Forensic Accounting, also termed as Forensic Accountancy or Financial Forensics is the specialty practice area of accounting that defines engagements that result from genuine or projected disagreements or litigation. "Forensic" means "apposite for practice in a court of law", and it is to that standard and impending outcome that forensic accountants usually have to toil. Forensic accountants, also referred to as Forensic Auditors or Investigative Auditors, often have to give an expert evidence at the subsequent trial. All of the larger accounting corporations, as well as many medium-sized firms, as well as various Police and Government agencies have specialist forensic accounting departments. Within these groups, there may be further sub-specializations: some forensic accountants may, for example, just specialize in insurance claims, personal injury claims, and fraud, construction, or royalty audits.
Forensic Accounting cases may fall into several categories. For example:
>> Economic damages calculations, whether suffered through offense or breach of contract;
>> Post-acquisition disputes such as earn outs or breaches of warranties;
>> Bankruptcy, indebtedness, and reorganization;
>> Securities fraud;
>> Business assessment; and
>> Computer forensics/e-discovery.
Forensic accountants often contribute in professional negligence claims where they are evaluating and observing on the work of other professionals. Forensic accountants are also engaged in marital and family law of scrutinizing lifestyle for spousal support purposes, determining income available for child support and unbiased distribution.
Engagements relating to criminal matters typically arise in the repercussion of fraud. They frequently involve the valuation of accounting systems and accounts demonstration—in essence judging if the numbers reflect authenticity.
Some forensic accountants major in forensic analytics which is the obtaining and analysis of electronic data to reconstruct, detect, or otherwise support a claim of financial fraud. The main steps in forensic analytics are (a) data collection, (b) data preparation, (c) data analysis, and (d) reporting. For example, forensic analytics may be used to review an employee's purchasing card activity to assess whether any of the purchases were diverted or divertible for personal use.
After the thorough sessions provided under this course, one would be able to assess and judge the usefulness of Forensic Accounting in the cases pertaining to auditing and financial disputes or litigation.
Module-1 Forensic accounting and auditing techniques
In Forensic Science, Forensic accounting is one of the broadly emerging field. Module would be introducing you to the overview of forensic accounting, definition, reasonableness, difference between conventional accountants and forensic accountants and tenets of forensic accounting.
Forensic accountants combine their knowledge with investigative assistances, using this unique combination in hearing etc. Module comprises the introduction of frauds, its types, techniques and psychology of a fraudster, typical corporate financial fraud, corporate fraud nature, white collar fraud, fraud against organizations, consumer frauds etc.
Module-3 Financial investigations
Financial investigation basically deals with the corporate fraud detection, uncovering corporate fraud, red flags of recognizing employee and management fraud, applying fraud auditing standard, financial statement fraud analysis, financial statement frauds; liability and asset, inadequate disclosure frauds, environment of business, conducting internal corporate investigation and interviewing and interrogating.
Module-4 Evidence collection, analysis and admissibility
Forensic accounting and auditing techniques include certified fraud examiners, evidence collection and analysis, principle of CIA, forensically sound evidence collection, evidence handling, special investigations, investment scams, money laundering, marriage and divorce, tax fraud, resolution of fraud, excess bank charges auditing, the role of questioned document examiner and fingerprint examiner.
Module-5 Computer forensic and computer crimes
Computer forensic and computer crimes would be introducing you to the computer forensic with case studies, e-accounting and reporting, general prevalent climate of computer crimes, fraud in e-commerce, ATM scams, online transaction frauds, insurance and capital market fraud, nature of computer crimes, computer criminals, prevention mechanism, investigating computer crimes, constitute investigating team and known impediments. It will comprises multiple case studies on bank frauds.
Module-6 Fraud risk management
This module focusses on the management and investigation of fraud, conducting fraud risk assessments, implementing fraud risk management programs, roles & responsibilities for FRM, identifying red-flags, fraud prevention policy and the implementing continuous monitoring.
Module-7 Forensic fraud auditing techniques
Forensic auditing denotes to the specific processes carried out in direction to produce evidence. The techniques are used to recognize and to gather evidence to verify cases. In this module, the students will be introduced with case studies of fraud investigations, auditing techniques, six auditing methods such as tiger team test, application of Benford’s theorem, use of barium test, data analytics for fraud investigation, application of inverse logic and use of space-time dimension in data evaluation.
Module-8 Forensic interviewing & interrogation
Interview and interrogation is to acquire information relevant to a particular case or occurrence. Forensic investigators are continually receiving information to investigate the legal matters. It will comprises the formal interviews, the nature and purpose of forensic interviews, difference between interviews and interrogations, types of witnesses, the environment of the interview room and the use of video and audio recording.
Module-9 the evolving nature of fraud – Cybercrime & IP theft
Under this module, students would be taught about the advancement and technologies, the largest credit card heist in history, advancement of technologies opportunities for fraudsters, intellectual property theft etc.
Module-10 Forensic expert witness
Expert witness assignments and witness will be introduce you to the forensic report as evidence in a court of law, approaches for the development of the forensic report and the various formats of the forensic report.
Module-11 Combat frauds
Under this module, students would be taught about the introduction of fraud audit, strategies to fight fraud against company, proactive fraud audit and building an anti-fraud action program.
Module-12 Legal environment
Forensic is all about law and court related subject. It will introduce you to the legal environment system, testifying as an expert witness evidence act 2011, CBN guidelines etc.
The evaluation process varies depending upon the course you enroll for, likewise: if you are enrolled for Certification, you will be allotted an assignment during the mid-session of the course, which you are deemed to complete within the month. Similar process is followed in Diploma. But in PG Diploma, after the completion of the assignment during the mid-sessions; a Project-work is assigned during the last quarter, which you have to complete in a month’s time.
The mode of examination will be online for the students enrolled either in online courses or in distance course. After the completion of the respective course duration, a username and password would be generated for all the enlisted students. The username and the password would be mailed to every student prior to the date allotted for the examination to be held, and accordingly they would be requested by the concerned authorities to check their mails, so that they could use the specified details in order to give their exams on our online examination portal on the allocated date and time.
Note: Every student will be given a username and password a month before the conducting of the exams for the demo-exams, so that they get to know every detail concerned with the online examination pattern.
The complete correction and evaluation takes about two weeks. After the evaluation process is finally done, the mark-sheets and certificates are posted on to the postal address of every student, but only after verifying their postal addresses as mentioned on the submitted application forms. Therefore, the students are always requested to mention their correct and complete address on their application form, in order to avoid further confusion and disappointment.
This collaborative training session is designed for online and distance students. The training would acquaint the students with a detailed applied sessions relating to Forensic Accounting in the judiciary proceedings.
Module-1 Evidence collection, analysis and admissibility- In this module, the subject matter will make students aware of the essentials and the key-role of evidence collection in the provided course structure. The entire science of Forensic rests on evidence collection and analysis, therefore this subject is of great value for a proper trial processes and court-room proceedings.
Module-2 Forensic fraud auditing techniques- This module will teach the students as how to apply the scientific and investigative techniques in fraud involving auditing cases. This subject would equip the students with a technical hand on the evidential values that should be taken into account while inspecting fraud related auditing.
Module-3 Forensic Interviewing & Interrogation- Interviewing and interrogation module would acquaint the students with the art of an appropriate interrogation with the suspects that may assist the investigators to unfold the various data, facts and figures associated with the particular crime.
Module-4 Cyber-crime and IP Theft- Cyber-crime has been the most perilous and yet silent crimes of the current computer era. Therefore, it’s one of the very prime task of the trainer to make the students aware of the pros and cons of the computer technology. Under this module, students would be taught regarding the commonly occurring cyber-crimes and the techniques to cope with them.
DURATION OF TRAINING
The duration scheduled for the training is one month during the summer vacations.
ADVANTAGES OF TRAINING
>> The training session specially focusses to bring together online and distance students to enhance their knowledge.
>> Training will provide you the practical knowledge and opportunities to investigate the legal cases pertaining to financial exchanges.
>> The training session of the course FSP 302 Forensic Accounting course familiarize you to brief knowledge of course in classroom assembly.
>> Online and distance students attend to plenary training session and case studies, and learn more about the financial frauds and the related investigating techniques.
>> Upon completing this training session, you would be able to develop your potential in an analytical manner.
FEE FOR TRAINING
The training would be payable for online and distance learning students. But they already being enrolled as students, therefore they can avail an add-on advantage of earning 15% scholarship on their respective course fee.
After the successful completion of one month training, a valedictory function is organized on the last day where students are distributed the certificate and a farewell treat is arranged for the students from the Organization.
Outline towards Forensic Accountant career paths
Now a days Forensic Science stands in a very broad manner with multiple sub-fields. Forensic Accountant is one of the chief sub-disciplines of Forensic Science, which offers a myriad career opportunities to the keen aspirants. After a thorough theoretical and practical sessions provided under this course, the student would be able to gain the capability to analyze the accounts and finance-related frauds. After completing this course, a student has innumerable options to groom one’s career, some of them are listed below:
>> Student can be appointed as a Forensic Accountant in Vigilance Department of various governing bodies.
>> Student can also be appointed as Forensic Accountant in various Government and Private Sectors.
>> Student can be appointed as a faculty/ trainer of Forensic Accounting in the various institutes offering Forensic Science courses as undergraduate and master’s programme.
Educational Qualification to set a career in Forensic Accountant
First level course of the Forensic Accounting is a Certification Programme. In order to opt for this course one must be of Commerce and Accounts background. Forensic Accounting courses are also available for the Commerce background graduate level students who are interested to start their career from master level programme in the respective investigating science. For those students, who are opting for their Doctorate degree can choose any of the topic related to Forensic Accounting for their further research and study.
Law students and professionals both can do Certification, Diploma Course and P.G. Diploma course offered in Forensic Science to elevate their legal knowledge.
Sectors in Forensic Accounting
Job prospects for Forensic Accounting are in Government and Private Corporate Sectors. Alternate job, besides working in a Laboratory is teaching with abundant opportunity to upheld one’s career by imparting education. One has options open for any field related to the transaction and exchange of finances.
1. What is Forensic Accounting?
In the course Forensic Accounting, the students will be acquainted with the cases that come under the Forensic Accounting topic. Students will be taught as how to deal, handle and proceed with the cases involving frauds related to finances and accounts.
2. What is the course content of FSP 302?
The course Forensic Accounting (FSP 302) includes the importance of application of a combination of the science of Forensic and Accounting to unveil the foul pay related to finances and transactions.
For more details click on- http://www.sifs.in/prospectus/FSP-302-forensic-accounting.pdf
3. What is the course duration of Certificate, Diploma and PG Diploma courses?
All online and distance courses are divided into three certifications i.e. Certificate course for three months, Diploma course for six months and PG Diploma for one year.
4. What qualification is required to be eligible for the above-mentioned courses?
If you are looking for Certificate and Diploma courses, you must have completed your 10+2 or appearing in any discipline from Recognized Board/ School and for PG Diploma course graduation will be required. In the admission process, self-attested mark-sheets and certificates of the previous school/college and transfer certificate along with 2 passport size photographs will be required from the student.
5. Where can I register for distance or online education courses?
We provide online application form for all online or distance students. To download application, form click on- http://www.sifs.in/application-form.pdf
6. When will I receive my study materials, books etc.?
After the completion of your admission process and payment of fee, the students enrolled for online courses will receive a username and password to access e-library within 7-10 working days through mail on their mail id which is mentioned on the application form; whereas distance education students will receive hardcopy of related course materials on the mentioned address by courier or post within 15 working days.
7. What about exams and course credits?
In the last month of your course, we will conduct your online exam. All details regarding your exam will sent to you on the mail id provided by you and the course credits differs according to course code and divided into assignment, project and exam.
For more detail please click on- www.sifs.in/ims
8. How do I get my certificate/mark-sheet, when I have completed my exams?
You will receive your mark-sheet and certificate within a month on your mentioned address by courier or post.
9. What is the difference between online and distance education? Which is the best mode of education?
Both modes of education are good. The only difference between online and distance education is distance education students will get hardcopy material related to their course code, and so the distance learning students will pay Rs. 1000 more as compared to online education students. An extra amount is charged for distance learning students, as the postal charges are included in the course fee.
10. Where do I find out what courses are being offered distance or online?
We provide all information on the website- www.sifs.in
11. Although my degree is in an unrelated field of study, I have taken quite a few science courses. Am I eligible to apply?
No. You are not eligible for this Forensic Accounting (FSP 302), because you are required to be from Commerce background to understand the basic principles associated with the course.
12. What is the scope and career of forensic education and related courses?
Forensic Science offers a wide range of opportunity to the students aspiring to make their careers as Forensic Scientists and Investigators. With a sense of keen observation and the ability of seeing the unseen are a few traits that would promise the aspiring students to make a colorful career in the wonderful arena of Forensic.
13. Should I pay any extra fee for examination, study materials etc.?
No. Your course fee includes Study materials, Books, Notes, I-Card, Examination Fee. You are not required to pay any extra amount, but in some cases- additional taxes / fees may apply. If you are living out of India and interested in printed notes and books, then you have to pay shipping/postal charges extra. Summer training and practical sessions will be payable for online and distance students with 15% scholarship.
14. What will I get after joining distance course?
You will get User-id and password to access e-library within 7-10 working days. Study materials, notes and books related to your course and id-card will be sent on the address mentioned by you, either by courier or post within 15 working days.
15. How can I pay my course fee by credit card in USD?
Indian Students may use Universal Currency Converter from http://www.xe.com/ucc/ to pay fee in other currencies, or International students visit this link- http://www.sifs.in/onlinefee.php to check out the fee structure. You can pay your course fee from here- http://www.sifs.org.in/payment (Students enrolled for courses having course duration more than 6 months can pay their Course Fee in maximum two instalments, but Rs. 2000 will be charged extra.)
16. Why is training important?
Training is a vital part of online and distance students. It is intended to provide students with the opportunity to place theories into practicals. It is also very helpful to develop their skills that support professional life by preparing and encouraging them to apply their abilities and knowledge acquired through study in a work later on. So, even before the students completed their course they are trained to be job-ready, therefore increasing the student’s employment prospects.
17. What is the best route to prepare for a career as a forensic scientist?
SIFS INDIA provides professional course Forensic Accounting (FSP 302) to acquire knowledge from the basics. The course main characteristic is to make the people aware of the utility of the knowledge of accounts in law enforcement and forensics. Subject offers the opportunity to grow your career in many sub disciples.
18. I am interested in a career in this field. Where do I start?
In order to initiate a career into this field, you should have a zeal and urge to unveil the veiled. A certificate, diploma and PG diploma course would help you groom your knowledge theoretically as well as practically, thereby ensuring a safe and secure career.
19. Where will I work?
You may avail opportunities as a Forensic Accountant in the central as well as state governing bodies. Innumerable options are available for a student aspiring in this field.
20. What are the other specialized forensic science careers can be found outside the crime laboratory?
Other than working in the Crime Laboratory, you can also be appointed as a Crime Scene Investigator in Police Stations or you can also be appointed as an Investigator for the Mobile Forensic Laboratory.
Employee Fraud Investigation
An agency was retained by a locally-owned casino to investigate and quantify the losses to support an employee theft insurance claim that was perpetrated by a key employee. Following that investigation, we assisted the State of Nevada Gaming Control Enforcement Division in its submittal of the matter for prosecution, and then supported prosecution of the suspect by the Clark County District Attorney’s Office.
Procedures: Procedures included performing background research on the suspect, considering the financial and accounting processing environment, identifying and isolating suspicious transactions and those subject to influence by the suspect, testing selected transactions, and quantifying the theft loss.
Planning Phase: Background research; evaluate and understand financial and accounting processing systems of the casino/hotel that may have been preyed upon; identify transactions subject to potential manipulation; conduct interviews of management and the suspect.
Investigative Accounting Procedures: Analyze the support for identified cash payouts; physical inventory of all computer equipment; independent assessment of purchase quantities and costs; analyze falsified invoice files from a recovered compact disk.
Quantify the Theft Loss: The loss amount of approximately $500,000 was determined by aggregating fabricated invoices that had been identified based on our independent physical inventory and estimating the inflated purchase costs using financial analyses and extrapolation.
All these courses are Online / Distance mode. Each student can access their course module by login our online study portal i.e.
Apart from above course details, there are some additional details of this course. More details can be get by clicking here such as-
1. Eligibility for the Admission
2. Admission Procedure
3. Examination Pattern
4. Grading System in Examination
5. Course Fee and Concession
6. Types of Certificates
7. Study Materials
For further Course details Click Here-->>
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