In
India Forensic Accounting is still in nascent stage and it becomes very
difficult to find and retain the forensic accounting resources in India.
Bank Forensic Accounting is an endeavor to meet the growing demand of
the forensic accountants in the country. As a first step towards this
initiative Indiaforensic Research Foundation has forayed into Bank
Forensic Accounting. The primary reason for choosing banking sector is
very simple. India have not witnessed much corporate failures which were
observed in USA or Australia in past few years. But in most of the
frauds that India have witnessed banks were the ultimate victims.
For
an unknown reason the banks are hesitant to appoint the external parties
for preventing, detecting and investigating the frauds. They believe
more in their internal audit teams for investigation of the frauds.
Though this may be the subject of criticism we respect the decision of
the bankers and in order to equip the vigilance departments of the
Nationalized and Co-operative banks we have launched this course on Bank
Forensic Accounting which is probably the first of its own kind.
Co-operative
bank failures have led to a growing awareness of the need for accounting
and finance professionals to acquire skills to identify and act upon
indicators of poor corporate governance, mismanagement, fraud and other
unethical behavior.
