| Forensic auditor courses catching up in India |
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Mumbai, 24 April If you thought only a chartered accountancy programme will help you become an auditor, looking into a company's books both from the financial and the forensic angle, you might be wrong. Courses particularly pertaining to forensic auditing are now available in India that cater to the forensic accounting and auditing segments. Organisations such as education and training provider Indiaforensic, Institute of Chartered Accountants of India ( ICAI) and Association of Chartered Certified Accountants ( ACCA) provide courses on forensic auditing that will have individuals act as watchdogs in companies. Mayur Joshi, director, Indiaforensic. com said the introduction of the Companies Act, 2013 has a significant impact on fighting and preventing frauds. Under section 245 ( 1g) of the new Companies Act, depositors and members of a company can claim damages from auditors, management and other consultants for the wrongdoings by the company and its management. Many consultants and senior executives are expected to become part of the certified community. Further, under section 140 the auditors and their firm would be jointly liable for any frauds in the books of accounts and many auditors are likely to become forensic accountants in the days to come to avoid being caught on the wrong foot. Joshi said under section 149( 12), independent directors would be held liable for the frauds in their knowledge and " we envisage that there would be anumber of independent directors who would be looking to understand the techniques of fraud investigations by way of training and certifications". Indiaforensic offers the programme for certified forensic accounting professional (CFAP). CFAP is a person who has undergone training to become an expert in the field of forensic accounting, forensic auditing, litigation support and investigative accounting. CFAP is adesignation awarded by Indiaforensic Centre of Studies and moderated by the forensic accounting research foundation. Generally, applicants for CFAP certification have a minimum of a bachelors degree and should possess at least three years of professional experience, and it is a programme of 180 days at Indiaforensic. Under section 177 of the Companies Act, 2013, the audit committee will have the authority to investigate and the power to obtain professional advice from external sources and have full access to information in the records of companies. For full report, visit www. business- standard. com certified forensic accounting professionals is growing IN DEMAND |Forensic accountancy positions tend to be available in larger practices or specialist accountancy practices. Positions are also available in some government agencies and regulatory bodies |Candidates could enter forensic accountancy from other areas of an organisation such as compliance or antimoney laundering. It is expected that forensic accountants are qualified accountants and are members of a professional body such as ACCA |ACCA, ICAI and Indiaforensic have courses on forensic auditing. However, experts said this coupled with a Chartered Accountancy course will be beneficial BUSINESS EDUCATION |
Source BusinessWorld
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