Forensic accounting and forensic auditing has been here from ancient history, but it came to a full swing in the beginning of the twentieth century. The main task of forensic accounting and forensic auditing is to detect financial frauds of economic agents. Forensic accounting encompasses various other disciplines, namely: controlling, financial accounting, psychology, law and criminalistics and auditing. Forensic auditing is an offspring of forensic accounting and as such has no exact definition. A forensic accountant uses accounting, auditing and investigative skills and rationale in order to detect and solve financial and accounting problems in dealings of companies. Forensic auditors are usually accountants or auditors who excel in detecting and documenting frauds because of their beliefs, skills, knowledge and experience. This thesis also analyses cases of financial report manipulations. Financial reports in the ‘Enron’ case and the ‘Toshiba Corporation’ case are frauds relating to quoted companies and there is a form of a Ponzi scheme for the company ‘ZZZZ Best’. Frauds conducted by employees have also been analysed, e.g. the ‘Koss Corporation’ case and the ‘Alberta Motors Association’ case. The ‘MF Global’ case and the Bust-out scheme represent frauds conducted by banks and other financial institutions. The above mentioned frauds are geographically distributed all around the world and the most serious financial fraud in the Republic of Croatia is the case of ‘Agrokor’ company which had an impact on the national economy.