It is by sheer good fortune that the author has come to be associated with a group of Chartered Accountants who have joined hands together to form a more cohesive and action oriented group who so far (as on date of writing this post, i.e. 18th April, 2015) was just represented by a Facebook group of the same name, i.e. Forensic Accountancy and Fraud Detection.
Before I proceed with my article, I wish to share an infographic (reproduced with the due linkages to the original post [URL] below) about the ICAI’s published facts about the Statistics of ICAI Members as on 2014, below:
The reason the author is re-duplicating the above is because it is a startling statistic that while a majority of the Fellow Chartered Accountants (61105/76247=80.14%) are in full time practise, very few of the Associate Chartered Accountants (41335/152899=27.03%) are in a similar occupation. This surely implies that for the newly qualified chartered accountant, there must be fewer avenues to go into full-time practise. This is where the newer areas of practise (like FAFD) gain importance.
The author wishes to reiterate that the slightly high fees charged by the ICAI for the FAFD Certification should normally not deter the younger members of our fraternity from full-time practise. My gut feeling says that Forensic Accounting is going to be, over the coming years, an area that will have far-reaching consequences and implications. Forensic Accounting and it’s recognition in Indian law is another wonderful article written by the same author, whose name appears at the heading of both the above-referenced articles.
In the end, all I can say is that even I am extremely desirous of taking the FAFD Certification course for which an online application can be made from the same link provided above. There are a number of other articles at the ICAI’s website, which deal with general information about the Forensic Accounting area.
CA Vikram S. Mathur