Role : Forensic Analyst

Division : Institutional Equities

Reporting to : Head - Institutional Equity Research

Work Location : Mumbai

Job Summary - 

The Forensic Accounting Analyst will review financial statements and other records of listed companies available in the public domain and provide detailed analysis to help uncover essential facts and insights. He will support the equity research team and provide institutional clients of the firm with deep insights based on forensic analysis.

In-depth knowledge of the balance sheet, income statement, and statement of cash flow requires an understanding of how changes of consistent or inconsistent trending patterns impact the income statement and cash flow.

Your ability to determine inconsistencies, or unexplainable changes in the income statement and balance sheet will assist you in the beginning stage of forensic financial analysis. Your ability to acquire an investigative perseverance requires an ability to analyze below the surface. Expert knowledge of Accounting Standards and their impact on financial statements is imperative.

Job Description - 

I] Forensic Accounting

Forensic Accounting Analyst will undertake detailed accounting investigations and assessments of accounting irregularities such as:

- Interpretation of accounting standards and assessment of the propriety of accounting treatment for specific transactions under various accounting standard setting regimes, including IndAS, International Financial Reporting Standards (IFRS), US GAAP and UK GAAP versions of Indian companies

- Investigation and analysis of allegations of fraudulent or false accounting

- Analysis and tracing of funds and transactions

- Impact of change in accounting policies or estimates

- Analyze the financial condition by performing a horizontal and vertical analysis of the balance sheet and income statement. The use of industry standard statistics is essential in the analytical process, as a means of verifying the condition of ratios and financials in relation to standards.

II] Financial Analysis

He will provide analyses of financial statements and other accounting information to clients interested in gaining a better understanding of specific companies which may include - 

- Assessments of accounting profitability and economic profitability of a company, investment or project

- Analysis of balance sheet metrics, including capital adequacy, risk-adjusted return on capital, short- and long-term funding requirements

- Analysis of complex capital structures and company leverage

- Liquidity and solvency assessments

- Assessment of appropriate post-acquisition price adjustments arising from discrepancies between the expected and actual balance sheet or working capital values

These assessments of company financial and accounting data can help to illustrate a company's performance over time or show how a company may have been affected by specific events.

Forensic Accounting Analyst will identify/investigate financial statement frauds like:

- fictitious sales

- improper expense recognition

- incorrect asset valuation

- hidden liabilities

- unsuitable disclosures

Requirements:

- Proven work experience as a Forensic Accountant, CA or CPA or relevant role

- Thorough knowledge of Generally Accepted Accounting Principles (GAAP) including IndAS

- Experience with accounting and financial procedures

- Understanding of forensic auditing procedures

- Familiarity with accounting software and spreadsheets

- Strong investigative and analytical skills

- Excellent numeracy skills with an ability to spot inaccuracies

- The ability to handle confidential information

In addition to strong accounting skills and legal knowledge, forensic analyst must have the following:

- Remarkable curiosity

- Attention to detail

- Persistence

- The ability to think creatively

- Communicate effectively

- Analytical and research skills

- Excellent drafting/report writing skills

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