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Paper 7 Forensic Accounting

The document outlines key topics and questions for the SPOM Set C Forensic Accounting exam, which consists of 80 questions worth 100 marks over 2 hours. It emphasizes that while the PDF provides a fair idea of potential questions, it does not guarantee completeness or accuracy, as the ICAI may introduce new questions. The document lists specific chapters and topics from the ICAI Study Material that are important for exam preparation.

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209 views

Paper 7 Forensic Accounting

The document outlines key topics and questions for the SPOM Set C Forensic Accounting exam, which consists of 80 questions worth 100 marks over 2 hours. It emphasizes that while the PDF provides a fair idea of potential questions, it does not guarantee completeness or accuracy, as the ICAI may introduce new questions. The document lists specific chapters and topics from the ICAI Study Material that are important for exam preparation.

Uploaded by

idontgetanyid
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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SPOM Set C - Paper 7 Forensic Accounting

➢ Please Note that 80 Questions for 100 Marks only 2 hours in SPOM Set C
➢ This PDF is only contained the topics which asked in my SPOM Set C test (Memory
based).
➢ This PDF does not guarantee in any way that this PDF is sufficient, but this PDF will
give you a fair idea as to how ICAI is asking questions and which topic to focus on.
ICAI may ask new questions every time, so the chances of repeating questions are
totally based on your luck!
➢ SET-C exam does not have any fixed topic wise weightage.
➢ The Chapter No. and Page refer in this PDF to ICAI Study Material

Chapter Topics Which I Remember


No.
1 1.3 LEGAL & REGULATORY RAMIFICATIONS (Learn Section No. and Name)
1.4 OPPORTUNITIES IN FORENSIC ACCOUNTING FOR CAs (Question on Litigation
Support Services)
2 2.4 THEORIES AND VULNERABILITIES OF FRAUD (All Theories equally Important)
2.5 INTRODUCTION TO FAIS (Table on Page No. 2.20 In Most Important [Specially
principle of performance])
3 3.1 CATEGORIES OF FRAUDS (Question Asked on 3.1.1 Background)
3.2 NATURE OF FRAUDS
3.2.2 Banking Fraud: Phishing scams, Insider fraud
3.2.3 Corporate Fraud: Insider trading
3.2.4 Insurance Fraud: Staged accidents, Arson
3.2.5 Securities Fraud: Ponzi schemes, Pump and Dump schemes, Churning, Front
running
3.3 OCCUPATIONAL FRAUD – FRAUD TREE (Page No. 3.22 Lapping schemes, Page No.
3.23 Other Skimming techniques, Cash larceny Page No. 3.25 Shell Company)
Page No. 3.40 Bribery
Page No. 3.50 Types of Cyber Crime
Page No. 3.60 Fraud by way of creating Shell companies
4 4.2.2 There are several types of financial statement fraud (Table)
4.3 LEGAL & REGULATORY PROVISIONS RELATED TO FS FRAUDS (Do Section No. with
Specific Example address financial statement fraud)
4.4.3 Some examples of fraud risk indicators with respect to opportunities may
include (Page No. 4.26)
In This Chapter I Thoroughly Studied Case Studies but Not a Single Question asked in
my exam
5 5.1.3 Engagement/ Appointment Letter (Page No. 5.4, 5.5 Must Do)
5.3.1 Types of Evidence which a forensic professional can come through includes –
Examples (Page No. 5.10)
5.4 PERFORM THE ANALYSIS - 5.4.2 Here are some specific examples of analytical
techniques (My Exam Question was specific on Data Mining)
Page No. 5.23 - Benford’s Law ( 2 Questions asked On this Law)
6 6.1 FRAUD PREDICATION/INDICATORS (B) (Question asked on Ascending order of all
three flags i.e Red Flag – Yellow Flag - Green Flag
6.1.2 Industry specific examples (Insurance Company)
6.2 QUANTITATIVE EVIDENCE- DATA MINING AND ANALYSIS
6.4.1.2 Engagement specific laws (One Specific Question on SEBI)
7 Page No. 7.10 Overview of evidence gathering process in the digital domain (Table)
8 8.2 THE INTERVIEW PROCESS
Page No. 8.10 One Question specifically on Closing an interview (signed minutes and
statements can be used as evidence)
8.4 Type of Questions and its Sequence (3 Questions asked in my exam Since all 5
types are important but question specifically asked on Assessment Questions)
TYK Question No.5 (same question asked)
9 9.1 SUMMARY OF FINDINGS (CHECKING ALL EVIDENCE) (Under the Broad points
Question specifically asked on Root Causes
Page No. 9.5 Question Specifically asked on Expert's Qualifications
Page No. 9.6 Question Specifically asked on Chain of Custody
Page No. 9.6 Question Specifically asked on Relationship Mapping
Page No. 9.6 Question Specifically asked on Reference to use of expert:
10 10.2.1 (c) Anti-fraud Policy
10.2.3 Common Internal Control List (Page No. 10.9)
The components of Code of Ethics for Professional (Page No. 10.12)

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