The Council of the Institute of Chartered Accountants of India, recognizing the need for Forensic Accounting and Fraud Detection, in the emerging economic scenario, has decided to launch this Certificate Course on Forensic Accounting and Fraud Detection. Forensic Accounting and Fraud Detection specialisation is in increasing demand considering increasing incidents of cyber-crimes and frauds detection. It is the practice of utilizing accounting, auditing, CAATs/ Data Mining Tools, and investigative skills to detect fraud/ mistakes.

• Assessment of the damages
• Fact finding to see whether fraud/embezzlement has taken place
• Collection of evidence
• Investigating and analyzing financial evidence

• Professional Training (PT) duration will be for 7 days (42 Hours) with a prerequisite to undergo e-Learning of 17.5 hrs via https://learning.icai.org/committee/digital-insights/forensic-accounting-and-fraud-detectio-fafp-2019-l1/
• 2 Module tests will be conducted during the session. (20 Marks each- Total 40 marks)
• Participant have to submit one Research paper, PPT, two forensic investigation reports within two weeks after completion of the PT (60 Marks)
  (Guidelines for Research Paper: https://drive.google.com/drive/folders/1V8OjOtDN4MXykBIrwU70DfUV2ELbEU4Q?usp=sharingt).
• A final online Assessment Test (AT) of 100 Marks which will be held on quarterly basis.

Topics covered during Professional Training of Seven Days

• Course Introduction, Business Fraud, scenario, and fraudster profile
• Discussion on types of red flags, types of fraud situations, Case Studies
• Data Analytics using MS Excel and CAAT Tools (IDEA)
• Digital Forensics and Cyber law
• Introduction to Cyber Crime & International Guidance to Cyber Forensics Laws
• Forensic Accounting & Investigation Standards (FAIS)

The Background Material of the Course may be viewed/ downloaded from:

• Compendium of Forensic Accounting and Investigation Standards (As on 1st July, 2023): https://resource.cdn.icai.org/75009daab030723.pdf
• Implementation Guide on Forensic Accounting and Investigation Standards (As on 1st July 2023): https://resource.cdn.icai.org/75113daab120723.pdf
• Early Signals of Fraud in Banking Sector (Revised 2018 Edition): https://resource.cdn.icai.org/60297daab49123.pdf

Eligibility Criteria to get eligible for AT

• 40 Marks for two Module Tests + 40 Marks for two Forensic Investigation Report + 20 Marks for Research Paper & PPT (TOTAL- 100 Marks)
  Participant have to secure 50% marks in the Module Test and Project Work (i.e. 50 Marks in total out of 100 in aggregate) to get eligible for appearing in the AT. Hence passing of the Module Tests and the Project Work is the precondition for appearing in the FAFD Assessment Test
• The Minimum Attendance Criteria is 90%
• Note: In case the Participant is securing marks less than 50% in Project Work + Module Test in aggregate due to which he / she is not able to get eligible to appear for FAFD AT then the Participant may be allowed to re-submit the Project only with approval of DAAB Secretariat (i.e. two Forensic Investigation Report + Research Paper & PPT) with the re-submission fees of Rs. 500 + GST (https://learning.icai.org/iDH/icai/order/paymentlink/pp/3594/ ). The Topic may be same, or a new Topic can be requested by the Participant.

FAFD Assessment Test

• 100 marks for FAFD AT
  The minimum marks required for passing FAFD AT is 50% i.e. 50 marks out of 100