Introduction to Diploma Forensic accounting
The diploma in forensic accounting is one of the interesting and rewarding program. The comprehensive course is two years duration and prepares the students to become forensic accountants in financial settings. The program provides in-depth knowledge and practical experiences in forensic accounting. The students learn and understand the roles and responsibilities of forensic accountants in the field. The program imparts concepts in forensic accounting to students to become experts in the field their gained knowledge and translate them in financial settings.
Eligibility Criteria
The students who have completed bachelors degree from a recognized university are eligible for the course. They should possess good communication skills and analytical thinking abilities. They need to have strong foundation in mathematics and decision making skills. Risk managers who are interested in developing professional skills in accountancy, business owners, working accountants, finance professionals who lack forensic knowledge are also suitable for the course.
What if forensic accounting? The literal meaning of the word forensic is investigating crimes, and when this is combined with accounting, it is an investigation of crimes related to the accounts of firms, banking frauds, etc. However, the scope of a forensic accountant is rather wider. One of the main functions of such types of accountants is to reveal the cause of embezzlement (misappropriation of funds). They take all procedural steps in digging out all financial transactions, inflows, and outflows of funds, usage of funds, and after analyzing all such financial data if any misappropriation is found, then steps are taken to find out the cause of such misappropriation and finally if the cause of the difference is the misuse of funds or illegal measures taken by accountants, then they reveal the whole theft. This work looks similar to auditing done by Chartered Accountants and hence many of the qualified CAs, CPAs as well as CFAs try to find more job scope in the field of forensic accounting. The scope of this is increasing due to the entry of cybercrimes in the field of accounting, thefts relating to online transactions, etc. Some of the major frauds for which forensic accountants are hired are:
1) Tax evasion(Done to escape from high taxation).
2) Frauds related to securities
3) Money Laundering
4) Bankruptcy
So if you are having a knack for numbers, and are interested in accounts and analysing data, then a Diploma in Forensic Accounting is a good option.
- Dev Arora
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Additional description of Diploma in Forensic accounting
Students learn the methods of investigation and detection techniques to find frauds and provide evidences.The course exposes them to cyber-crime and enables the students the knowledge of working in teams or as an independent consultant. The program builds confidence and prepares them to become forensic accountants in finance sectors. Forensic accountant role involves in investigating fraud activities and they focus on analyzing and controlling of finances related to business. The study subjects includes introduction to forensic accounting, crime and economy, psychology of fraudster, investigation process, evidence gathering, computer crimes fraud prevention, fraud risk assessment, obtaining and evaluating, non-financial evidence. Students are imparted knowledge on types of frauds, effective fraud investigation and its prevention. Focus in laid on gathering intelligence, planning the case and its evaluation,
Job opportunities
Forensic accountants are required in all areas of business at all levels in the country and across the globe. They find jobs in private and public sector organizations, educational institutions, crime detection departments, business establishments, legal sectors, finance sectors, crime prevention departments. The job profiles includes forensic accountant, accountant, risk manager, forensic expert, lecturer, detective
Diploma Forensic accounting Admissions for 2024 - 2025 Academic Year
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