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Abstract
Fraud is a worldwide phenomenon that affects all countries and all sectors of the economy. India is not exempted from it. Fraud encompasses a wide range of illicit practices and & illegal acts involving deliberate deception or misrepresentation. Currently this financial crimes and frauds has augmented both in its frequency and severity. It is a major problem of the corporate and its shareholders. Accounting related frauds, scandal and scams related issues are hiked up in the world.