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Certified Stock Market Forensic Accountant (CSMFA)

Mayur Joshi
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Certified Stock Market Forensic Accountant (CSMFA)

Riskpro Technology compiles, analyse and research the actions of the stock market regulator, SEBI establish the nexus between the various stock market violators. It creates different analytical reports on the subject of Stock Market Frauds

Certified Stock Market Forensic Accountant (CSMFP) is the specialisation of Forensic Accounting certifications developed by Riskpro. Typically, the Certified Stock Market Frauds professional  is a arbitrator, investor, broker, trader, regulator or a merchant banker or any investment professional or Information Technology consultant who has undergone training to become an expert in the stock market frauds domain, forensic auditing related to financial and capital market sector, litigation support and investigative accounting. Certified Stock Market Frauds Professional is the specialisation of Forensic Accounting certifications customised by Riskpro.

Who is CSMFA ?Typically, the Certified Stock Market Frauds professional is a arbitrator, investor, broker, trader, regulator or a merchant banker or any investment professional or Information Technology consultant who has undergone training to become an expert in the stock market frauds domain, forensic auditing related to financial and capital market sector, litigation support and investigative accounting.

This certification program is one of the foremost certification focusing on the capital market frauds domain .

Certified Stock Market Forensic Accountant

Certified Forensic Accounting Professional is a designation designed and marketed by Indiaforensic Center of Studies. Stock Market Frauds is the third specialisation under the Certified Forensic Accounting Professional course after the Information Technology and Insurance specialisation. This is a useful certification for the professionals looking to understand the gamut of the stock market frauds in the financial sector. Stock market frauds classification covers the frauds in the primary markets ex: Prospectus frauds, IPO frauds and secondary market frauds like Dabba Trading and synchronised trading.

Syllabus for this program is

  1. Classification of Stock market frauds
  2. Global case studies on the stock market frauds
  3. Insider trading and laws
  4. IPO Scams
  5. Frauds by the promoters

Some of the techniques of stock market frauds are scalping, parking or churning which are discussed here in this study material. This material also discuss the Mauritius treaty and its impact on the stock markets and have covered the basics of laundering in stock markets.

Download the Application form for the Certified Stock Market Frauds Professional (CSMFP). After making the payment online, kindly send the completed application form to the office of Indiaforensic.

The list above is just illustrative and there are 8 chapters which discuss the stock market frauds in depth. For more information on this certification program please contact us on +91-9766594401 or write to us on contactus@riskpro.co.in

http://riskpro.co.in/shop/certified-members/certified-stock-market-frauds-professional-2/

Career Path of Forensic Accountant

Mayur Joshi
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Career Path of Forensic Accountant

Forensic Accounting is emerging as the new career option for those who are looking to find some excitement in the commerce stream. It is emerging as the career option available to commerce and management students to get into relatively new professional domain of Forensic Accounting.

Career Path of forensic accountant

Forensic Accountants are the experienced auditors, accountants, and investigators of legal and financial documents that are hired to look into possible suspicions of fraudulent activity within a company; or are hired by a company who may just want to prevent fraudulent activities from occurring.

In law matters accounting, auditing and investigative skills used for forensic accounting. In this branch of accounting mainly financial records of a client or firm who trapped in a legal matter is verified and evaluated. There are three main sections – litigation, investigation and solution the dispute. The professionals in these fields are called Forensic accountants. They use professional accounting, law, finance and investigation related techniques to evaluate the validity of any activity. Forensic Accountants are the experienced auditors who protect the accounts of an organization and stop any type of fraud.

Education as forensic accountant

For Certified Forensic Accountant it is necessary to be a  student from a recognized institution/university, should have three years professional experience and has passed Certified Forensic Accounting Professional (CFAP) Exams of Indiaforensic Center of Studies with minimum 75% of marks.

But if the student is not experienced and have completed graduation from the recognized university then he needs to clear the entrance exam of certification program which is also known as foundation course on forensic accounting. Foundation course is the first step to move on the career path of forensic accountant.

To walk on the career path of forensic accountant, the main courses are Foundation Course on Forensic Accounting and Fraud Detection,  Certified Forensic Accounting Professional, Certified Anti-Money Laundering Expert, Certified Bank Forensic Accounting, Certified Stock Market Forensic Accountant and Certified Insurance Forensic Accountant.

Services offered by forensic accountants

Forensic Accountants render different services which includes due diligence, asset tracing, Financial data analysis, analysis of financial evidence, digital forensic, report writing, testifying as an expert witness in the court of laws,
eliciting other experts’ assistance, damage assessment, Forensic intelligence gathering and Business valuation etc. These services are explained in a separate article on role of forensic accountants.

Job Opportunities

Forensic Accountants can work in Big Accounting Firms where most of the works are related to the investigation of the merger and sequestration, to participate in specialized audit and other legal assistance, to investigate about the economic crime, tax and even investigate about the terrorist.

These professionals have to fulfill their role in the matters of divorce, matter of trade carelessness, investigation of claims and personal injury. These professionals can work with Non –profit organization (Includes government and law implementation agencies), the in States and with those persons who need Forensic accounting services.

 

Certified Vigilance and Investigation Expert

Mayur Joshi
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Vigilance is no more a punitive function, it is evolving and so are we. One of the core functions of vigilance is to have fraud control which contributes significantly to the growth of the business.

Click here to Register

Many organizations have gone ahead and have started separate function to control to frauds. The change is towards preventive and proactive vigilance. In order to prevent the frauds it is essential that the companies understand the warning signals of the frauds. A research conducted by Indiaforensic in year 2008 is an exhaustive composition of all such warning signals or the red flags in the corporate environment to commit the frauds.

In order to prevent the frauds it is essential that the companies understand the warning signals of the frauds. A research conducted by Indiaforensic in year 2008 is an exhaustive composition of all such warning signals or the red flags in the corporate environment to commit the frauds. This research is the core competency of Certified Vigilance and Investigation Expert program, which is the composite program for the vigilance officers across the country.

Certified Vigilance and Investigation Expert program is divided in three aspects

  1. Corporate frauds
  2. Bank Frauds
  3. Anti-Money Laundering

The Certification in Bank Forensic Accounting builds on the skills acquired in the Graduate certificate by introducing a global/international focus and specialized areas including banking, police, transnational fraud, financial terrorism and eCommerce.
On completion of the course participants will gain the skills to:

  • Identify indicators of fraudulent activities
  • Undertake forensic analysis and assessment of risk factors
  • Predict/anticipate fraud
  • Analytical skills will involve:
  • Investigative methods
  • Analysis of financial information
  • Systems methodology for investigation
  • Statistical techniques

Eligibility for CVIE

Vigilance officers can be certified by only taking the examination. Any member who fulfils the following criterion is eligible for the certification

  1. Is a graduate from recognized university in India
  2. Has completed two years in the vigilance or audit or fraud control or forensics
  3. Any person meeting this criterion can give the examination of CVIE.

There is no honorary certification or waiver of the examination for the vigilance officers. However, we salute the recognition of the Central Vigilance officers.

Reaching the position of the Chief Vigilance officer is an achievement in itself. Chief Vigilance officers whose names appear on the websites of the organizations / PSUs/ Banks are eligible for the waiver of the examination. The members who are working in the public/private sector or wish to make their career in vigilance or investigation sector can apply for the certification.

Please provide following documents along with the application form

  • Self attested Application form duly filled up
  • Copies of Graduation certificates
  • Experience letter from the supervisor/ colleague
  • Please affix a photograph on the application form
  • Examination Application form for Certified Vigilance and Investigation Expert FORM.

If you donot meet the above criterion but are curious to take up the examination please write to us at khimanshu@fraudexpress.com with your specific questions, comments and feedback.

Syllabus for CVIE

Certification in Vigilance and Investigation emphasize a forensic rather than a control-based or risk management approach to the analysis of governance and the possibility of fraud. This program also helps the Vigilance officers in the preventive vigilance. The scope and content of all subjects extend well beyond ‘narrow’ focus of fraud prevention and provide an opportunity to study and acquire skills in investigative techniques and the collection of data as well as the skills necessary to not only identify poor management but also unethical and fraudulent activities.
This is probably the first certification in the vigilance and investigation in India and covers following chapters primarily.

  • Frauds in Advances or the traditional frauds in India
  • Technology related frauds in India
  • Money Laundering techniques
  • Frauds related Negotiable instruments
  • Legal provisions that deal with the frauds in India
  • Tools to investigate the frauds
  • Drafting the fraud policies
  • Case studies on the bank frauds
  • Research on Early warning signals of corporate frauds

The above syllabus is updated frequently based on the new trends and developments in banking industry and the banking frauds. The specially designed 600 + pages banking frauds manual is provided to the participants who register for the Certification in the forensic accounting.

Program Fees

Fees for this program are Rs.35000 for the Vigilance officers in India or US$ 575. This includes the cost of the certificate, study material, access to the resource website and the examination password.

CFAP is the Benchmark for Forensic Accountants

Mayur Joshi
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CFAP is the Benchmark for Forensic Accountants

If you are working with a Big Four accounting firm, Riskpro reduces your pains to be a Certified Forensic Accounting Professional.

Customisable Training Material

Only structured for professionals working in audit, risk, advisory services teams of any of the global accounting firms listed below. Under this scheme the Certification can be customised to meet the requirements of the professionals from accounting firms. Accounting firm professionals may specialise in couple of different verticals including Banking, Insurance and Stock markets. You can chose for the specialisation without any additional cost.

Techno- Commercial Specialisation

Professionals working for Forensic technology teams of accounting firms listed below and working on the disk imaging, analysis can widen their scope of work by opting for CFAP with Information Technology Specialisation, which will help to build your techno commercial capabilities.

Grand fathering Option

Professionals with 8 years of experience are eligible for grandfathering option. Under the grand fathering option, for a limited period of time, professionals from accounting firms listed below can apply for the waiver of examination if he meets following criteria

  • Professional should have more than 8 years of experience in forensic technology, forensic accounting, investigations, forensic audits or risk management
  • He should provide atleast two case studies on the fraud detected or investigated without naming the client. The objective here is to ascertain the nature of experience the candidate have.
  • He should provide two reference letters from any of his colleagues from the same employer or the previous employers.
  • Final decision about granting the waiver to the applicant is with the board of Indiaforensic Center of Studies

Media Panel

Professionals at the rank of  director and above are eligible to be a part of our media panel which would be referred by various anti-fraud media companies globally.

Audit firms

Professionals from the following audit firms are eligible for the Customization in the certifications.

  1. KPMG
  2. Deloitte
  3. PricewaterHouseCoopers
  4. Ernst and Young
  5. BDO
  6. Grant Thorton
  7. Crowe Howarth

If you are interested write to us on contactus@riskpro.co.in or call us on +91-9766594401

CFAP is the forensic accounting benchmark

 

CFAP for Insurance Professionals

Mayur Joshi
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Certified Forensic Accounting Professional is the premier certification in India in the antifraud domain. Certified Forensic Accounting Professional (Insurance) is a person who has successfully completed the examination conducted by Indiaforensic Center of Studies to become an expert in the field of forensic accounting, forensic auditing, litigation support and investigative accounting with the specialisation in the Insurance domain.

Certified Forensic Accounting Professional (Insurance) is a designation awarded by Indiaforensic Center of Studies and moderated by the Forensic Accounting Research Foundation. The Forensic Accounting Research Foundation is a member-based Indian organisation dedicated to providing forensic accounting and forensic auditing education and training with presence in more than 7 countries including Nigeria, Oman, Qatar, UAE, Uganda and others. Certified Forensic Accounting Professional is the program designed to equip the Insurance professionals and the antifraud professionals to effectively fight the Insurance sector frauds. Participants will be given a broad-based introduction to the nature and purpose of forensic accounting. The scope and content of all subjects extend well beyond ‘narrow’ focus of fraud prevention and provide an opportunity to study and acquire skills in investigative techniques and the collection of data as well as the skills necessary to not only identify poor management but also unethical and fraudulent activities.

Manual on Insurance Frauds, which classifies the Insurance sector Frauds in Indian insurance companies is the key learning aspect of this program. In addition the participants also get to learn the Red flags of the various insurance fraud schemes based on the theme that frauds are committed in “Life Insurance” or “Non-life insurance”. This certification covers both these sectors of Insurance. Additionally, the study material designed for the course also discuss the methods for prevention, detection and investigation of the frauds in the Indian insurance sector

CPE Compliance:
Certified Forensic Accounting Professional degree is a certification offered by Indiaforensic Center of Studies to those professionals who have scored atleast 75% in the examinations conducted by Indiaforensic Center of Studies. All the professionals completing the examination after 31.12.2012 are governed by the CPE norms. Every CFAP needs to undergo the training of 20 hours to maintain the professional certification.

To Summarise, professional can be termed as Certified Forensic Accounting Professional:

  1. When he successfully completes the examination
  2. Abides by the by-laws and code of conduct of Indiaforensic Center of Studies
  3. Completes 20 CPE hours every year
  4. Be of a high moral character

Certified Bank Forensic Accountants

Mayur Joshi
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Certified Bank Forensic Accountant (CBFA) is a banker or a banking professional or a banking consultant who has undergone training to become an expert in the banking frauds domain, forensic auditing related to banking sector, litigation support and investigative accounting. This program is one of the foremost certification focusing on the frauds in the banking and financial institutions domain.

Certified Bank Forensic Accountant (CBFA) is a designation awarded by Indiaforensic Center of Studies and moderated by the Forensic Accounting Research Foundation. The Forensic Accounting Research Foundation is a member-based Indian organisation dedicated to providing forensic accounting and forensic auditing education and training with presence in more than 7 countries including Nigeria, Oman, Qatar, UAE, Uganda and others.

Indiaforensic Center of Studies offers three certifications viz.

  • Certified Anti-Moneylaundering Expert
  • Certified Bank Forensic Accounting
  • Certified Forensic Accounting Professional

Overview of CBFA

This course was started when Forensic Accounting was in nascent stage and it was difficult to find and retain the forensic accounting professionals. Today, In India multinational banks are required to conduct the forensic audits of the distressed assets. Private sector banks have their own fraud control teams to manage credit card and other payment frauds and the need for the forensic accounting professionals in the banking sector is ever growing.
Bank Forensic Accounting is an endeavor to meet the growing demand of the forensic accountants in the banking sector. As a first step towards this initiative “Indiaforensic – Pioneers of forensic accounting education in India” has forayed into Bank Forensic Accounting. The primary reason for choosing banking sector is very simple. India have witnessed many frauds like Harshad Mehta, Ketan Parekh driven stock market frauds, CRB driven NBFC fraud and Home trade driven rogue trading fraud. In all of these major frauds banks were the ultimate victims.

Syllabus for CBFA

  1. Identify indicators of fraudulent activities
  2. Undertake forensic analysis and assessment of risk factors
  3. Predict/anticipate fraud
  4. Investigative methods
  5. Analysis of financial information
  6. Systems methodology for investigation
  7. Statistical techniques

Register online for CBFA

Please visit the website and register online for Certified Bank Forensic Accountants program offered.

CBFA – Certified Bank Forensic Accounting

 

 

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