Certified Insurance Forensic Accountant
Certified Forensic Accounting Professional is the premier certification in India in the antifraud domain. Certified Forensic Accounting Professional (Insurance) is a person who has successfully completed the examination conducted by Indiaforensic Center of Studies to become an expert in the field of forensic accounting, forensic auditing, litigation support and investigative accounting with the specialisation in the Insurance domain.
Certified Forensic Accounting Professional (Insurance) is a designation awarded by Indiaforensic Center of Studies and moderated by the Forensic Accounting Research Foundation. The Forensic Accounting Research Foundation is a member-based Indian organisation dedicated to providing forensic accounting and forensic auditing education and training with presence in more than 7 countries including Nigeria, Oman, Qatar, UAE, Uganda and others. Certified Forensic Accounting Professional is the program designed to equip the Insurance professionals and the antifraud professionals to effectively fight the Insurance sector frauds. Participants will be given a broad-based introduction to the nature and purpose of forensic accounting. The scope and content of all subjects extend well beyond ‘narrow’ focus of fraud prevention and provide an opportunity to study and acquire skills in investigative techniques and the collection of data as well as the skills necessary to not only identify poor management but also unethical and fraudulent activities.
Manual on Insurance Frauds, which classifies the Insurance sector Frauds in Indian insurance companies is the key learning aspect of this program. In addition the participants also get to learn the Red flags of the various insurance fraud schemes based on the theme that frauds are committed in “Life Insurance” or “Non-life insurance”. This certification covers both these sectors of Insurance. Additionally, the study material designed for the course also discuss the methods for prevention, detection and investigation of the frauds in the Indian insurance sector
Certified Forensic Accounting Professional degree is a certification offered by Indiaforensic Center of Studies to those professionals who have scored atleast 75% in the examinations conducted by Indiaforensic Center of Studies. All the professionals completing the examination after 31.12.2012 are governed by the CPE norms. Every CFAP Insurance needs to undergo the training of 20 hours to maintain the professional certification.
To Summarise, professional can be termed as Certified Forensic Accounting Professional:
- When he successfully completes the examination
- Abides by the by-laws and code of conduct of Indiaforensic Center of Studies
- Completes 20 CPE hours every year
- Be of a high moral character