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Forensic Accounting As A Career

Forensic Accounting As A Career

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.

How to Become a Forensic Accountant

StreamGraduationAfter GraduationAfter 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 CPAGet 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
CollegeLocationWebsite
India ForensicPunewww.indiaforensic.com/ 
Institute of Chartered Accountants of IndiaDelhiwww.icai.org/ 
Institute of Cost Accountants of IndiaDelhiwww.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

Pros & Cons of a Career in Forensic Accounting

Pros
  • Professionals in this field are high in demand
  • Decent remuneration and perks
  • Is an interesting combination of law and accountancy
Cons
  • It is an added skill and not a whole career domain in itself
  • Long and tedious work hours
  • Requires utmost honesty and dedication

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