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    Why is MBA in Forensic Accounting and Corporate Frauds Gaining Popularity?

    by BML Munjal University December 19, 2018

    India is fast emerging to be a global power armed with huge technological development and a robust economy. But it has also witnessed a steady increase in financial scams and white-collar crimes that have turned out to be a huge setback for its progress. With the advancement of technology, the incidences of cybercrimes have also ravaged the finances of many corporate houses. Many talented students in India aspire to make a career as a management professional and climb up the corporate ladder.

    An MBA program in Forensic Accounting and Corporate Fraud can arm such young professionals with the right knowledge to prevent and tackle financial crimes. The growing popularity of Forensic Accounting can offer huge prospects for job seekers and help financial firms to keep their funds secure.

    Importance of Forensic Accounting in the Current Scenario

    Some high-profile financial scams have rattled the Indian economy within the last ten years. From the Satyam Scam (2009), the VVIP Chopper Scam (2013), Vijay Mallya Kingfisher Scam (2016) to the latest Nirav Modi Scandal (2018), the notorious financial scams have made fraud management the need of the hour in this country. In India, the importance of Forensic Accounting even has historical significance. Kautilya was the first Indian to mention in his book Arthsashtra about the necessity of forensic accounting to tackle about forty types of financial embezzlement. The Mughal emperor Akbar had trusted upon his advisor Birbal to investigate financial crimes with the help of his wit and tricks, most of which bear a striking resemblance to today’s forensic accounting techniques.

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    Modern Forensic Accounting covers Litigation Support and Investigative Accounting along with Computer Forensics and Fraud Management. The following points describe the importance of forensic accounting in today’s world.

    • Forensic Accounting is needed to curb the chances of fraud within an organization. With the help of investigative accounting and internal audits, the company can minimize the chances of letting a fraudster go uncaught.
    • Forensic Accounting is extremely important in the event of a criminal investigation of financial fraud as it can provide detailed reports to help with the investigation.
    • A company can utilize forensic accounting to minimize losses and check the professional negligence of its employees.
    • Forensic Accounting can be helpful to settle matrimonial disputes and insurance claims.
    • With the help of forensic accounting, a firm can improve its overall efficiency and reduce risks of exploitation.
    • A company can avoid legal problems with the help of forensic accounting and thus progress its brand reputation.
    • Forensic Accounting can be useful in the development of various computer programs to prevent cybercrimes.

    What is an MBA in Forensic Accounting and Corporate Fraud?

    An MBA in Corporate Fraud and Forensic Accounting is a specialized post-graduate course to provide students sufficient knowledge in fraud management. This course is currently among the most popular upcoming fields of study for MBA students in India. Students studying this course will learn the following through the course of study.

    • How to handle and prevent financial crimes within or outside an organization.
    • Detect white-collar crimes like embezzlement, money laundering, and tax evasion.
    • How to create detailed reports or presentations that can help lead criminal investigations.
    • Basic principles of management and communication.

    Why study an MBA Forensic Accounting in India?

    A graduate in India willing to pursue an MBA can look forward to the field of Forensic Accounting and Corporate Fraud because of the following reasons.

    • An MBA in the field of Forensic Accounting and Corporate fraud can provide students with in-depth knowledge of fraud management and preventing business crimes.
    • With the knowledge can track down money launders and fraudsters with their great analytical skills and investigative techniques and thus can be extremely valuable for the firm.
    • Students can get vast employment opportunities in both the public and private sectors as most financial firms are looking for highly qualified forensic accountants with managerial skills.
    • With the introduction of the Companies Act (2013), the demand for Forensic Accountants has increased rapidly.
    • A management degree in this field can help the student can have an edge over Chartered Accountants who are only equipped with the knowledge to manage the finances of a firm but not detect the financial wrongdoings.
    • Companies are willing to hire MBAs specialized in this field of Forensic Accounting as this will save them time and expenses in training their Chartered Accountants in Corporate Fraud Management.

    Forensic Accounting

    Job Profile

    An MBA in Forensic Accounting and Corporate Fraud has to perform the following duties when employed with an organization.

    • Assess and evaluate financial documents of the firm to make sure they comply with the rules and law.
    • Perform an internal and external audit to determine any financial abuse within the company or outside.
    • Provide necessary advice to the company in the event of suspected financial abuse.
    • Prepare detailed reports of their findings and get involved in the investigation.
    • In the event of a criminal investigation provide the necessary data to lead the investigation.
    • Detect and prevent financial crimes including embezzlement, customer fraud, vendor fraud, financial statement scams, tax evasions, and stock market fraud.
    • Settle disputes including insurance claims, legal disputes, and marital disputes.

    So with highly specialized skills of Forensic Accounting and managerial skills acquired in the MBA course, a professional can be of immense value to the organization.

    Where to Study in India?

    BML Munjal University had introduced the first MBA program in the field of Forensic Accounting and Corporate Fraud in India in 2014. It is a 2-year full-time degree course for graduate students. BML has partnered with some of the biggest accounting firms in the world, like KPMG, to prepare its curriculum. Other benefits that the course offers to the students are provided below.

    • Highly skilled advisors from KPMG and Forensic Advisory will provide specialized training in corporate fraud management to the students.
    • Students will get access to KPMG’s Learning Management System (LMS).
    • Students will be provided with training through video sessions, presentations, and live projects.
    • Students will be able to get industry exposure as BML has industry tie-ups with various big names including Siemens, Coca-Cola, Intel, and Shell Global.

    Probable Areas of Study

    BML Munjal University’s specialized MBA Program in the field of Forensic Accounting and Corporate Fraud will likely cover the following areas of study.

    • Business Laws and the Overview of Fraudulence& Misconduct
    • The fraudulence of Financial Statement
    • Auditing and Accounting
    • Frauds in the Digital Environment
    • Casework Analysis along with contextualization of Sector
    • Palm Greasing & Asset Misappropriation

    Additionally, students will get the opportunity to participate in research projects. The university also promises to provide internship opportunities to its students. Students will get a dedicated 56 hours of coursework for both research and internships.


    Students are having a minimum of 60% in their Bachelor’s Degree and a CAT/XAT/GMAT/MAT/CMAT/ATMA score will be eligible for an MBA program in Corporate Fraud and Forensic Accounting. Candidates with work experience may be preferred during employment.

    Salary and Prospects

    Students who have already completed their Chartered Accountancy can greatly benefit from an MBA program in this sector. The prospects of pursuing this degree are mentioned below in the following points.

    • Graduates can find employment in both the public and private sectors. Banking, Insurance, Corporate sectors, and Consultancy Firms can rope in such professionals to keep their assets secure.
    • Some of the notable companies that have shown interest to hire candidates with an MBA degree in this field are KPMG, Ernst and Young, Deloitte, and many other MNCs.
    • Students can also find employment opportunities in the Government Sectors.
    • Students can also find employment abroad with Indian companies that have their business abroad.
    • MBA graduates with a CA degree can draw huge remunerations, as high as Rs 16 lakhs to Rs 20 lakhs per year.

    However, students with ordinary Bachelor’s Degrees may not earn as much as those with CA. Overall, the course has a good prospect for students both in the country and abroad.


    An MBA program in Forensic Accounting and Corporate is a relatively newer area of study in India. However, with the present scenario of more and more financial frauds in the country coming into the picture, this can soon gain tremendous attention and become the most popular field of study in the future. This field of Corporate Fraud and Forensic Accounting deserves to be explored extensively to deal with the corruption and fraudulent cases that our country is facing presently.

    So students interested in this field of study can be of great value to both government organizations as well as private firms. With the increasing popularity of this course, one can expect that an increasing number of top B-Schools in India will be willing to include this program in their curriculum. Such a course can produce bright, talented professionals, equipped with the knowledge, to be the eyes and ears of an organization and help it thrive among its competitors in all fairness.

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