The Institute of Forensic Accountants (IFA) is the leading professional institution for training of qualified Forensic Accountants in Nigeria. IFA develops and promotes the science of Forensic Accountancy, which is a unique blend of education and experience in applying Accounting, Auditing and Investigative Skills to Uncover Truth, Form Legal Opinions and to Assist in Litigation Support. IFA Members provides assistance on cases which are primarily related to calculation and estimation of Economic Damages and Related Issues including White-collar Crimes. Forensic Accounting is the latest additional profile to the accountant’s business portfolio. There is an increasing demand for Forensic Accountant’s services and our experience has shown that this demand needs Qualified Forensic Accountants that are developed at a Professional Level and made available to the public.
Forensic Accountants often assist in litigation support. The Forensic Accountant provides crucial support in the early stages of the legal dispute by conducting reviews of the relevant financial documents to form an initial assessment of the case. Forensic Accountants also assist in cases relating to criminal matters which typically arise in the aftermath of fraud. Forensic Accountants are frequently involved in the assessment of accounting systems, policies and accounts presentation—in essence, to assess professionally whether if the numbers reflect the reality.
Forensic accounting engagements may fall into several categories. For examples:
- Economic damages calculations, whether suffered through tort or breach of contract;
- Litigation support ;
- Business/Employee fraud investigations ;
- Financial/Securities frauds;
- Business interruptions/Business failures;
- Computer forensics/e-discovery ;
- Discovery of hidden assets ;
- Professional negligence ;
- Matrimonial disputes, etc