Contemporary businesses and companies are constantly facing challenges to keep its finances safe and prevent fraud. Development of forensic services is a key to prevent such unauthorised and unethical activities.
Taking a concrete step in this direction, ICAI launched its third Forensic (Data Analytics) Lab on 15th January 2018 at Kanpur. The lab has been jointly set up by the Institute of Chartered Accountants of India (ICAI) and Central India Regional Council (CIRC). The lab will produce experts to conduct forensic accounting to check financial bungling and frauds by companies and financial institutions.
Two ICAI Forensic labs in Hyderabad and Noida are already functional. There is already a huge demand of forensic account experts in banks, export firms, corporate sector, insurance and other companies dealing in financial business.
Setting of these forensic labs will surely open up avenues for aspiring CA professionals in field of Forensic Accounting.