Careers in Forensic Accounting

Forensic accounting involves legal investigation and analysis of financial documents of any firm or client, who is involved in a legal dispute. A forensic accountant is an experienced auditor, who acts as a watch-dog of the accounts of a company, in order to keep a check on the frauds. His/Her job is to determine the accuracy of financial statements of an organization. With the growing number of fraud cases, the demand of good forensic accountants is on the rise. The job of a forensic accountant is quiet challenging, as it requires commitment, loyalty, and devotion. Understanding of psychological theories and possessing investigative skills is a must for the aspirant. His/Her conclusion should not be based on any assumption or opinion. Proper research work and detailed study of accounts is required to draw a fair and unbiased conclusion. Keeping in view of the increasing demand for forensic accountants, many institutes in India are offering courses to build a career in the same.

Course Details
Forensic accountant is a specialist, who needs to possess in-depth knowledge and understanding of business reality and the working of the legal system in India. Numerous programs are offered at undergraduate and postgraduate levels. Considering the increase in incidents and diverse nature of forgery in the documents, specialized certificate programs have also been started.

Career Prospects
Forensic accounting offers a wide range of opportunities for people, who possess sound knowledge in financial procedures and have analytical skills. One can find a job with clients, who are charged with allegation of fraud against the government, public, or private business, or a fraud involving insurance claims, real estate, investments, and financial instruments. The proficiency of a forensic accountant is used to detect any financial crime. A person can utilize his/her forensic accounting skills to solve divorce disputes, business carelessness investigation claims, and personal injury claims. Forensic accountants are also hired by accounting companies. Numerous government agencies like the FBI, IRS, CIA, and local government offices, at times, require their services.

Top Colleges Offering UG/PG/Other Courses
In the current scenario, career in forensic accounting has emerged as a lucrative option in India. Several institutions are offering training and education to become a good forensic accountant. Indiaforensic, Pune is one of the few, which conducts a certificate course in forensic accounting and fraud detection. The Institute of Chartered Financial Analysts of India University, Tripura also offers a postgraduate diploma program in forensic accounting.

Remuneration
Forensic accounting is one of the highly paid jobs in India. A beginner can earn a salary between Rs. 25,000 - 30,000 per month, while an experienced person can earn a lot more than that, probably in six figures.