Welcome to the World of Forensic Accounting & Forensic Auditing
As we entered the 21st Century with new hopes and new expectations, it is imperative that we appreciate the world around us is changing rapidly, throwing open great challenges and innumerable opportunities. Driven by the growing trend of globalization, the revolutionary developments in Information Technology and the emergence of E-Business, we are witnessing phenomenal changes in the world of Forensic Accounting and Forensic Auditing. In the emerging scenario, Forensic Accounting and Forensic Auditing Professionals will be operating in a totally new Forensic Science landscape of atoms and electrons.
Recent corporate accounting scandals and the resultant outcry for transparency and honesty in reporting have given rise to two disparate yet logical outcomes. First, Forensic Accounting and /Forensic Auditing skills have become crucial in untangling the complicated accounting maneuvers that have obfuscated financial statements. Second, public demand for change and subsequent regulatory action has transformed corporate governance. Increasingly, company officers and directors are under ethical and legal scrutiny. Both trends have the common goal of responsibly addressing investors’ concerns about the financial reporting system. The failure of the corporate communication structure has made the financial community realize that there is a great need for skilled professionals that can identify, expose, and prevent weaknesses in three key areas: poor corporate governance, flawed internal controls, and fraudulent financial statements. Forensic Accounting/Forensic Auditing skills are becoming increasingly relied upon within a corporate reporting system that emphasizes its accountability and responsibility to stakeholders.
Widely publicized financial scandals have fueled the demand for Forensic Accounting and Forensic Auditing services. Attorneys hire Forensic Accountants/Forensic Auditors (FAs) for a variety of matters including suspected fraud, matrimonial investigations and shareholder disputes. In our experience, the earlier a Forensic Accountant/Forensic Auditor (FA) is brought in, the better the odds faced in most litigation. Litigated forensic cases are detail and document dense. Invariably, the interpretation of complex accounting issues comes into play. Good Forensic Accountants/Forensic Auditors (FAs) can determine the cost-effectiveness of even litigating the case in the first place. Forensic Accountants/Forensic Auditors (FAs) should be given authority to investigate every aspect of the case so that the correct conclusions can be drawn. Effective forensic accounting investigation is to know what documents to ask for and what they are likely to reveal. Moreover, Forensic Accountants/Forensic Auditors (FAs) can detach themselves from the details to help the attorney on overall strategy or to assess opponent vulnerabilities. More important than bringing in a Forensic Accountant/Forensic Auditor (FA)early is engaging a Forensic Accountant/Forensic Auditor (FA) with the right credentials, experience and resources to bear.
The Institute of Forensic Accountants of Pakistan (IFAP) offers the Forensic Accountant/Forensic auditor (FA) Program to meet challenges faced by Forensic Accountants/Forensic Auditors (FAs). The Forensic Accountant/Forensic Auditor (FA) Program is based on contemporary theory and practice and provides a strong conceptual foundation to those aspiring for top positions and career opportunities in Forensic Accounting and Forensic Auditing Profession. We, at IFAP, endeavor to impart knowledge and skills in equal measure to our students. However, the pursuit of the Forensic Accountant/Forensic Auditor (FA) Program demands intellectual maturity, strength of purpose and willingness to work hard. For those endowed with inquisitive minds and driven by professional aspirations, this program will be a voyage of discovery.
We invite all those who share our vision, mission, goals and purposes to join hands in our efforts to build a new cadre of Forensic Accounting and Forensic Auditing Professionals who will accelerate the growth in the digital era of E-Business. Come, let us build a prosperous new world together. We are committed to serve and welcome people to join our esteemed Institute to acquire professional qualification in Forensic Accounting and Forensic Auditing. May your generation transform the world?
Barrister Sohail Nawaz President, IFAP