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Forensic accounting, forensic accountancy or financial forensics is the specialty practice area of accounting that describes engagements that result from actual or anticipated disputes or litigation. “Forensic” means “suitable for use in a court of law”, and it is to that standard and potential outcome that forensic accountants generally have to work. Forensic accountants, also referred to as forensic auditors or investigative auditors, often have to give expert evidence at the eventual trial. All of the larger accounting firms, as well as many medium-sized and boutique firms and 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, fraud, Anti-Money Laundering, construction, or royalty audits.

Financial forensic engagements may fall into several categories. For example:

  • Economic damages calculations, whether suffered through tort or breach of contract
  • Post-acquisition disputes such as earn outs or breaches of warranties
  • Bankruptcy, insolvency, and reorganization
  • Securities fraud
  • Tax fraud
  • Money laundering
  • Business valuation
  • Computer forensics/e-discovery

Forensic accountants often assist in professional negligence claims where they are assessing and commenting on the work of other professionals. Forensic accountants are also engaged in marital and family law of analyzing lifestyle for spousal support purposes, determining income available for child support and equitable distribution.
Some forensic accountants specialize in forensic analytics which is the procurement 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.

Who Should Attend?

  • Financial professionals with no experience in forensics
  • Accountancy professionals
  • Business owners and top-level managers
  • Entrepreneurs
  • Risk managers and consultants
  • Anyone interested in developing professional-level accountancy skills

Course Outline

Main Topics Covered are as follows:
  • Introduction to financial statements and key ratios & maturity of financial reporting
  • Role of internal audit in fraud detection
  • Overview on forensic auditing and accounting
  • Corporate frauds: Financial statement frauds and corporate frauds
  • Case studies on banking frauds & corporate frauds
  • Laws related to Forensic & Live studies of cyber security threats, red flags etc
  • Tools linked with forensic auditing and accounting
  • Practical session and feedback

Course Objectives

Forensic auditing is important because it presents financial statement and transaction information in a way that is suitable for court. Engagements relating to criminal matters typically arise in the aftermath of fraud. They frequently involve the assessment of accounting systems and accounts presentation in essence assessing if the numbers reflect reality.
  • Understanding the meaning and concept of forensic auditing & accounting
  • Framework and coverage of forensic management
  • Scope of internal auditors in fraud management
  • Financial statement frauds and related misstatements
  • Various fraud case studies

General Notes

  • All our courses can be facilitated as Customized In-House Training course.
  • Course duration is flexible and the contents can be modified to fit any number of days.
  • As for Open Enrolment Courses, we offer our clients the flexibility to chose the location, date, and time and our team of experts who are spread around the globe will assist in facilitating the course.
  • The course fee includes facilitation, training materials, 2 coffee breaks, buffet lunch and a Certificate of successful completion of Training.
  • FREE Consultation and Coaching provided during and after the course.

 



Course Testimonials

 

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Course Curriculum

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