INTERNATIONAL ASSOCIATES

The Chartered Institute of Cost and Management Accountants (CICMA), Nigeria has Reciprocal Relationship with the under listed Institutions:

THE INSTITUTE OF CERTIFIED FORENSIC ACCOUNTANTS, USA
www.forensicglobal.org
The Institute of Certified Forensic Accountants is a professional body for those committed to the development of the multidisciplinary profession of forensic accounting. Its mission is to develop and promote the profession of forensic accountancy to the public and to those people involved in providing forensic advice and guidance to their clients.

The Institute of Certified Forensic Accountants is a not-for-profit professional body chartered under Letters of Patent granted by the Federal Government of Canada .The Institute is also registered under the Laws of the State of Delaware,USA.

The mission of The Institute of Certified Forensic Accountants is to provide education and certification for forensic accountants so that members qualified to use the designation Certified Professional Forensic Accountant (CPFA) are recognized internationally as trusted, professional forensic advisors.

ABOUT FORENSIC ACCOUNTING
Contrary to popular belief, 'forensic' has nothing to do with death. 'Forensic' means being able to meet the exacting standards of a court of law (thus forensic science, forensic psychiatry, forensic climatology etc.). Some forensic accountants' primary skills include an understanding of the legal process; how to conduct investigations; conducting financial analyses and other accounting procedures at a level acceptable to the legal system.
Until recently, detecting fraud or white collar crime was thought to be part of the accounting function. Fraud was something the internal or external auditors were supposed to guard against by their periodic audits. However we now know the auditors can only check for the compliance of a company's books to generally accepted accounting principles and company policy. Thus a new category of accounting was needed to substantiate the fraud for companies who identified fraudulent transactions. This area of accounting is known as forensic accounting

Forensic accountants utilizes accounting, auditing and investigative skills when conducting an investigation. Equally critical is their ability to respond immediately and to communicate financial information clearly and concisely in a courtroom setting. Forensic accountants are trained to look beyond the numbers and deal with the business reality of the situation.

Forensic accountants are multi-disciplinary and have a wide range of experience in the forensic and investigative field. They are frequently called upon to serve as expert witnesses and litigation consultants.

As forensic accountants you may be working in areas such as:
o investigations, both criminal and civil;
o preparation and review of evidence;
o preparation of expert reports;
o affidavits and proof of evidence;
o giving oral evidence in court;
o expert determination, arbitration, mediation or alternative;
o dispute resolution;
o insolvency support investigation; and fraud prevention and awareness strategies.

Qualified forensic accountants are able to provide attorneys with a variety of approaches to successfully resolve claims and disputes. From early stage advisor to expert witness, forensic accountants give knowledgeable advice throughout the commercial or regulatory litigation process in an effort to ascertain and develop key financial data.

They can provide expert witness testimony supported by effective analysis, trial support by analysing materials and developing approaches to support the direct and/or cross examination process and comprehensive support for settlement scenarios.

So what does it take to become a forensic accountant? Apart from a need for the same basic accounting skills that it takes to become a good auditor, to be a forensic accountant you need to have the ability to:
o pay attention to the smallest detail;
o analyse data thoroughly;
o think creatively;
o possess common business sense;
o be proficient with a computer and; have excellent communication skills;
o A "sixth sense" that can be used to reconstruct details of past accounting transactions is also beneficial;
o A photographic memory helps when trying to visualise and reconstruct these past events.

A forensic accountant also needs the ability to maintain his composure when detailing these events on the witness stand and should be insensitive to personal attacks on his professional credibility.

One thing forensic accountants learn when conducting fraud investigations is that you can never assume, what appears to be one thing on the first glance often turns out to be quitedifferent when examined closely.
An increasingly complex business environment and the growing tendency for people to take legal action has led to the demand for accountants who understand the legal process, and who can conduct investigations, financial analysis and other accounting or audit procedures at a level acceptable to the courts.

Forensic accountants gather information to form an opinion, which is generally expressed in a report or given as expert evidence in court. Due to the diversity of commercial matters which are brought before the courts, a Forensic Accountant's work is often far more challenging and interesting than the traditional compliance or statutory reporting work undertaken by many accountants in professional practice.

The key areas of work for Forensic Accountants are:
Quantification of Damages and Loss of Profits - assessing the effect on profitability, cashflow, income or value, that a party claims to have incurred, or may incur, as a result of either a breach in a contract, personal injury, product liability, breaches of the Trade Practices Act or Fair Trading, etc.
The Forensic Accountant may also need to consider the impact of other circumstances on the claimed loss, and the degree to which the loss was mitigated or could have been mitigated in order to determine the actual loss incurred.

Valuations - determining the value of shares, businesses, partnerships, intangibles, etc in dispute, lost or destroyed. The Forensic Accountant must review information as both a financial analyst and as an investigating accountant, making appropriate adjustments, where necessary, and applying a generally accepted, or arguable, methodology to determine the value.

Professional Negligence - reviewing transactions and the actions, or inaction, of various professionals to determine whether the parties were negligent and, if so, to what extent.

When a review involves an accounting professional, a keen knowledge of the applicable accounting standards and the prevailing law is required. Therefore, the Forensic Accountant must have the ability to identify the impact and timing of changes in law and procedures.

Fraud - investigating frauds, and establishing procedures to prevent or detect fraud.
Forensic Accountants are frequently called upon to investigate frauds, identify the appropriate documentary evidence, quantify the loss and to assist in the prosecution of those involved.

Family Law Matters - assessing the existence, value and ownership of the financial resources available to parties in matrimonial dispute. This type of work requires excellent communication skills when dealing with related party small family businesses where the personal emotions of the parties involved as frequently the financial information being considered frequently contains a mixture of business and personal transactions with tax driven results.

Forensic Accountants need to have an interest in and the aptitude to develop accounting, auditing, financial and investigative skills to recognise, document and analyse informationfrequently from hostile or opposing parties-that is required to form and support an opinion.

The Forensic Accountant must have the confidence and ability to respond immediately to questions raised in court. Further, and potentially even more important than knowing the answers, the Forensic Accountant must be able to communicate often extremely technical and complex financial information in a manner that will understood by the court.

INSTITUTE OF PROFESSIONAL FINANCIAL MANAGERS, U.K
www.ipfm.org
The Institute of Professional Financial Managers (IPFM) was established in 1992 to provide a body for professional financial managers. The IPFM set out to fill the niche market between the accountancy and treasury management professions.

There has been a steady growth in the membership with several hundred new applications each year in the early years but now running into thousands. The total number of members registered is over 10,000. We now have members from over 40 countries.

There has also been a steady demand from members to be representatives in their own countries. We have over 20 such representations around the world.

We have established links with reciprocal bodies in Australia, Belgium, Canada, India, Nigeria, South Africa and UK. These work based on the other body accepting our members as their members on payment of the appropriate fee. In most instances, there is no need for our members to complete application forms other than the one on joining the IPFM.

The IPFM provides educational services to Cameroun, Gambia, Kenya, Swaziland, Yemen and Zimbabwe. These usually take the form of our approving the educational structures of local bodies and issuing certificates and diplomas.

Membership ranges from the Technician level through to the Doctoral Fellow level. Membership of the Institute will confer the following benefits:
• Use of the letters TIPFM, AIPFM, FIPFM or DFPFM (formerly DIPFM)
• Receipt of a free 16-page IPFM Journal three times a year
• Right to attend the annual convocation in London and/or at other centres

CHARTED ASSOCIATION OF BUSINESS ADMINISTRATION, CANADA
www.charteredaba.org
Chartered Association of Business Administrators is a not-for-profit professional body chartered Federally under Letters Patent granted by the Government of Canada. Chartered Association of Business Administrators® is also a registered mark with the US Government Patent and Trade Mark office.
The Association is of the opinion that the success of the new economy requires much more than simply responding to the market demand. Accelerating change, the information revolution, globalization, intensified competitio, rapid commoditization of services and compressed strategy life cycles have all created a new business environment with unprecedented challenges. Businesses today increasingly require professionals who can integrate knowledge from multiple sources to address strategic business issues and help create new innovation-driven business models.

Chartered Association of Business Administrators
3422 Old Capitol Trail
PMB 469
Wilmington
DE19808
USA
302 425 5528 Telephone:
302 996 5818 FAX:
E-mail: info@charteredaba.org

CHARTERED INSTITUTE OF MANAGEMENT CONSULTANTS, CANADA
www.cimcglobal.org
Chartered Institute of Management Consultants (CIMC) is a not-for-profit professional body chartered federally under Letters Patent granted by the Government of Canada. CIMC is also chartered under the Laws of the State of Delaware, USA. CIMC is also registered with the National Certification Commission, USA.

The Institute is of the opinion that the success of the New Economy requires much more than simply responding to market demand. Accelerating change, the information revolution, globalization, intensified competition, rapid commercialization of services and compressed strategy life cycles have all created a new business environment with unprecedented challenges. Businesses today increasingly require professionals who can integrate knowledge from multiple sources to address strategic business issues and help create new innovation-driven business models. This innovation imperative presents unique opportunities for high-level professionals who can add new value in a global, knowledge-based economy. With this end in view the Institute has developed :-
Ch.MC (Chartered Management Consultant)®
as a global management credential.

Chartered Management Consultant ® is a registered mark with the US Government Patent and Trade Mark Office.
Chartered Institute of Management Consultants
3422 Old Capitol Trail, PMB 449, Wilmington, DE 19808, USA
Tel : 302-425-5528 Fax : 604-687-1221
Email: info@cimcglobal.org

INSTITUTE OF FINANCIAL CONSULTANTS,CANADA
www.ifconsultants.org
The Institute of Financial Consultants (IFC) is an international professional organization with a worldwide membership. IFC is chartered in Canada and the USA.
Certified Financial Consultant ® mark is registered with US Government Patent & Trade Mark Office, USA, and with the National Certification Commission, USA.
IFC offers an educational program leading to the designation of Certified Financial Consultant ® (CFC) issued to qualified graduates.

The Institute is multidisciplinary, drawing its members from the related but separate fields of accountancy, insurance, law, funds management, tax and pensions. The Institute is forging a "new" profession that adopts the best features from these related professions and encourages the development of members' qualifications as financial consultants on the basis of their current professional qualifications.

Financial consultants provide advice to clients in a wide variety of situations from the financial planner advising individual clients on investments to those working as corporate financial officer, portfolio manager, security analyst and investment banker in organizations as diverse as brokerage firms, mutual funds, banks, trust companies, corporate finance departments, insurance companies and other financial management firms.
IFC aims to ensure its members provide competent, ethical and objective financial advice. This is to the advantage of clients and employers, the profession and individual members of the Institute.

The Administrator
Institute of Financial Consultants
Suite 420-1090 West Pender Street
Vancouver, British Columbia
V6E 2N7, CANADA
FAX: 604-687-1221
E-mail:info@ifconsultants.org

THE INSTITUTE OF CERTIFIED BUSINESS CONSULTANTS, CANADA, USA
www.theicbc.org
The Institute of Certified Business Consultants (the ICBC) is an international professional organization chartered federally under Letters Patent granted by the Government of Canada. The ICBC is also chartered under the Laws of the State of Delaware, USA. The Institute has a world wide membership.
The Institute is of the opinion that the success of the New Economy requires much more than simply responding to market demand. Accelerating change, the information revolution, globalization, intensified competition, rapid commercialization of services and compressed strategy life cycles have all created a new business environment with unprecedented challenges. Businesses today increasingly require professionals who can integrate knowledge from multiple sources to address strategic business issues and help create new innovation-driven business models. This innovation imperative presents unique opportunities for high-level professionals who can add new value in a global, knowledge-based economy. With this end in view the Institute has developed :-

CANADA - International administrative Office
The Institute of Certified Business Consultants
Suite 420-1090 West Pender Street
Vancouver, British Columbia
V6E 2N7, CANADA
Email: info@theicbc.org
Fax: 604 687 1221
USA - Head Office

The Institute of certified Business Consultants
3422 Old Capitol Trail
PMB 1063, Wilmington
DE 19808-6192
USA
Telephone: 302-425-5528

The Institute Of Forensic Accountants of Pakistan (IFAP)
Office#21,1st Floor, Capital shopping center,
G-11 Markaz, Islamabad.
Tel:092 51 4304525, Fax:092 51 2220872
E-mail: ifap.pk@gmail.com Web: www.ifap.org.pk

CHARISMA UNIVERSITY
No.6 National Highway San Antonio,
San Pedro Laguna,
Philippines
Website: www.charismauniversity.org
E-mail: info@charismauniversity.org
Prospective students in Nigeria should contact Prof. Usman Ali Awheela
E-mail: awheela@gmail.com
Mobile Phone: +234 8032534636


 

 

 
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Association of Cost &
Management Accountants


Institute of Professional Financial
Managers (IPFM)

www.icpap.com.pk

www.ifap.org.pk

www.soae.edu.pk

www.ifmsglobal.org

Charisma University
www.charismauniversity.org
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