Forensic Accounting & Fraud Prevention by ICAI Certification
Have you ever wondered - How Good is the Certificate Course Forensic Accounting & Fraud Prevention by ICAI?
In fact: In today's article, we have Toshaj Oza who explains how doing this certificate course from ICAI help him in his career.
Toshaj is Chartered Accountant | Certified Fraud Examiner (CFE) | FAFP - CIT ICAI | DISA - CIT ICAI.
Please note: Every professional body has its own certification course. However, the most popular one is CFE by ACFE.
What are the certification courses to become a Forensic Accountant?
After qualifying as a Chartered Accountant, I decided NOT TO get into – The Traditional Auditing or Tax practice. I wanted to specialize in a field but I did not know which field.
I researched the available alternatives and Forensic Accounting just seemed to be perfect for me.
When I qualified as a Chartered Accountant from The Institute of Chartered Accountants of India (ICAI) I researched and found the following courses available related to forensic accounting:
- Forensic Accounting and Fraud Examiner – IFS EDUCATION DEPARTMENT
- Forensic Accounting and Fraud Prevention as offered by The Institute of Chartered Accountants of India (ICAI)
- CFE by Association of Certified Fraud Examiners – ACFE
- Institute of Certified Forensic Accountants
- Gujarat Forensic Sciences University
- CA ANZ has recently (2018) introduced the Forensic Accounting specialization module in its CA qualification. If a qualified Chartered Accountant has a similar experience they can enrol in this module. For details please visit the links Specializations Forensic Accounting and Member services Forensic.
- There are many Forensic Accounting Degree Courses also available with International Colleges.
- Similarly, Chartered Accountants and CPA Institutes from different countries have their own certifications for members.
Based on my research I decided to pursue the course offered by:
Association of Certified Fraud Examiners (ACFE)– That is a CFE course.
- I also completed the certificate course on Forensic Accounting and Fraud Prevention (FAFP) as offered by ICAI (Since I am based in India I chose the certification course from Indian CA professional body).
Forensic Accounting and Fraud Prevention as offered by The Institute of Chartered Accountants of India (ICAI)
I applied for the post-qualification course on Forensic Accounting & Fraud Prevention (FAFP) immediately after my internship was over. I was the youngest member of that batch.
My main goal of attending FAFP – To meet different Forensic Accountants, speak to them and understand Forensic Accounting from them.
I was also looking for potential colleagues who are into Forensic Practice. It was at the FAFP course I got introduced to Pipara and Co LLP, Ahmedabad (India) and took up the opportunity to work there.
- The certificate is just like a trailer (simple and sweet!). It will just show a glimpse of the field i.e Forensic Accounting & Fraud Detection.
- Although, it is also very useful to meet fellow members who are already practicing in that field or looking for opportunities in that field. It is better for making good connections.
- You would also get a better understanding of how are opportunities by discussing with the lecturers.
- Moreover, your chances of being empanelled in any forensic accounting-related work increases. In fact, I got my first job opportunity in a Forensic Accounting Firm while attending this Certification Course by The ICAI!
- All in all, I would say that it is a good option if you're looking to start a career as a Forensic Accountant. However, as a professional certification, it is certainly not enough. If you want to be recognized as a serious forensics specialist and a fraud auditor, I would personally recommend doing CFE (Certified Fraud Examiner).
- So, my advice to all is – Even if you have no clue about Forensic Accounting join a few courses like this to network and connect to other firms - he concluded.
Please note the above are facts stated from my experience. It may/may not work for everyone so please do your own research before going ahead.
Now It’s Your Turn!!!
And now I’d like to hear from you:
Which strategy from today’s post are you excited to try first? Have you done CFE?
Or maybe you have a question about something you read.
Either way, let me know by leaving a comment below right now. If you have a specific question, comment below.