There are increased number of frauds that are being committed within the firms, due to which has lead to a rise in awareness within the businesses to protect and get rid of all the fraudulent individuals associated with them. The reason behind the demand for third party fraud examiners is one the rise.
Over recent years, an enormous boom of promising career opportunities in this field has been seen. If you have a nudge for studying deep into the records of the companies and have undertaken several skills development courses, as far as fraud examination is concerned, it is a technical job and demands a lot of experience. You can excel at this job at a very young age too.
Specific skills are required to become a professional fraud examiner. Some of them are briefly discussed below;
The essential thing which will make you a competitive fraud examiner is your knowledge. With a lot of expertise, conclusions will be easy to reach. You are required to read multiple books, develop a sharp mentality, and go through case studies for this task.
Understand the Technology
Technology and use of the software is a must for Fraud examiners and their job. The reason why they should have significant knowledge of software tools and technology. Additionally, evaluation of data, designing forensic analysis, following trails, and seeking conclusion has to be done by the fraud examiners, which can't be possible if he/she does not have significant exposure to the technology.
Accounting must be Known
If you lack the knowledge of accounting, corporate fraud examination isn't possible. Bank statements, financial documents, bills of transactions, tax returns, and other similar materials have to be gone through by the fraud examiner. You won't be able to become a professional fraud examiner if it's difficult for you to grasp the idea behind these documents.
Knows Corporate Hierarchies
Information about accounting and technology is an important aspect, and the corporate hierarchies should be known to the fraud examiner. This ultimately becomes easy for you to see where the data is when it comes to a corporation. Hence, this will help you to decide the place where you shall start your investigations.
You should know how to hold with one to work with the hierarchies of an enterprise. You should have strong interpersonal skills. You should have the ability to engage others and have a conversation about the things that are essential and is a matter of core importance in the path of your career as a professional fraud examiner. In-depth knowledge of - problem-solving, skills vs. process, fraud awareness, concepts, and critical thinking, and practical investigation skills.
Lastly, the person needs to have international capabilities. Privacy laws of multiple nations should be known to the fraud examiner and can speak various languages would be better in dealing with frauds in any parts of the world. The internationally active fraud examiners are highly in demand of the big corporations as compared to those work within close proximities.
The opportunities in this field are many, but you need to be at the very best of your skills to excel in it.
Know Your Objectives
If any business or organization wants to resolve specific allegations, the fraud examination is conducted. An audit in Dubai and other countries are generally managed to express a viewpoint on the financial statements or information related to it. The goal is to verify whether fraud is occurring and to check who is responsible. Therefore, the participants or the trainees will be able to:
- Identify the primary sources of attack from fraud criminals against banks.
- Confidently enter into investigations of different levels of complexity and achieve positive and sound results.
- Demonstrate accurate and new knowledge of fraud and money laundering.
Fraud has now reached unprecedented levels. It has evolved massively and now runs along widely-ranging differing lines of schemes, types, and ways of committing it, as a crime. Attacks against financial institutions and banks remain at the forefront of fraud and economic corruption.
The program- Fraud Examination addresses an essential element of identifying fraud activities and investigating them. The youth which is applying for this course shall have the confidence of learning fraud investigation and overcoming challenges. The route must include all types of small or straightforward cases, to large and complex or multi-involvement cases.
If you're counting for someone who can guide you regarding fraud examination services in Dubai or UAE in general, you can take the help of JAXA Chartered Accountants. At JAXA, we provide you with various Auditing and Accounting services in Dubai, which would suit the need of the company. For further details and to know on the services we provide do contact us - we would be happy to help.