The CFAP designation is a globally recognized certification for forensic accounting, auditing and investigation professionals. Being CFAP-certified showcases your investigation related experience, skills and knowledge, and demonstrates that you are capable of conducting accounting investigations, report on compliance and recommend controls to control the damages related to frauds.
Since 2006, the CFAP certification has been a Gold standard certification among Accounting, auditing, investigation and security professionals. More than 6,000 professionals have earned the CFAP designation since inception. CFAP retention each year consistently remains more than 70 percent.
The CFAP certification is sought by those who audit, examine and investigate the fraudulent activities in the books of accounts of an enterprise’s business systems.
Certified Forensic Accounting Professional is a Gold standard certification in the forensic accounting domain. It is considered as benchmark for the commerce students in India. It is one of the toughest courses in the forensic accounting domain globally.
CFAP Certification Requirements
To earn the CFAP certification, candidates are required to:
- Pass the CFAP examination
- Submit evidence of a minimum of five years of professional auditing, control or security work experience
- Adhere to ACFAP’s Code of Professional Ethics
- Agree to comply with the ACFAP’s Continuing Education Policy
Generally, applicants for certification have a minimum of a bachelor’s degree. Aspirants should possess at least three years of professional experience. The graduates not having five years of experience can apply for the membership only after they complete five years of experience in the forensic accounting domain. Aspirants having less than five years of experience can however demonstrate their capabilities by writing to the board of ACFAP on firstname.lastname@example.org
There are totally 20 chapters which deals in various elements of the forensic accounting in India. This is just the outline of the course syllabus
- Classification of the Corporate fraud schemes based on the Indian schemes of fraud – Here the fraud schemes are classified on the basis of items in the financial statements.
- Understanding the red flags of the corporate fraud schemes – Early warning signals in the corporate sector helps to detect the frauds timely.
- What one should do to prevent the corporate frauds – There are certain ways to prevent the frauds happening in the organisation.
- How these frauds can be investigated – Number of Investigation techniques are discussed here
- Which are the tools used in investigating the frauds – The data analysis and data recovery tools used in any forensic investigation.