FORENSIC ACCOUNTING IN INDIA: AN EXPLORATION OF EDUCATION, PRACTICE, AND CAREER OPPORTUNITIES

Nirali Dave; Dharini Patel

doi:10.55955/220002

Authors

Ms. Nirali Dave GLS University https://orcid.org/0000-0001-8416-7753
Dr. Dharini Patel GLS University

DOI:

https://doi.org/10.55955/220002

Keywords:

Forensic accounting, Forensic Accounting Education, Career Path

Abstract

Forensic accounting gained popularity in India following the Enron, Rajat Gupta, and Satyam cases. Few chartered accounting firms specialize in fraud investigation as a practice area. The big four consulting firms Deloitte, KPMG, PricewaterhouseCoopers, and Ernst & Young control a large portion of this industry. Forensic accounting should be included in the curriculum at undergraduate and postgraduate levels across the country. This will help corporations and governments keep a lid on crime at the outset, writes Shashank Joshi. Forensic accounting is an area where forensic accountant examines financial information to detect and investigate financial fraud. ICAI has incorporated a Certified Course on Forensic Accounting and Fraud Detection for practicing CAs. 40% of the top American accounting firms are expanding their offerings to include fraud and forensics. Many accountants in India lack the expertise and knowledge required to conduct forensic accounting or fraud detection effectively. This course is crucial in India because it ensures that accountants can provide reliable testimony in court and during criminal investigations. Through this course, accountants in India can learn how to apply their accounting, auditing, and investigation skills to spot financial irregularities and gain a thorough understanding of the idea of forensic accounting. CFAPs are qualified individuals with the knowledge to look into cases of fraud, money laundering, and other financial crimes. The primary goal of CFAPs is to close the communication gap between financial data and legal proceedings. They do this by utilizing the most recent tools and technologies. A forensic accounting course may be included as a separate subject in the university curriculum.

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