Course Introduction

FSP 302 : Forensic Accounting

  • Course Outline
  • Curriculum
  • FAQ
  • Case Studies
  • Reviews

Forensic Accounting, also termed as Forensic Accountancy or Financial Forensics is the specialty practice area of accounting that defines engagements that result from genuine or projected disagreements or litigation. "Forensic" means "apposite for practice in a court of law", and it is to that standard and impending outcome that forensic accountants usually have to toil. Forensic accountants, also referred to as Forensic Auditors or Investigative Auditors, often have to give an expert evidence at the subsequent trial. All of the larger accounting corporations, as well as many medium-sized firms, as well as various Police and Government agencies have specialist forensic accounting departments. Within these groups, there may be further sub-specializations: some forensic accountants may, for example, just specialize in insurance claims, personal injury claims, and fraud, construction, or royalty audits.


Forensic Accounting cases may fall into several categories. For example:

>>  Economic damages calculations, whether suffered through offense or breach of contract;

>>  Post-acquisition disputes such as earn outs or breaches of warranties;

>>  Bankruptcy, indebtedness, and reorganization;

>>  Securities fraud;

>>  Business assessment; and

>>  Computer forensics/e-discovery.


Forensic accountants often contribute in professional negligence claims where they are evaluating and observing on the work of other professionals. Forensic accountants are also engaged in marital and family law of scrutinizing lifestyle for spousal support purposes, determining income available for child support and unbiased distribution.


Engagements relating to criminal matters typically arise in the repercussion of fraud. They frequently involve the valuation of accounting systems and accounts demonstration—in essence judging if the numbers reflect authenticity.


Some forensic accountants major in forensic analytics which is the obtaining and analysis of electronic data to reconstruct, detect, or otherwise support a claim of financial fraud. The main steps in forensic analytics are (a) data collection, (b) data preparation, (c) data analysis, and (d) reporting. For example, forensic analytics may be used to review an employee's purchasing card activity to assess whether any of the purchases were diverted or divertible for personal use.


After the thorough sessions provided under this course, one would be able to assess and judge the usefulness of Forensic Accounting in the cases pertaining to auditing and financial disputes or litigation.

  • Level I : Forensic Accounting

    MODULE 1 – FORENSIC ACCOUNTING

    In Forensic Science, Forensic accounting is one of the broadly emerging field. Module would be introducing you to the overview of forensic accounting, definition, reasonableness, difference between conventional accountants and forensic accountants and tenets of forensic accounting.

    MODULE 2 – FRAUD

    Forensic accountants combine their knowledge with investigative assistances, using this unique combination in hearing etc. Module comprises the introduction of frauds, its types, techniques and psychology of a fraudster, typical corporate financial fraud, corporate fraud nature, white collar fraud, fraud against organizations, consumer frauds etc.

    MODULE 3 – FRAUD INVESTIGATION

    Financial investigation basically deals with the corporate fraud detection, uncovering corporate fraud, red flags of recognizing employee and management fraud, applying fraud auditing standard, financial statement fraud analysis, financial statement frauds; liability and asset, inadequate disclosure frauds, environment of business, conducting internal corporate investigation and interviewing and interrogating.

    MODULE 4 – EVIDENCE COLLECTION, ANALYSIS AND ADMISSIBILITY

    Forensic accounting and auditing techniques include certified fraud examiners, evidence collection and analysis, principle of CIA, forensically sound evidence collection, evidence handling, special investigations, investment scams, money laundering, marriage and divorce, tax fraud, resolution of fraud, excess bank charges auditing, the role of questioned document examiner and fingerprint examiner.

    MODULE 5- CYBER AND IP THEFT

    Under this module, students would be taught about the advancement and technologies, the largest credit card heist in history, advancement of technologies opportunities for fraudsters, intellectual property theft etc.

  • Level II : Forensic Accounting

    MODULE 1 – FORENSIC ACCOUNTING

    In Forensic Science, Forensic accounting is one of the broadly emerging field. Module would be introducing you to the overview of forensic accounting, definition, reasonableness, difference between conventional accountants and forensic accountants and tenets of forensic accounting.

    MODULE 2 – FRAUD

    Forensic accountants combine their knowledge with investigative assistances, using this unique combination in hearing etc. Module comprises the introduction of frauds, its types, techniques and psychology of a fraudster, typical corporate financial fraud, corporate fraud nature, white collar fraud, fraud against organizations, consumer frauds etc.

    MODULE 3 – FRAUD INVESTIGATION

    Financial investigation basically deals with the corporate fraud detection, uncovering corporate fraud, red flags of recognizing employee and management fraud, applying fraud auditing standard, financial statement fraud analysis, financial statement frauds; liability and asset, inadequate disclosure frauds, environment of business, conducting internal corporate investigation and interviewing and interrogating.

    MODULE 4 – EVIDENCE COLLECTION, ANALYSIS AND ADMISSIBILITY

    Forensic accounting and auditing techniques include certified fraud examiners, evidence collection and analysis, principle of CIA, forensically sound evidence collection, evidence handling, special investigations, investment scams, money laundering, marriage and divorce, tax fraud, resolution of fraud, excess bank charges auditing, the role of questioned document examiner and fingerprint examiner.

    MODULE 5 – FRAUD RISK MANAGEMENT

    This module focusses on the management and investigation of fraud, conducting fraud risk assessments, implementing fraud risk management programs, roles & responsibilities for FRM, identifying red-flags, fraud prevention policy and the implementing continuous monitoring.

    MODULE 6 – FORENSIC FRAUD AUDITING TECHNIQUES

    Forensic auditing denotes to the specific processes carried out in direction to produce evidence. The techniques are used to recognize and to gather evidence to verify cases. In this module, the students will be introduced with case studies of fraud investigations, auditing techniques, six auditing methods such as tiger team test, application of Benford’s theorem, use of barium test, data analytics for fraud investigation, application of inverse logic and use of space-time dimension in data evaluation.

    MODULE 7- CYBER AND IP THEFT

    Under this module, students would be taught about the advancement and technologies, the largest credit card heist in history, advancement of technologies opportunities for fraudsters, intellectual property theft etc.

    MODULE 8 – FORENSIC ACCOUNTANT AS AN EXPERT WITNESS

    Expert witness assignments and witness will be introduce you to the forensic report as evidence in a court of law, approaches for the development of the forensic report and the various formats of the forensic report.

  • Level III : Forensic Accounting

    MODULE 1 – FORENSIC ACCOUNTING

    In Forensic Science, Forensic accounting is one of the broadly emerging field. Module would be introducing you to the overview of forensic accounting, definition, reasonableness, difference between conventional accountants and forensic accountants and tenets of forensic accounting.

    MODULE 2 – FRAUD

    Forensic accountants combine their knowledge with investigative assistances, using this unique combination in hearing etc. Module comprises the introduction of frauds, its types, techniques and psychology of a fraudster, typical corporate financial fraud, corporate fraud nature, white collar fraud, fraud against organizations, consumer frauds etc.

    MODULE 3 – FRAUD INVESTIGATION

    Financial investigation basically deals with the corporate fraud detection, uncovering corporate fraud, red flags of recognizing employee and management fraud, applying fraud auditing standard, financial statement fraud analysis, financial statement frauds; liability and asset, inadequate disclosure frauds, environment of business, conducting internal corporate investigation and interviewing and interrogating.

    MODULE 4 – EVIDENCE COLLECTION, ANALYSIS AND ADMISSIBILITY

    Forensic accounting and auditing techniques include certified fraud examiners, evidence collection and analysis, principle of CIA, forensically sound evidence collection, evidence handling, special investigations, investment scams, money laundering, marriage and divorce, tax fraud, resolution of fraud, excess bank charges auditing, the role of questioned document examiner and fingerprint examiner.

    MODULE 5 – DIGITAL FRAUD

    Computer forensic and computer crimes would be introducing you to the computer forensic with case studies, e-accounting and reporting, general prevalent climate of computer crimes, fraud in e-commerce, ATM scams, online transaction frauds, insurance and capital market fraud, nature of computer crimes, computer criminals, prevention mechanism, investigating computer crimes, constitute investigating team and known impediments. It will comprises multiple case studies on bank frauds.

    MODULE 6 – FRAUD RISK MANAGEMENT

    This module focusses on the management and investigation of fraud, conducting fraud risk assessments, implementing fraud risk management programs, roles & responsibilities for FRM, identifying red-flags, fraud prevention policy and the implementing continuous monitoring.

    MODULE 7 – FORENSIC FRAUD AUDITING TECHNIQUES

    Forensic auditing denotes to the specific processes carried out in direction to produce evidence. The techniques are used to recognize and to gather evidence to verify cases. In this module, the students will be introduced with case studies of fraud investigations, auditing techniques, six auditing methods such as tiger team test, application of Benford’s theorem, use of barium test, data analytics for fraud investigation, application of inverse logic and use of space-time dimension in data evaluation.

    MODULE 8 – FORENSIC INTERVIEWING AND INTERROGATION

    Interview and interrogation is to acquire information relevant to a particular case or occurrence. Forensic investigators are continually receiving information to investigate the legal matters. It will comprises the formal interviews, the nature and purpose of forensic interviews, difference between interviews and interrogations, types of witnesses, the environment of the interview room and the use of video and audio recording.

    MODULE 9 - CYBER AND IP THEFT

    Under this module, students would be taught about the advancement and technologies, the largest credit card heist in history, advancement of technologies opportunities for fraudsters, intellectual property theft etc.

    MODULE 10 – COMBAT FRAUDS

    Under this module, students would be taught about the introduction of fraud audit, strategies to fight fraud against company, proactive fraud audit and building an anti-fraud action program.

    MODULE 11 – FORENSIC ACCOUNTANT AS AN EXPERT WITNESS

    Expert witness assignments and witness will be introduce you to the forensic report as evidence in a court of law, approaches for the development of the forensic report and the various formats of the forensic report.

    MODULE 12 – LEGAL SYSTEM

    Forensic is all about law and court related subject. It will introduce you to the legal environment system, testifying as an expert witness evidence act 2011, CBN guidelines etc.

  • What is Forensic Accounting?

    In Forensic Accounting, the learners will be acquainted with the cases that come under the Forensic Accounting topic. Learners will be taught as how to deal, handle and proceed with the cases involving frauds related to finances and accounts.

  • How can I become a Forensic Accountant?

    The learner is subjected to thoroughly searched content to provide him/her the comprehensive knowledge of accounting from the forensic point of view. The learners are groomed through continuous evaluation of their learning to bring them closer to being an Expert. 

  • What are the responsibilities of a Forensic Accountant?

    The Forensic Accountant has to look after the economic damages of the clientele, post-acquisition disputes, bankruptcy, frauds, assessment of the business, etc. They have to manage the overall financial lookout and opine for the same for the client. 

  • What are the scope and the opportunistic aspects of the course?

    A Learner can be appointed as a Forensic Accountant in Vigilance Department of various governing bodies, Government and Private Sectors and as a trainer of Forensic Accounting in the various institutes offering Forensic Science courses for undergraduate and master’s students.

  • Where can I contact in case of any queries?

    You can write to us at education@sifs.in or call us at +91-1147074263 or WhatsApp us +91-7303913002 or +91-7303913003.


Employee Fraud Investigation

An agency was retained by a locally-owned casino to investigate and quantify the losses to support an employee theft insurance claim that was perpetrated by a key employee.  Following that investigation, we assisted the State of Nevada Gaming Control Enforcement Division in its submittal of the matter for prosecution, and then supported prosecution of the suspect by the Clark County District Attorney’s Office.

Procedures:

Procedures included performing background research on the suspect, considering the financial and accounting processing environment, identifying and isolating suspicious transactions and those subject to influence by the suspect, testing selected transactions, and quantifying the theft loss.

Planning Phase:

Background research; evaluate and understand financial and accounting processing systems of the casino/hotel that may have been preyed upon; identify transactions subject to potential manipulation; conduct interviews of management and the suspect.

Investigative Accounting Procedures:

Analyze the support for identified cash payouts; physical inventory of all computer equipment; independent assessment of purchase quantities and costs; analyze falsified invoice files from a recovered compact disk.

Quantify the Theft Loss:

The loss amount of approximately $500,000 was determined by aggregating fabricated invoices that had been identified based on our independent physical inventory and estimating the inflated purchase costs using financial analyses and extrapolation.

Priya Mary Thomas

4

The course was real good and was very informative which will be useful for further studies and practice in the field of Forensic accounting. 

Anamika Kumari

4

The course was very much interesting and knowledgeable. Especially different types of content made this course more interesting.

Manishankar

5

It's a very grateful online course program for students

Deena Joe K A

5

Very Informative Course and hoping to take part in others too. Thank you so much for providing this even at online platform. 

Fulmita Deb

5

The course was very informative and useful. My best wishes to the whole team.

 

Instructors

Dr. Ranjeet Singh

Dr. Ranjeet Singh

Managing Director

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