Certified Stock Market Forensic Accountant

What is the Stock Market?

The stock market refers to a place where activities such as buying, selling, and issuance of shares of publicly-held companies take place. It provides a platform for companies to raise capital and for investors to buy ownership in these companies. Stock Trading is typically done through stock exchanges, which are regulated entities where stocks are listed and traded.

What are stock Market Frauds?

Stock market fraud refers to deceptive practices in the stock market that are intended to manipulate stock prices or deceive investors for financial gain. This type of fraud can take many forms and can involve individuals, companies, or even entire markets. Read More about the stock market frauds.

Certified Stock Market Forensic Accountant

Certified Stock Market Forensic Accountant (CSMFA) is the specialization of Forensic Accounting certifications developed by Riskpro. Globally there are very few stock market courses that focus on stock market fraud. The nature and types of securities frauds are completely different and the scope of frauds ranges from insider trading to complicated trade matching schemes.

The financial statement is the base of any investment. Whether retail or institutional - investors look at the balance sheets and profit and loss accounts. There is big money involved in the stock markets. Manipulating the financial statement helps the companies to beat analyst expectations. This results in an artificial upward movement in share prices. Hence, the identification of financial statement fraud is a crucial aspect of stock markets.

Additionally, the Certified Stock Market Forensic Accountant is an arbitrator, investor, broker, trader, regulator or merchant banker, or any investment professional or Information Technology consultant who has undergone training to become an expert in the stock market fraud domain.

This certification is neither a Famous Frauds Project, nor is it about investment fraud examples. The course curriculum also includes forensic auditing related to the financial and capital market sector, litigation support, and investigative accounting.

Moreover, this certification program is one of the foremost certifications focusing on the capital market fraud domain.

Overview of the Certification Program

Certified Forensic Accounting Professional is a designation designed and marketed by Indiaforensic in association with Riskpro Learning.
Stock Market Fraud is the third specialization under the Certified Forensic Accounting Professional course after the Information Technology and Insurance specialization. This is a useful certification for professionals looking to understand the gamut of stock market fraud in the financial sector. Stock market fraud classification covers the frauds in the primary markets ex: Prospectus frauds, IPO frauds, and secondary market frauds like Dabba Trading and synchronized trading. It elaborates on the stock market's illegal practices.

Typically, the Certified Stock Market Forensic Accountant is an arbitrator, investor, broker, trader, regulator, merchant banker, investment professional, or Information Technology consultant who has undergone training to become an expert in the stock market frauds domain, forensic auditing related to a financial and capital market sector, litigation support and investigative accounting.

Stock Frauds what went wrong?

In India, the Harshad Mehta scam, and Ketan Parekh fraud are the biggest scams that shook Indian stock markets. In early 2020, the Securities Exchange Board of India announced that it would refer all the cases related to forensic investigations to stock exchanges in addition to its forensic accounting teams. This development has opened the door of opportunities for forensic auditors to conduct investigations into the books of accounts of listed companies. On-going stock market illegal practices widen the scope of Certified Stock Market Forensic Accountants' services.
This program is created keeping in mind the ever-changing nature of the frauds in Indian stock markets over the last few decades. With the advent of technology, the nature of fraud in the stock markets is changing. When investors earn a good amount of profits in the stock markets they are tempted to diversify and start hunting for other investment options. Ponzi schemes, Mis-selling of investment products, and Pump and Dump schemes are investment fraud examples.

As the trades have become digital the nature of fraud in Indian stock markets has changed dramatically. Communication has become simple and the spreading of news or rumors and manipulating sentiments is becoming a common phenomenon.

Additionally, corporate failures teach us that most stock market frauds start with financial statement manipulations, hence this is one of the integral aspects of the curriculum.

CSMFA Syllabus

This type of certification is designed for professionals working in financial services, compliance, risk management, and auditing roles. Financial Statement fraud is the focus area of this course. This course is in the recorded video format and is divided into five sub-topics. Additionally, this course offers discussions around the J-score. It also discusses techniques for manipulating revenues.

Moreover, the syllabus on Stock Market Forensic include

1. Classification of Stock market frauds
2. Global case studies on stock market frauds in addition to domestic
3. Insider trading and laws
4. IPO Scams
5. Grey Market Deals
6. Frauds by the promoters
7. Financial Statement Frauds in India

Scalping, parking, or churning techniques are also inherent aspects of the course. This material also discusses the Mauritius treaty and its impact on the stock markets and has covered the basics of laundering in stock markets. There are multiple techniques used in the Stock Market Money Laundering.

CSMFA Mode of Delivery

This certification is offered in the Video Learning Mode. The course is based on the Stock Market Fraud reference book available on Amazon and Flipkart. This book provides different investment frauds examples.

The distance learning course for stock market fraud certification offers a flexible and convenient way for students to learn and prepare for the certification exam. Upon registration, students get access to a variety of resources, including video lectures, study materials, books, and preparation courses.

The video lectures provide in-depth explanations of key concepts, fraud detection techniques, and case studies illustrating real-world examples of stock market fraud. These videos help to enhance understanding and retention of the course material.

The study materials and books cover a wide range of topics related to stock market fraud, including regulatory requirements, investigative methods, and best practices for fraud prevention. These resources are essential for students to build a solid foundation of knowledge and skills needed to combat fraud in the stock market.

Additionally, the preparation course helps students review and reinforce their understanding of the course material. It includes practice questions, quizzes, and exams to assess their knowledge and readiness for the certification exam.

Fees for the Stock Market Course

The fee for this course is Rs. 22000, which covers the cost of the syllabus, certification, book shipping, and examination. However, there are occasions when these fees are reduced through discount coupons. These coupons are available in various promotional offers, referral programs, or special events organized by Indiaforensic.

The discount coupons can offer significant savings on the course fee, making it more affordable for students. These coupons help the students to get the course after applying for discounts. It's important to note that the availability and terms of these coupons may vary, so it's advisable to check the Indiaforensic website regularly.

Additionally, you can also download the Application form for the Certified Stock Market Forensic Accountant (CSMFA). After making the payment online, kindly send the completed application form to the office of Riskpro Learning.

For more information on this certification program

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Email us at contactus@riskprolearning.com