Being a Certified Forensic Auditor (Cr.FrA)

Forensic Auditor CrFA

Forensic Audit combine their accounting knowledge with investigative skills, using this unique combination in litigation support and investigative accounting settings. Forensic Audit may be employed by public accounting firms forensic accounting divisions, by firms specializing in risk consulting and forensic accounting services, or by lawyers, law enforcement agencies, insurance companies, government organizations, or financial institutions. Due to society’s heightened awareness and growing intolerance of fraudulent activity, demand for forensic accountants is rapidly increasing.

 

Forensic accountants may be involved in both litigation support (providing assistance on a given case, primarily related to the calculation or estimation of economic damages and related issues) and investigative accounting (looking into illegal activities).

 

 

Benefits of becoming a Certified Forensic Audit – CFrA

  • Grants recognition of knowledge and skills by a third party
  • Grants recognition of knowledge and skills by a third party
  • Enhances professional reputation and provides personal accomplishment
  • Supports continued professional development
  • Demonstrates a high level of commitment to the field

CFrA Application Fee:

The CFrA exam fee is $1250.

Forensic Audit Programme

Forensic Audit

Common Body of Knowledge & Skill:

The credential goes beyond the traditional training a CPA or Chartered Accountants receives. The materials include:

 

PART 1: FORENSIC AUDIT

  • History of forensic accounting
  • Fraud auditing
  • Asset misappropriation scams
  • Alternate dispute resolution
  • Preparation and Courtroom tips
  • Document retrieval and analysis
  • Rules of evidence
  • Government auditing techniques
  • Reporting Standards
  • Document retrieval and analysis
  • Cyber Forensics
  • Computer & technology based Crimes

 

PART 2: INTERNAL AUDITING

  • Foundation of Internal Auditing
  • Importance of Internal Controls
  • Internal Audit & Corporate Governance
  • Administering Internal¬† Auditing Activities
  • Impact of Information Systems on Internal Audit
  • Internal Auditor Tools & Trends

 

PART 3: INTERNAL CONTROL STRATEGIES

  • Understand the SEC’s Guidance for management
  • The PCAOB’s Auditing Standard No 5
  • SEC’s Guidance on a Risk Based Approach
  • Starting at the Top: Entity Level Controls
  • Streamlining Documentation
  • Economical Testing Technique

 

PART 4: INFORMATION SECURITY

  • System & Network Security
  • Managing Information Security
  • Encryption Technology
  • Privacy & Access Management
  • Storage Security
  • Physical Security
  • Advance Security

 

Consulting Expert vs. Testifying Expert

The focus of this module will address the main differences between consulting experts and testifying experts. Often times in complex litigation both consulting and testifying experts are used; however, in many instances a consulting expert ultimately becomes a testifying expert. In this module , the duties of each expert will be addressed along with the relationship between the two engagements.

 

Learning Objectives

After completing this webinar, attendees will be able to:

– Differentiate between an engagement as a consulting expert and an engagement as a testifying expert

– Identify the duties of the different engagements

– Explain to a client what their duties will be under each engagement.

 

Types of services performed

  • Financial data analysis
  • Evidence integrity analysis
  • Computer application design
  • Writing reports
  • Compiling information
  • Testifying as an expert witness
  • Eliciting other experts' assistance
  • Maintaining documentation
  • Damage assessment
  • Tracing illicit funds
  • Locating hidden assets
  • Due diligence reviews
  • Forensic intelligence gathering
  • Business valuation
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