About The Career
Forensic Auditing is also known as Forensic Accounting. Forensic Accounting is ‘the amalgamation of accounting, auditing and investigative skills. A Forensic Auditor is a Certified Public Accountant(CPA) who uses special techniques to detect or prevent certain types of crime for businesses and government agencies. As a Forensic Auditor, you’d find yourself investigating white-collar crimes like fraud and embezzlement. Your accounting skills would enable you to follow money trails and conduct audits of finances. Forensic Auditors are often required to prepare reports on their findings and testify as expert witnesses in trials. Forensic Auditor may require to investigate financial claims for an insurance company, work to detect insider trading and securities fraud and they can be called on to help sort out almost any type of illegal financial activity.
Why Forensic Auditing ?
Growing cyber crimes, failure of regulators to track the security scams, series of co-operative banks bursting – all are pinpointing the need of forensic accounting.
In India, CFAP Examinations are conducted by India Forensic and moderated under the bylaws of Forensic Accounting Research Foundation. You would be required to study business administration, finance, marketing, economics and statistics. Besides, you would be generally required to have your Certified Public Accountant (CPA) certification. Some institutions offer a combined 5-year program for those looking to become CPAs. Forensic accountants can also become a Certified Fraud Examiner or Certified Forensic Accountant. You can take the examinations only after two years of experience
In order to be a Certified Forensic Accountant you must be a Graduate from a recognized University. Besides, you should have a professional experience of at least 3 years and clear the CFAP examination with at least 75% marks.