Corporate fraud and white-collar crime have shown a relentless increase in India and the world despite all attempts by Governments and regulators to curb it. Enron and Satyam are two high-profile examples. To curb this, laws are being tightened in India.
Under the new Companies Act of 2013, shareholders and depositors can claim damages from corporates and their auditors for any wrongdoing. Demand for experts in Forensic Accounting and Corporate Fraud is bound to rise rapidly. To meet this demand, BMU has introduced, for the first time in India, an MBA in Finance with a specialization in Forensic Accounting and Corporate Fraud.
For this course, it has tied up with KPMG – one of the top 4 accounting firms in the world. As a part of the agreement, KPMG will prepare the course structure, develop and procure course content, make suitable technical faculty available for delivering training to participants on KPMG ‘Forensic Accounting and Corporate Fraud’. A team from KPMG, led by Mr. Akhil Bansal, Dy CEO, KPMG in India, and Mr. Sunil Kant Munjal, Chancellor, BMU, officially announced this academic partnership.
In addition to preparing the course structure, developing or procuring the course content, and providing training in Forensic Accounting and Corporate Fraud for the MBA course, KPMG will also provide the students access to its LMS (Learning Management System) support covering session videos and presentations, features like “Ask an Expert” and assessments. Traditionally jobs in accounts have been considered boring but these will be anything but – what with tracking down fraudsters, embezzlers, and money launderers!
Announcing the launch, Mr.Sunil Kant Munjal said, “We are happy to engage with KPMG for the Forensic Accounting and Corporate Fraud specialisation for our MBA course, which shall be the first course of its kind in India. KPMG’s credentials in this domain are exemplary and I sincerely believe that together we can develop a world class programme to fulfil a deficit in professional manpower in the area of forensic accounting.”
Commenting on the collaboration, Mr. Akshay Munjal, President, BML Munjal University said, “There is an unprecedented opportunity for entry-level and seasoned practitioners in the fraud examination and financial forensics fields globally. Our engagement with KPMG will allow our MBA students to gain knowledge from experts with practical experience in forensic services, thereby improving their employability prospects upon graduating from the University.
MBAs in this specialization will be able to get jobs in Government, Banking, Insurance, Consultancy, and the Corporate sector.