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Training in Investigative and Forensic Accounting (CIFA) UAE - Chapter Anti Money Laundering (AML Certificate)

Training in Investigative & Forensic Accounting (CIFA) By Svarna Training Institute Categories: in-person, online Last Update 17 July 2022

About AML Certificate

To evaluate financial documents, forensic accounting combines auditing, accounting, and investigative skills. Accounting systems and procedures related to criminal and legal investigations are frequently reviewed by forensic accountants all cover in AML Certificate.

The discipline is a subset of general accounting. It examines financial accounts holistically and follows the flow of money to better comprehend a specific circumstance.

Forensic accounting entails precise record-keeping and, in some cases, court testimony. Forensic accountants tailor their procedures and objectives to each case. They may employ both paper-based and computer-based research methods.

Forensic accountants are rarely in the news, but the cases they work on are. This intriguing work necessitates a level of concentration that few individuals can achieve. This guide delves into the functions and responsibilities of this post. It also describes the numerous positions held by people working in the field of forensic accounting.

AML Certificate

Forensic accountant duties

Forensic accountants perform a variety of tasks during their investigations. They collect data as they research funds, assets, and similar financial information. Forensic accountants also have knowledge of accounting practices and may offer testimony in court. Responsibilities include:

What will I learn in Anti Money Laundering Course Certificate?

Fraudulent Bookkeeping Investigation:   Forensic accountants collect accounting records and assess transactions to find misreported and unethical actions. Forensic accountants review corporate, retail, and personal finances. They trace infractions such as kickbacks, misappropriation, and embezzlement.

Anti-Fraud Risk Assessment: Financial accountants look at financial documents and practices to locate areas at risk for fraud. They consider ethics and regulations, and they advise on internal financial controls, response plans, and fraud prevention techniques.

Due Diligence Contracts:  Forensic accountants assess contracts and royalty agreements to identify fraud and abuse. They use background checks to conduct financial investigations into all parties involved. These professionals also perform due diligence responsibilities by taking ethical, legal, and regulatory factors into consideration.

Litigation Discovery: Forensic accountants collect financial information related to civil and criminal disputes. They gather electronic data, paper documents, and all relevant statements. They also provide legal professionals and authorities with materials at hearings, trials, and arbitrations. Litigation discovery may involve a comprehensive report prepared by a forensic accountant.

Trial Testimony: Forensic accountants appear in court to testify in civil and criminal matters. Forensic accountants tasked with finding evidence of fraud, embezzlement, and tax evasion may provide verbal confirmation of their findings. Forensic accountants may also offer testimony for plaintiffs or defendants.

Insurance Claim Investigation: Forensic accountants obtain financial records related to insurance claims. They use these records to determine whether payments made by insurance companies meet policy conditions. Insurance claim fraud detection involves the use of computer software, legal documents, and financial statements to assess false data and misuse of funds.

What are the 3 LOD in Anti Money Laundering (AML)

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