International Fraud & Asset Tracing 2025 – Trends And Developments

This piece has been published by Chambers and Partners at International Fraud & Asset Tracing 2025 – India | Global Practice Guides | Chambers and Partners

National Fraud Reporting Authority – the New Sheriff in Town

Introduction

In today's complex business landscape, auditors act as guardians of financial integrity. Their role goes beyond merely verifying numbers – they are crucial in detecting and preventing fraud, ensuring transparency and upholding public confidence in financial markets worldwide.

There has been a worldwide shift in the measures for the regulation of auditors, from the self-regulatory model towards creation of independent oversight bodies. This trend dates back to the aftermath of the Enron scandal in the early 2000s, which led to the enactment of the Sarbanes Oxley Act in 2002, and the creation of the Public Company Accounting Oversight Board in the United States of America. Even the United Kingdom set up its Financial Regulatory