SEBI to set up forensic accounting cell for checking fraud

Security Exchange Board of India (SEBI) will soon set up a forensic accounting cell to identify any bungling in the books and regulatory filings of listed firms and market entities.

The market watchdog would also churn out new investigative methods with an aim to catch fraudsters early in their sinister designs. AIR correspondent quoting sources reports the measures would be a part of SEBI's attempts to keep ahead of corporate and accounting fraudsters, and market manipulators, who are suspected of using newer methods and technologies every passing day to manipulate the rules in the market,

Having its own forensic accounting cell would help Sebi avoid any recurrence of Satyam-like scams, where irregularities in the company's accounts went unnoticed for many years.