DIFA, Diploma of Investigative and Forensic Accounting, is getting acceptance due to their importance in facing corruptive business practices and financial theft. Yet , the shortage of Forensic Accounting (FA) is still noticed in countries of opaque business practices. Furthermore, only few universities across the world are introducing DIFA, thus a major work should be done to shed the light on the value of the diploma in the first place and then offer it as an official diploma with training relating to FA whether in universities or financial institutions. Strathfield
The major concern is based on the fact that Forensic Accounting is neither provided in universities as a diploma or degree, nor at financial corporations to find fraud and make legal court information. In many universities of Canada and the usa, the DIFA, is being within the curriculum in order to recruit new students and provide skills set for career advancement through development of a specialized specialized niche. One of many objectives of the Alliance for Excellence in Investigative and Forensic Accounting (Alliance), established by the Canadian Institute of Chartered Accountants (CICA), is to develop and manage a specialist recognition program. This kind of diploma is designed as a thorough program for someone who wishes to practice in this area. CERTIFIED PUBLIC ACCOUNTANT (CPA), CFA, CIA are good examples of certificates granted in Lebanon, yet , no degree is available related to Forensic Accounting. Consequently, it could be a diploma or degree given in language school districts that grant CPA or any type of other documentation related to auditing or accounting.
Furthermore, the value of adopting FA in the universities’ accounting subjects is highlighted especially that its demand for it is increasing gradually. This kind of adoption has a huge probability of enhance students’ skills and competencies and could be used as a veritable resource from where fraud could be mitigated. Fresh graduates can as well attain the DIFA program that provides a broad array of knowledge and skills to handle financial inspections. This range includes accounting, audit, tax knowledge, scam knowledge, understanding of law and rules of evidence, an investigative mentality and critical skepticism, comprehension of psychology and motivation, and strong communication skills (Stott, 2005).
The program focuses on knowledge and skills that can be best taught and examined face-to-face: such as handling a face-to-face conference with a client, meeting with skills, and testifying in court as an expert witness. DIFA supports accountancy firm with the information and skills needed to bridge the gap between existing quantification models and principles and different litigation contexts (Stott, 2005).
Based on detailed statistics of survey results conducted in Lebanon, being a country of maussade business practices, to identify the certificates which a forensic accountant must own demonstrated that:
59. 09% of the respondents thought that all a forensic scrivener must have a DIFA;
31st. 82% proposed that CERTIFIED PUBLIC ACCOUNTANT is the needed qualification (Certified Public Accountant);
20. 91% thought that CFA is the correct one (Chartered Financial Analyst);
10. 00% mentioned other sorts of certification.
2. 12% of the participants didn’t find it necessary to have any documentation to become a forensic accountant.
Furthermore, the relationship between occupation and the respondents’ judgment about the types of certifications a forensic accountant must have got was also studied. The pursuing breakdown shows the proportions of respondents who offered that DIFA is the important recognition depending on job occupation.
69. 10% of the respondents employed in bank or insurance
51. 60 per cent of the respondents working in finance
72. 70 percent of the respondents employed in education
80% of the respondents working in management