Forensic Accounting is still in its infancy in India. It is gaining popularity as the number of crimes related to finance and money matters are growing in the country. Forensic Accounting makes use of accounting, auditing, and analysis for investigating financial crimes like scams and busting of co-operative banks. Forensic Accounting offers a new and very exciting career option to those who always wanted to have a thrilling job.
Nature of Work:
The work of forensic accountants is very challenging and requires them to help in settling financial disputes outside the court. They have to make an assessment of the critical financial situation and suggest a possible way out to their clients. They also make plans for eliminating chances of financial problems in the future. Their services are hired by corporate houses and other governmental and nongovernmental institutions.
Qualities That You Need to Have:
One who is aspiring to become a successful forensic accountant should have the ability to think fast and logically for reaching the right conclusion. A child like curiosity is also very important to have in this field along with persistence, organization, self confidence, and discretion. Having good communication and interpersonal skills will also help you a lot in making a mark in this field.
If you want to pursue a career in Forensic Accounting, you should have a bachelor’s degree in commerce from a recognized university. You should also have a professional exposure of about three years so that you can apply for and pass the CFAP examination with at least 75% marks.
Forensic Accounting is a relatively new field in India and not many institutes are offering courses in this. Some prominent institutes are listed below for reference purpose.
Pay packages in the field of Forensic Accounting are very attractive with even a fresher earning up to Rs. 25,000 per month. Those with higher experience and qualifications can earn much more.