Why adding four letters CFAP is important for accounting students ?

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Forensic accounting, forensic accountancy or financial crimes is specially practiced area of accounting to investigate that the firms are engaged in financial reporting misconduct. As the scope of forensic accouting is increasing day by day, the awarenwss among the accounting students is also increasing. Forensic accounting defines various skills and methods to determine the financial reporting misconduct that has occurred. Indiaforensic initiated the CFAP Program is the program designed to equip the accounting students and the professionals for the battle against the frauds.

Today, no domain is spared from misconduct, fraudulence and injustice.  So the scope of forensic accounting is increasing day by day. Forensic accounting is the assistance of finance professionals to settle disputes concerning allegations, fraudulence, suspicion of fraud and misconduct in business.

The CFAP certification is regarded as a turning point for Indiaforensic accreditations which will help the institutions to combat money laundering as well as the illicit activities. In the CFAP syllabus there are 20 chapters which deal with various elements of forensic accounting in India. Following mentioned below is just the outline of the course syllabus. On registering, Certified Forensic Accounting Professional (CFAP) applicants will be able to understand Overview of Forensic Accounting, Understanding the red flags of different fraud schemes, how the frauds are investigated, which tools are used to investigate the frauds, what are financial statements, difference between forensic accounting and fraud examiner, what is fraud, financial statement frauds, stock market frauds, different type of theories used to fight against the companies etc.  The other part of the program deals with the certification exam.  It is an online exam in which it will test the ability of the individual to apply and understand the real life scenario, Contextualized situations that take place. 75% is the minimum passing criteria.  CFAP is regarded as one of the few offerings in forensic accounting these days.”CFAP” before your name opens a wide opportunity in the Anti- Fraud domain.

India witnessed significant growth in the frauds. Banks have witnessed the alarming growth of Non Performing Assets, Insurance companies are bleeding due to the Claim frauds and stock market regulators are actively penalizing the insider traders. Forensic Accountants are called in for the frauds perpetrated by the insiders and forensic auditors are called in to audit the books to identify the red flags of frauds.

Certified Forensic Accounting Professional is a Gold standard certification in the forensic accounting domain. Indiaforensic is one of the best institute of certified forensic accountants. CFAP is one of the toughest courses in the country. Started with focus on India, today the members of Indiaforensic are present in more than 7 countries including Nigeria, Oman, Qatar, UAE, Uganda and others.”

Mayur Joshi
Mayur Joshi
Mayur Joshi is a forensic accounting evangelist based out of Pune. He regularly contributes to the Regtechtimes. He is the forensic accounting and financial crimes evangelist in India who is instrumental in designing india's first certification program in Anti Money Laundering. He is the author of 7 books on the financial crimes and compliance subjects.

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