Forensic Accounting As A Career

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Forensic Accounting

Summary

Forensic accountants, also referred to as forensic auditors or investigative auditors, utilize their accounting, auditing and investigative skills in various litigation support and investigative accounting settings. A forensic accountant has the responsibility to communicate financial information clearly and concisely in a courtroom setting. They provide an accounting analysis that is suitable to the court which will form the basis for discussion, debate and ultimately dispute resolution. They are trained to look beyond the numbers and deal with the business reality of the situation.

Career Opportunities in Forensic Accounting

Private Corporations / Firms
As part of the corporate governance committee, a forensic accountant can make significant contribution in: formulating and establishing a comprehensive governance policy; prevention of fraud; monitoring not only compliance at the top levels of the corporate power, but also management procedures and employee activity. They ensure the integrity of financial statements by actively investigating for potential frauds.
Insurance Companies
Insurance companies recruit forensic accountants to have a precise assessment of claims to be settled. Similarly, policy holders seek the help of a forensic accountant when they need to challenge the claim settlement as worked out by the insurance companies. A forensic accountant handles the claims relating to substantial loss policy, property loss due to different risks, loyalty insurance and other types of insurance claims.
Government Organizations
Forensic Accountants can also work in a number of government organizations where they conduct the financial investigative portion of complex cases.
Public accounting firms
Forensic accountants are employed here to inquire, identify, investigate, test, examine, analyze and interpret financial documents and data
Law firms
Forensic Accountants with broad business backgrounds and forensic experience are a vital resource to the litigation team and provide valuable insight into financial issues. Litigation often involves multiple, complex accounting and legal issues that overlap and intertwine.

How to Become a Forensic Accountant

	Stream	Graduation	After Graduation	After Post Graduation
path 1	Clear Class XII in Commerce Stream (Recommended)	Pursue Bachelor???s degree in any field for 3-4 years/ Pursue professional certification for CA/CS/CWA or CPA	Get a diploma/ certificate in Forensic Accounting	-

Important Facts

Forensic accounting courses are usually offered in the master's degree level.
In order to be a Certified Forensic Accountant in India you must be a Graduate from a recognized University.
Besides, you should have a professional experience of at-least three years and clear the CFAP examination with at least 75% marks.
In India, CFAP Examinations are conducted by India Forensic and moderated under the bylaws of Forensic Accounting Research Foundation.

Leading Institutes

Top Forensic Accounting Institutes in India

College	Location	Website
India Forensic	Pune	www.indiaforensic.com/
Institute of Chartered Accountants of India	Delhi	www.icai.org/
Institute of Cost Accountants of India	Delhi	www.icmai.in/

Work Description

Perform forensic research to trace funds and identify assets for recovery
Conduct forensic analysis of financial data
Prepare forensic accounting reports from financial findings
Prepare analytical data for litigation and testify the same as needed
Analyze and investigate financial statements and reports for signs of irregularities
Reconstruct the events and activities involved in financial wrongdoing
Create presentations in support of legal cases, and may be called upon to testify in court regarding their findings
Audit records, investigate into inconsistencies, trace assets, and interview individuals who created, contributed to, or reviewed records under analysis

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