DIFA, Diploma of Investigative and Forensic Accounting, is gaining acceptance due to its importance in facing corruptive business practices and financial theft. However, the absence of Forensic Accounting (FA) is still noticed in countries of opaque business practices. Furthermore, accounting only few universities across the world are introducing DIFA, thus a major work has to be done to shed the light on the importance of the diploma in the first place and then offer it as an official diploma with courses relating to FA whether in universities or financial institutions.
The major concern lies in the fact that Forensic Accounting is neither provided in universities as a diploma, nor at financial institutions to detect fraud and make legal court reports. In many universities of Canada and the United States, the DIFA, is being included in the curriculum in order to recruit new students and provide skills set for career advancement through development of a specialized niche. One of the objectives of the Alliance for Excellence in Investigative and Forensic Accounting (Alliance), vpxco established by the Canadian Institute of Chartered Accountants (CICA), is to develop and manage a specialist certification program. This diploma is designed as a comprehensive program for someone who wishes to practice in this area. CPA, CFA, CIA are examples of certificates granted in Lebanon, however, no diploma is available related to Forensic Accounting. Therefore, it could be a diploma given in educational institutions that grant CPA or any other certification related to auditing or accounting.
Furthermore, buypsychedelicaustralia the importance of adopting FA in the universities’ accounting curriculum is highlighted especially that its demand for it is increasing gradually. Such adoption has a huge potential to enhance students’ skills and competencies and could be used as a veritable resource from which fraud could be mitigated. Fresh graduates can as well attain the DIFA program that provides a broad range of knowledge and skills to carry out financial investigations. This range includes accounting, audit, income tax knowledge, fraud knowledge, knowledge of law and rules of evidence, an investigative mentality and critical skepticism, understanding of psychology and motivation, and strong communication skills (Stott, 2005).
The program focuses on knowledge and skills that can be best taught and examined in person: such as handling a face-to-face meeting with a client, interviewing skills, Deli Larchmont NY and testifying in court as an expert witness. DIFA supports accountants with the knowledge and skills needed to bridge the gap between existing quantification models and principles and different litigation contexts (Stott, 2005).
Based on descriptive statistics of survey results conducted in Lebanon, being a country of opaque business practices, to identify the certificates that a forensic accountant must possess showed that:
- 59.09% of the respondents thought that a forensic accountant should have a DIFA;
- 31.82% proposed that CPA is the needed certificate (Certified Public Accountant);
- 20.91% thought that CFA is the appropriate one (Chartered Financial Analyst);
- 10.00% mentioned other types of certification.
- 2.12% of the respondents didn’t find it necessary to have any certification to become a forensic accountant.
Furthermore, freepornoavis the relation between occupation and the respondents’ opinion about the types of certifications that a forensic accountant must possess was also studied. The following breakdown shows the percentages of respondents who proposed that DIFA is the important certification based on job occupation.
- 69.10% of the respondents working in banking or insurance
- 51.60% of the respondents working in finance
- 72.70% of the respondents working in education
- 80% of the respondents working in management
However, most of the respondents in the accounting field thought that CPA is the type of certification that should be possessed by the forensic accountant with a 77.10%. People working in accounting usually tend to pursue a CPA degree for the help it provides in this domain. foutatunisia
In addition to the above, the relation between experience and the respondents’ opinion about the types of certification that a forensic accountant must possess was also studied. The results, based on those who choose DIFA as the needed certificate, streetwear were as follows:
- most respondents with more than two years’ experience thought that DIFA is the needed certification to practice FA
- 51.90% of respondents with 2 years’ experience and less thought that DIFA is the needed certification to practice FA;
- 68.80% between 2 and 6 years of experience thought that DIFA is the needed certification to practice FA;
- 55.40% of those with less than 2 years or no experience at all thought that CPA is the type of certification that should be possessed by the forensic accountant.