Under the University Collaboration Program, Indiaforensic helps Universities to create the curriculum on the subject of forensic accounting and fraud investigations. Indiaforensic provides numerous resources to the Universities and also to manage the NAAC grades.
Background of University Collaboration
Committee of Sponsoring Organizations of the Treadway Commission (COSO), is a U.S. private-sector initiative, formed in 1985. Its major objective is to identify the factors that cause fraudulent financial reporting and to make recommendations to reduce its incidence. COSO has established a common definition of internal controls, standards, and criteria against which companies and organizations can assess their control systems.
COSO is sponsored and funded by 5 main professional accounting associations and institutes; American Institute of Certified Public Accountants (AICPA), American Accounting Association (AAA), Financial Executives International (FEI), The Institute of Internal Auditors (IIA) and The Institute of Management Accountants (IMA).
Due to questionable corporate political campaign finance practices and foreign corrupt practices in the mid -1970s, the SEC and the U.S. Congress enacted campaign finance law reforms and the 1977 Foreign Corrupt Practices Act (FCPA) which criminalized transnational bribery and required companies to implement internal control programs. In response, a private-sector initiative, called the National Commission on Fraudulent Financial Reporting (commonly known as the Treadway Commission) was formed in October 1985. The Treadway Commission issued its initial report in 1987 among other items it recommended the following for the improvement of education
- Throughout the business and accounting curriculum, academicians should promote the knowledge and understanding of the factors that leads to fraudulent financial reporting and the strategies that can help to a reduce the incidences of corporate frauds.
- Business and accounting students should be well-informed about the regulation and enforcement activities by which government and private bodies safeguard their financial reporting system and thereby protect the interest of the investors.
- The business and accounting curriculum should help students to develop stronger analytical, problem solving, and judgment skills to help prevent, detect, and deter fraudulent financial reporting when they become participants in the financial reporting process.
- The business and accounting curriculum should foster ethical values by integrating their development with the acquisition of knowledge and skills to help prevent, detect, and deter fraudulent financial reporting.
- Business schools should encourage business and accounting faculty to develop their own personal competence as well as classroom materials for conveying information, skills, and ethical values that can help prevent, detect, and deter fraudulent financial reporting. Business school faculty reward systems should recognize and reward the contribution of faculty who develop such competence and materials.
At some point Indian education system will also have to adopt the suggestions of the Treadway commission report and as a result we have come up with the University Collaboration Program with common syllabi for the universities and B-schools to be incorporated in their curriculum.
Riskpro – University Collaboration Program
University Collaboration Program is worth taking a look at if you are
- Business school running the Post graduate programs in Business management or MBA
- University listed under the University Grants Commission
- Autonomous University approved by University Grants Commission
We at Indiaforensic are committed to provide expert anti-fraud training to your students. Many Universities in USA have already started imparting the Masters Degrees in Forensic Accounting and Asian Universities should not be far away from the same.
How does the partnership work ?
Your B-School/Autonomous University/University need to agree with Indiaforensic on implementing a college level course entitled Forensic Accounting/ Fraud Risk Management, as either an assignment or optional topic or a complete one subject in an undergraduate or graduate level accounting or finance program. Upon completion of the course, Indiaforensic will provide the examination CD’s for the students and B-school/Autonomous University/University will send us back the same for evaluations once the students write the exams.
Indiaforensic will provides your institution with the following resources to support your Forensic Accounting course:
- Resources for the professors – Indiaforensic offers a syllabus, teaching aids, suggested textbooks, and Copies ( number to be decided from time to time) of Forensic Accounting Reference Guide for your campus library.
- Recognition on our website – The list of participating B-schools/Universities/Autonomous Universities connects the Student with the other B-Schools/Universities/Autonomous Universities by providing contact information for interested Students.
- Assistance Finding Guest Lecturers – Indiaforensic can also provide the contacts of the anti-fraud professionals who are generally the experts in the field of forensic accounting and fraud investigations to donate their time to provide guest lectures.