Country’s third forensic accounts lab to come up in Kanpur
Country’s third forensic accounts lab is set to become functional in Kanpur from January 15.lucknow Updated: Jan 10, 2018 16:43 IST
Country’s third forensic accounts lab is set to become functional in Kanpur from January 15.
The lab will produce experts to conduct forensic accounting to check financial bungling and frauds by companies and financial institutions.
The other two labs are in Hyderabad and Noida
The lab has been jointly set up by the Institute of Chartered Accountants of India (ICAI) and Central India Regional Council (CIRC).
Senior advisor to ICAI Dharmendra Srivastava said the lab would introduce courses which would help contain hi-tech financial frauds. “The courses will be at par with global forensic accountancy norms and will open new horizons for the employment in and outside the country,” he said.
Srivastava said with increase in digital transactions, cyber frauds had also gone up. “About eight billion online transactions were recorded in 2014 but the number went up to 18 billion in 2017. With this, cyber crime has also increased threefold in the last one year. However, the exact number of cyber frauds is not available,” he said.
“Forensic accounting is one of the branches of accounting. The students are taught the art of fraud detection in financial matters and special system of investigating accounts-related documents. Forensic accounts experts help the court by providing accurate analysis and examination of financial documents,” Srivastava said.
“There is a huge demand of forensic account experts in banks, export firms, corporate sector, insurance and other companies dealing in financial business,” he added.