & Breweries & Real Estate &

Telecom Garments Power Fertilizers Healthcare Logistics
Entertainment Distilleries Construction

Risk Advisory Services ASC

 OUR SERVICES
Risk Advisory &
Taxation Secretarial & Legal Consulting
Assurance
Taxation Incorporation & India Entry & Business
International Taxation Audits
Statutory Registrations Startup Consulting
About Us
Forensic & Companies Act, 2013
Transfer Pricing Merger & Acquisition
Investigation Services Compliances
Our Forensic Offerings Risk
Advisory & Process Management Foreign Trade Policy &
Expatriate Taxation RBI / FEMA Compliances
and Re-Engineering Free Trade Agreements
Assurance
Our Methodology
Corporate Income Internal Control
Liquidation Services Custom & EXIM Policy
Tax Reviews
Key Takeaways Policy & SOP Insolvency &
Withholding Tax SVB & AEO Registration
formation Bankruptcy
Secretarial &
Legal Metrology, BIS,
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Legal Personnel Income tax
IFC/ICFR Legal Services
FSSAI, ETA, E-Waste,
documentation (Corporate & Labor)
Plastic Waste Registration
Goods and Service Drafting of Agreements
Our Team Certification Services Sourcing Solutions
Tax / Contracts
Assessment & Tax Review programmes Arbitration & Dispute
Consulting Litigation before Audits Resolution
Outsourcing Services

ACTING AS A CATALYST FOR ALL TYPE OF CLIENT BASE

High Net-
Business
worth Entrepreneurs Family offices MNCs
Conglomerates
Individuals

Risk Advisory Services ASC

 FORENSIC SERVICES
The significance of forensic services has gained paramount importance as the Indian economy is moving towards maturity and
corporate & banking scenario is witnessing a great turnaround and transparency. Recent enactments such as the Insolvency &
Bankruptcy Code 2016 and GST implementation have created a demand for investigative skills of forensic accounting experts.

Forensic experts can add tremendous value to the entire process by ensuring that the involved parties don’t operate in bad faith.
About Us
Forensic/investigative techniques such as data analytics, market intelligence, social media filtering can help provide qualitative
information to the enquirer, which could help them proactively identify some of the potential issues/ red flags,
Our Forensic Services thereby protecting the interest of the relevant stakeholders.
Organizations and their counsel turn to
Our Methodology OUR FORENSIC OFFERINGS ASC because of our ability to develop an
investigative strategy and a plan designed
to identify sources of information and
responsibility for wrongdoing. ASC’s expert
Key Takeaways • Fraud Prevention Programme teams can move swiftly and effectively to
Corporate Forensic • Fraud Risk Management find facts, recover losses and mitigate risk.
• Fraud Risk Assessment We work closely with our clients’ senior
Selected Case Studies management and legal counsel during all
phases of an internal investigation. Our
• Sourcing Solutions findings and reports have enabled clients to
Our Team • Due Diligence Audit
Third Party Forensic • Investor Burnout Audit
resolve official inquiries, address corporate
crises and report to shareholders and other
• Whistle Blower Claim Review interested parties.

We provide improvement in relation to

• Cyber Due Diligence Policies, SOPs, authority Matrix, and
• Cyber Fraud Risk Assessment
Cyber Forensic documentation standards. We also helps in
Assessment of impact of fraud/dispute and
their closure on tax and other regulatory
matters

Risk Advisory Services ASC

 HOW FORENSIC CAN HELP

Cost Saving
Cost Saving Control Environment Background checks &
01 Opportunities
Opportunities
02 deficiencies 03 Undisclosed Relationships

About Us
Forensic Audit can improve efficiency
by identifying areas of waste. The
Our Forensic Services
findings from Forensic audit can save
an organization from the obligations
Our Methodology which helps reduce the high cost and
legal repercussions.
A poorly managed Control Forensic auditing can help with the
environment could consume detection and recording of potential
excessive management time and conflicts of interest for executives by
could become an unwelcome improving transparency and probity
distraction for the business which in the way resources are used.
forensic audit helps to overcome

Key Takeaways

Enhanced Efficiency & Attention to

Selected Case Studies 04 Effectiveness 05 Existing/Potential Frauds

Our Team
Forensic auditors are specialist in Forensic audit can save an organisation
rooting out frauds and would from many frauds such as :
recognise transactions normally Personal Purchases
passed over by the organisation, Asset Theft
accountant and auditors, by in-depth Skimming
focus on issue on hand. Financial statement falsification

Risk Advisory Services ASC

 ADVANTAGE OF FORENSIC OVER AUDIT

FORENSIC AUDIT

About Us

Our Forensic Services Forensic audit determines correctness of
the accounts or whether any fraud has
actually taken place
Our Methodology
Techniques used are analysis of past trend
and substantive on ‘in depth’ checking of
Key Takeaways
selected transactions
It don’t face any such limitations of
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accounting period. Forensic auditors may
be appointed to examine the accounts
Our Team from the beginning
Forensic auditors are required to carry out
the independent verification of suspected
or selected items.
In case of adverse findings, the forensic
auditors are required to quantify the
damages to the clients. Many a times,
Legal action will be sought
Financial auditing is to express opinion as
to ‘true & fair’ presentation
Techniques used in the financial auditing
are more of ‘Substantive’ & ‘Compliance’
procedures
Normally all transactions for the particular
accounting period are covered under the
financial audits
Financial auditor relies on the
management certificate or representation
of management for ascertaining the
accuracy
Whenever the financial auditor has
adverse findings, then the auditor
expresses the qualified opinion,
with/without quantification

Risk Advisory Services ASC

 OUR METHODOLOGY FOR FORENSIC

Data Analysis Forensic Analysis Target Outcomes

About Us Compare market price from

Gathering transactional
open sources
data Inappropriate and fraudulent
Our Forensic Offerings expenses due to collusion with
vendors
Examine the Quotation
process from fraud risk
Our Methodology Compilation of
perspective

Fraud Risk Assessment

transactions under each
head and third party

Key Takeaways Performing background checks

of vendors
Reviewing pattern of
Payment of incorrect/personal
transactions and identify
Selected Case Studies anomalies expenses to employees
Evaluate employee
relationship with the
Our Team suspected vendors
Review trends in
transactions in reference
to other business Compare and correlate
records expense information from
multiple independent sources

Identify class of Excess expenses being charged

transactions, third Correlating all findings to by and paid to vendors
parties and employees determine mode
that need Fraud Risk of/involvement in fraudulent
Management activities

Risk Advisory Services ASC

 ULTIMATE GOAL FOR HEALTH CHECK REVIEW

About Us

Our Forensic Services

1 2 3
E S T A B L I S H
R E D U C E S D E T E T C I N G
C O N T R O L
Our Methodology C O S T A N D C U R E
F R A U D S P R O C E S S
F L A W S
Key Takeaways

Selected Case Studies  Alternatives means  Those suspected areas  Overall control over
where costs can be cut where fraud is already measures in the
Our Team by other alternatives detected company by detecting
weakness in policies
 Efficient utilisation of and processes
resources  Areas where control and
procedures are weak or
 Areas where prices are not strong enough to
higher than market prevent fraud
prices

Risk Advisory Services ASC

 HEALTH CHECK OF JAPANESE COMPANY
Background Our Approach Our Findings Outcomes

 Target Company is  Initially we started with  During preliminary  Public Relation officer
engaged in providing understanding the investigations and was given benefits in
About Us business of target further investigation we cash and bank
medical & Pathology
services to renowned company. scanned the telephone transactions also from
hospitals having  Fraud risk exposures & records of suspect the account of admin
Our Forensic Services staff of the competitor
collection centres and vulnerability were  Public relation officer of
major processing identified. the co. was contacted by company.
Our Methodology
laboratories. unidentifiable source  Fraudulent activities
 Demanded Preliminary
 Target Company lost the list of suspects from from the competitor co. were happened for
contract over a period of management with a proposal to about 3 years
Key Takeaways time to one of the major discloses the quotation  Further procedures
competitors and  Interviewed the to the competitor co.
employees in the performed to gather
suspected someone  During the check he/she evidences included
from the management organisation in friendly
Selected Case Studies was regularly contacted
to be responsible for the manner  USB D view
by the unidentified
same. number during the  Recent file view
Our Team  “Board of Directors” tender period
engaged us to  After closed reviews
investigate the contact was identified as
circumstances. related to competitor co.

Risk Advisory Services ASC

 RETAIL DRUG SALES CHECKUP OF INDIA BASED CLIENT
Background Our Approach Our Findings Outcomes

 Target Company was  Initially we started with  We found that there was  After interviewing the Pharmacy
engaged in healthcare understanding the one person assigned to manager, we came to know that
business and drugs were business of target create assigned to create he/she used to manipulate the stock
About Us used as inventory from purchase orders (POs), of medicines as the items were very
company.
their hospitals place orders, receive small and difficult to reconcile during
 Fraud risk exposures & medications, and any audit or physical stock taking.
Our Forensic Services  Drugs cost 20% of its vulnerability were
cost and increasing reconcile orders to POs.  In review of online billing system,
identified. there was a room to feed the sales
annually  The lack of segregation
 Demanded Preliminary price of the medicine manually. This
Our Methodology  Director was unsatisfied of duties demonstrated
list of suspects from a significant opportunity also resulted in manipulation of sales
with the rigor of control management invoices by the pharmacy personnel
in the place for the for diversion.
 Interviewed the for their personal gains. This was
Key Takeaways inventory stores  An audit of the confirm during the interview above
employees in the purchasing records
 Primary concern was as well
organisation in friendly found high-cost  Some instances of open and obsolete
centered on the manner
Selected Case Studies chemotherapy or expired material being found
exceptionally expensive
no controlled drugs medications and other during stock audit. But nothing was
drugs that were no mentioned about the disposal
Our Team longer in inventory and mechanism of those drugs. During
for which dispensing further interviews, we learned that
records did not support those drugs were given to some local
their use in patient care person at cheaper rates who
intended to use it by changing the
outer packing of the drugs. This is a
high risk activity being observed
among others.

Risk Advisory Services ASC

 OUR TEAM

About Us

Our Forensic Offerings

Our Methodology

Key Takeaways

Selected Case Studies

Our Team

Risk Advisory Services ASC

 OUR RISK ADVISORY SERVICES LEADERSHIP TEAM

CA ALOK KUMAR AGARWAL (Founder & CEO)

CA Alok Kumar Agarwal is the Founder and CEO of ASC Group. With an experience of over 24 years, he is an
About Us eminent name in the Finance and Taxation Industry. Mr. Agarwal, the author of two well-known books ‘All India
Taxes, a ready reference’ and ‘All India VAT ready reckoner’, is a visionary who aims to revolutionize the
industry with his out of the box thinking and belief in knowledge sharing.
Our Forensic Offerings
Mr. Agarwal was the first author to merge and collate various kinds of taxes and all tax-related laws into a
single book. He is also a prolific speaker and has hosted many lectures and seminars on the issues of Taxation,
Corporate Finance, RBI regulations and Auditing. Responsible for setting up ASC and taking it to new heights,
Our Methodology he is a renowned expert on Company Laws, Taxation Practices and Government Regulations. Mr. Agarwal
believes in the people-first approach and empowers his employees and leads them by example.

Key Takeaways

Selected Case Studies CA ANKUSH GOYAL (Assistant Vice President, Risk Advisory)

EDUCATIONAL/PROFESSIONAL QUALIFICATIONS AREA OF SPECIALIZATION

Our Team • Associate Chartered Accountant from the
Institute of Chartered Accountants of India
• Bachelor of Commerce, Bikaner University,
Rajasthan
• Certified Fraud Examination (CFE) from the
Association of Certified Fraud Examiner (USA)
• Certification in Forensic Audit and Fraud
Detection (FAFD) from the Institute of Chartered
Accountant of India
• Diploma in Information System Audit (DISA)
from Institute of Chartered Accountants of India
• Risk management, Fraud Investigation,
Process Reviews, Control Establishment,
SOP Compliance, IFC Review etc. of listed &
unlisted companies
• Rich experience in a variety of industries
such as Telecommunication, Power, Retail,
Insurance, NBFC, Infrastructure,
Manufacturing, F&B, Real Estate and E-
commerce.
• Rich experience of providing trainings on
IFC and Internal Audits.

Risk Advisory Services ASC

 GET IN TOUCH!
In case of any further enquiries or further clarification, please feel free to contact us at:

Delhi Office Haryana Office Karnataka Office Uttar Pradesh office

About Us
605, Suncity Business 0420, 2nd Floor, 20th C-100, Sector-2, Noida-
73, National Park
Tower Main, 6th Block, 201301 Uttar Pradesh
Lajpat Nagar IV, New
Our Forensic Offerings Golf Course Road, Koramangala,
Delhi – 110024 Phone: 0120-4729400
Sector-54, Bangalore- 560095
Phone: +91-11- Phone: 080421-39271
Gurgaon, Haryana -
41729056 / 57
Our Methodology 122002
Phone: +91-124-
4245110 / 111 / 116
Key Takeaways

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Maharashtra Office Chennai Office Canada Office Singapore Office

Our Team 885, Progress Ave

605, B-Wing, Sagartech Level 2- 78/132 #10-09 High Street
Plaza, Toronto, Ontario, M1H Centre
Dr. RK Salai Mylapore 3G3, Canada Phone:
Andheri Kurla Road, 1 North Bridge Road
Chennai- Tamilnadu- (+1) 437-774-4488
Sakinaka, 600004 Singapore-179094
Andheri (E), Mumbai –
400072 Tel.no. 022- +91-8860774980
67413369/70/71

Risk Advisory Services ASC

 Thank You !!

About Us

Our Forensic Offerings

Our Methodology

Key Takeaways

Selected Case Studies

Our Team

Risk Advisory Services ASC