What is forensic and investigative auditing?
Forensic audits require accounting and auditing procedures and expert knowledge about the legal framework of such an audit. Forensic audits cover a wide range of investigative activities. A forensic audit is often conducted to prosecute a party for fraud, embezzlement, or other financial crimes. A forensic audit/examination is designed to focus on reconstructing past financial transactions for a specific purpose, such as concerns of fraud, whereas an internal audit is typically focused more on compliance and/or the performance of the organization.

What is the difference between a forensic audit and an audit?
One of the main difference between both of them is that, the audit gives you the guarantee that the financial statements that have been checked are true and fair and are reasonable and forensic audit helps to analyze and investigate a certain set of transaction that if any fraud has been occurred.

Who performs an internal audit?
Internal auditors are hired by the company, while external auditors are appointed by a shareholder vote. Internal auditors are employed to educate management and staff about how the business can function better.