The Diploma in Forensic Accounting contains two units:
Unit 1: An Introduction to Forensic Accounting
This unit introduces candidates to accounting as well as fraud and embezzlement and describes the various financial crimes. It also explains the differentiation between forensic accounting and general accounting and lists the roles and importance of a forensic accountant within businesses.
Unit 2: Common Personality Traits of Fraudsters
Early fraud detection is one of the most important skills that a forensic accountant must acquire. This unit informs candidates on the behavioral traits and features to look out for in a potential suspect. It helps them in understanding and identifying a fraudster.
Unit 3: Fraud Detection Methods
In this unit, we will discuss the most effective ways that fraud can be detected. Early detection can significantly lessen fraud losses. Candidates will gain a deep understanding of the result of fraud loss and will be rigorously trained in the application of effective fraud detection techniques.
Unit 4: General Investigative Procedures
In recent times, forensic accountants have become very valuable to organizations everywhere in the world. This unit help candidates in understanding their roles in an organization and most importantly, in an investigation. It gives a basic understanding of the investigation process and helps to improve their investigative skills.
Unit 5: Evaluation and Assessment: Gather Evidence
This unit briefly discusses the basic principles of gathering evidence with which forensic accountants should be familiar. It enumerates the different types of evidence and the importance of evidence in a criminal investigation.
Unit 6: Collecting Non-Financial Evidence
Fraud investigators and forensic accountants - after gathering financial evidence - usually consider the possibility of valuable non-financial evidence. In this unit, the techniques, and tools to discover non-financial evidence are discussed extensively.
Unit 7: Investigating Monetarily Sophisticated Witnesses
An investigation is not complete without interviewing and investigating witnesses. Unit 7 discusses the basic requirements for a person to qualify as a witness, the different witness types, witness credibility and the process of conducting a witness interview.
Unit 8: Conducting Fraud Risk Assessment
A fraud risk assessment should be executed incessantly to discern potential schemes and events that need to be lessened. This unit guides the candidate in conducting a fraud risk assessment; it points out the steps taken to identify and protect an organization from fraud.
Unit 9: Fraud Prevention Techniques
Fighting fraudsters is not an easy task, staying ahead of them is even harder. Nowadays, cyber-criminals have devised new ways to work without being detected. With this unit, candidates will be updated on the most recent and more effective fraud prevention methods.