The mission for which the Institute of Forensic Accountants (IFA), Nigeria was established includes:
- The promotion and development of the Science of Forensic Accountancy which is a unique blend of Education and Experience to apply Accounting, Auditing and Investigative Skills to Uncover Truth, Form Legal Opinions, to provide Qualified Members to Assist in both Litigation Support by providing Assistance on Cases which are primarily related to Calculation and Estimation of Economic Damages and Related Issues.
- The Advancement of Education, particularly Industrial and Commercial Education by involving the study of the skills of Forensic Accountancy for the benefit of the community in the fields of Industry, Trade and Commerce.
- In furtherance of the above object, but not otherwise the Institute is empowered:
To foster and maintain Investigations and Research into the best means and methods of Applying High Standards of Forensic Accountancy in Industry, Trade and Commerce, and to encourage, extend, increase, disseminate and promote knowledge and the exchange of information and ideas in regard to all questions relating thereto or connected therewith. And to be appointed to carry out an Investigation and Audit of organizations.
- To hold, carry on or arrange and conduct meetings, conferences, schools and visit, whether local, national or international, for those engaged in Forensic Accountancy in Industry, Trade and Commerce.
- To prepare and make available to Members Publications dealing with the objectives and functions of the Institute and to establish and maintain a Library available to the Members in order to aid in study of Forensic Accountancy in Industry, Trade and Commerce.
- To Prescribe, Uphold and Improve the Standards of Training, Experience and Skills of Persons engaged in Forensic Accountancy in Industry, Trade and Commerce.
- To Promote schemes of Examinations and Admissions for those seeking Qualifications as Forensic Accountants in Industry, Trade and Commerce.
- To establish such things as may Advance and Promote the Advancement of the Profession of Forensic Accountancy in Nigeria and Internationally.
- To form branches in any part of the world for the promotion of all or any of the above objects.