An Exploring Forensic Accounting in Education, Practice and Opportunities in India

Abstract

This study examines the role of forensic accounting in India, emphasizing its educational framework, practical implications, and expanding professional prospects. It underscores the rising significance of forensic accounting amid growing financial misconduct and the demand for expertise in identifying and mitigating such risks. The complexity of modern financial systems and the prevalence of fraud highlight the need to incorporate forensic accounting into higher education curricula at both undergraduate and postgraduate levels. However, many academic programs lack dedicated forensic accounting courses, revealing a critical gap in preparing students for this field. The paper highlights the benefits of forensic accounting education, including its potential to strengthen corporate oversight, improve fraud detection techniques, and enhance career pathways for students. It also discusses challenges in integrating forensic accounting into existing academic structures and offers actionable recommendations. Proposed strategies include expanding faculty expertise in forensic accounting, incorporating advanced technologies such as data analytics and IT skills into curricula, and raising awareness of the discipline’s importance. By embedding forensic accounting within educational programs, institutions can equip graduates with the tools needed to combat financial fraud, thereby reinforcing the stability and trustworthiness of global financial systems.