New career Opportunity - Forensic Accounting

फॉरेन्सिक अकाउंटिंग : करिअरची एक नवी दिशा
क्षितिजा राहुल सोमण

Accounting, legal आणि investigative अशी सर्व प्रकारची कौशल्ये एकत्र वापरून न्यायालयात सादर करता येईल असा ठोस पुरावा शोधणे वा मिळविणे म्हणजे "फॉरेन्सिक अकाउंटिंग.' येत्या तीन वर्षांत सुमारे सोळा हजार फॉरेन्सिक अकाउंटंट्‌सची गरज आपल्याला भासणार आहे.

वाणिज्य शाखेकडे गेल्या दोन दशकांत विद्यार्थ्यांचा ओढा वेगाने वाढला आहे. त्यापूर्वी हुशार विद्यार्थी इंजिनिअर किंवा डॉक्‍टरच होणार हे ठरलेले असायचे; परंतु गेल्या काही वर्षांत उद्योग- व्यवसायांना चालना मिळाली. आंतरराष्ट्रीय बाजारपेठ भारतासाठी खुली झाली. माहिती-तंत्रज्ञान क्षेत्राचीही झपाट्याने प्रगती झाली. या साऱ्याचा परिणाम म्हणून CA, CWA, CS सारख्या व्यावसायिक अभ्यासक्रमांकडे हुशार विद्यार्थी आकर्षित होऊ लागला. नाइलाज म्हणून नव्हे, तर जाणीवपूर्वक तो वाणिज्य शाखेचा पर्याय चोखाळू लागला.
Detailed article on Riskpro

Getting deeper into Insurance frauds

“In one case in Andhra, where husband had killed his wife for insurance money, we persisted for 3 years and, finally, after writing to DGP, a young IPS officer – Tarun Joshi – did justice to the case, investigated it thoroughly and charge-sheeted the husband for murder. We feel great sense of satisfaction that we broke the notion that cases charge-sheeted by police cannot be re-opened; we wrote to senior officials of police with enough evidence which led to re-opening of closed cases and arrest of fraudsters, some of them advocates,” said Mr. Ashish Joshi - Head, Special Investigations Unit (Claims) at Tata AIG General Insurance Company Ltd. while speaking to the Riskpro team.

Getting deeper into Insurance frauds

Antifraud Competition

Antifraud competition is one more special feature of this event. Riskpro has also organized an Antifraud Competition for the students. This is a paper writing competition which will require the students to present their views about the financial frauds. There are various topics to be chosen from. They are:

1. Failure of the co-operative banks in India,
2. Combating the ATM and Credit card frauds,
3. Phishing attacks in the banking sector,
4. Nature of frauds in the Information technology sector in India,
5. Fighting the frauds in Insurance sector,
6. Role of the Human Resource department in fighting the employee frauds in the organization,
7. Stock market frauds - classification in a scientific manner,
8. Intellectual property frauds in the pharmaceuticals sector,
9. Background verification and the role of reference check in prevention of the frauds in India,
10. Fighting the devil of frauds in purchasing function,
11. Money laundering and the role of frauds in India,
12. Top ten best things to prevent the corruption in India,
13. Top ten forensic accountants in India,
14. Applying forensic technology and data analysis tools to combat the frauds,
15. Application of internet virus, spy wares and hoaxes to cause financial frauds.

The last date of submission of the paper is 10th of Feb, 2010 and the papers are to be submitted to research.papers@indiaforensic.com This e-mail address is being protected from spambots. You need JavaScript enabled to view it

Rules:
1. All the seminar participants above the age of 18 are eligible for this competition.
2. Papers can be presented both individually and in groups.
3. Group limit: 4 members each group.
4. The document should be in font – Times New Roman, Size – 12 with single spacing in Microsoft Word 97 or 03 or 07 format.
5. The document should not exceed 3 pages.

There will be some very renowned people to judge these papers. All the participants will get Certificate of Participation. The winners will get encouraging rewards from Riskpro. There are total 8 prizes decided for this competition.

Awards:
First Prize : Rs. 3500/-
Second Prize : Rs. 2500/-
Third Prize : Rs. 1500/-
5 consolation prizes of Rs. 500 each.

Read more about this competition

What is Indiaforensic ?

Forensic Accounting in India started with one word –Indiaforensic. A brand that has made a difference in the forensic accounting world. Started in year 2005, Indiaforensic now helps more than 50 business brands across the world to solve global financial fraud related problems by providing them education and customized training solutions. Indiaforensic is known for creating new educational and training products that breaks the industry norms.

All the educational products are created based on the extensive research done by the team of in-house experts and the field experience of the board of the advisors of Indiaforensic.

Indiaforensic is the pioneer in the field of forensic accounting, well connected and networked with the industry. Indiaforensic is known for creating new educational and research products and services that break the industry norms. With about 20 representative offices across the country and a network of more than 400+ members Indiaforensic leads the forensic accounting movement in India.

Indiaforensic Scholarship Program

Indiaforensic - Pioneers of forensic accounting in India announces its scholarship program for the year 2009-10. Every year in the annual antifraud conference Indiaforensic felicitates the members who have contributed exceptionally well to the antifraud community. There are three different awards given to the members of Indiaforensic. Click here for more details about the Indiaforensic awards.
Scholarship Porgram
Current education system in india is sending the accounting students in the market without having the armour of forensic accounting. It is essential to have this armour because in such case the students are likely to be the victims of the frauds as it happened in Satyam or they are likely to be the part of the frauds without thier real knowledge. In such situation the education about forensic accounting is most essential.In order to promote awarenss in the students we have started the scholarship programs for those deserving students who needs to do the course but there are financial constraints.
Eligibility
This scholarship is meant for the students of the MBA/LLB/CA/CS/CWA or any other professional course. In order to apply for this program the student should be able to provide the proof of the education and the proof that he has taken admission for the any of the courses mentioned above.
This scholarship program is only for those students who wish to take up the career in forensic accounting are advised to take a look at this scholarship program.
Number of beneficiaries
Every year Indiaforensic offers scholarship to 10 deserving students who wish to pursue their career in forensic accounting. Amount of scholarship will be decided on the merits of the students. Students will be awarded the scholarships from Rs.8000 to Rs.15000.
Criterion for selection
The scholrship is given purely on the merit criterion. Some of the parameters are what will be the benefit to the antifraud community of giving these scholarships, financial position of the students and the willingness to pursue Indiaforensic certifications. It is completely discretion of the Indiaforensic board to decide the names of students who are eligible for this scholarship program.
Scholarship Program start and end
This scholarship program is not for the endless period. The scholarship applications starts on 1st August and ends on 31st August. There is no change in the acceptance of applications after this date.
Announcements of awardees
Scholarship awardees names will be announced on 15th September'2009 on the Indiaforensic website.
Scholarship application forms
Application forms for scholarship program are available on the website of Indiaforensic.

Brand that quantified fraud losses for India

Indiaforensic - Brand that quantified the fraud losses to India.

Indiaforensic came out with the research which was widely publicized and accepted at various levels as the benchmark which quantified the amount India loses to the occupational frauds. India loses $40 billion to the frauds committed by the employees every year.

In its first employee frauds conference in Bangalore, Indiaforensic chairman, Mayur Joshi announced this amount which was equal to more than 4% of the consolidate income of India.

See some of the interesting headlines in various newspapers in India
Hindu Business Line: "Corporates losing more from within"
The Times of India : "India might be losing $40 billion to frauds"

Brand that Gained glamour for profession

Indiaforensic became the brand that gained glamor for the Anti fraud Industry in India

In past few years Indiaforensic has became the brand which has helped the anti fraud professionals to gain the glamor for the professionals in the country.
There were more than 100 media quotes for Indiaforensic in past three years. But in addition to this we have also helped the members and other industry experts to be quoted in the media.

The Employee frauds conference which focused on various issues and eminent speakers covered the interesting topics in this conference.

Capt. Percy Jokhi - CSO of FirstSource discussed the fraud cases across Banking, BPO and Hospitality Industry.

Selam Raveendhrun who pioneered the fraud control unit efforts in banking industry in India discussed the financial impacts of Frauds. He alerted the industries about India's economy crossing the mark of $ 1 trillion.

Babu Jayendran who mentioned about the software to check the insider data leakage was quoted in Hindustan Times and also in Economic Times.

Yash Maruli who shared some of the real life cases with the actually forged documents was also mentioned in this story of Hindustan Times. Vikram Tiwathia CIO of CII was quoted by Business standard in an exclusive story.