Syllabus for CFAP [Insurance]

Certification in Forensic Accounting for Insurance industry emphasize a forensic rather than a control-based or risk management approach to the analysis of governance and the possibility of fraud.

According to the estimates, India lose more than Rs. 30000 crores to the Insurance frauds. This research highlighted the need of education for the Insurance sector employees. Under this certification program the participants are 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.

Whole syllabus of Certification program is divided in ten topics. This is one of the the first certifications in the Insurance sector frauds in India and covers following chapters:

• Background of the Frauds in Insurance sector

• Classification of the Life Insurance frauds

• Money Laundering in Insurance sector companies

• Frauds in General Insurance companies

• Early warning signals of Insurance sector frauds

• Setting up the Special Investigation Unit

• Fraud Risk Management in Insurance companies in India

• Research on the Insurance frauds

• Investigation techniques

• Prevention techniques

The above syllabus is updated frequently based on the new trends and developments in Insurance industry and the technology related frauds. The specially designed 100 + pages Insurace frauds manual is provided to the participants who register for the Certification in the forensic accounting along with the forensic accounting manual.