Master Analyst in Financial Forensics (MAFF)
What Is a Master Analyst in Financial Forensics (MAFF)?
A Master Analyst in Financial Forensics (MAFF) is a particular accounting certification that guarantees one's expertise in recognizing financial crimes. It is offered by the Financial Forensics Institute, a subsidiary of the National Association of Certified Valuation Analysts (NACVA). The MAFF has number of requirements, including specialist accounting certifications as well as viable experience. Competitors must breeze through an assessment and afterward meet post-certification requirements, like continuing education to keep up with the qualification.
Figuring out a Master Analyst in Financial Forensics
Forensic accounting uses accounting, auditing and insightful skills to conduct an examination into the finances of an individual or business. Forensic accounting gives an accounting analysis suitable to be utilized in legal procedures. Forensic accountants are prepared to look past the numbers and deal with the business reality of a situation. Forensic accounting is habitually utilized in fraud and embezzlement cases to make sense of the idea of a financial crime in court.
Master Analyst in Financial Forensics holders can decide if there is evidence of crime by dissecting a business or association's financial statements. MAFFs much of the time work with lawyers in litigation or act as expert observers in trials. The Master Analyst in Financial Forensics assignment was recently called the "Certified Forensic Financial Analyst (CFFA)." Its name was changed on April 12, 2013. Any individual who recently held the CFFA certification must now utilize the new name.
Master Analyst in Financial Forensics Qualifications
Requirements for acquiring and keeping up with the MAFF assignment incorporate educational and professional certifications, work experience, business and professional references, specific training, an examination and progressing education. MAFFs and prospective MAFFs must likewise keep up with active NACVA membership.
Possibility for a Master Analyst in Financial Forensics certification must initially hold one of the accompanying certifications: CVA — Certified Valuation Analyst; ABAR — Accredited in Business Appraisal Review; ABV — Accredited in Business Valuation; ASA — Accredited Senior Appraiser; AM — Accredited Member of the ASA; CBA — Certified Business Appraiser; CBV — Chartered Business Valuator; CDFA — Certified Divorce Financial Analyst; CFA — Chartered Financial Analyst; CFE — Certified Fraud Examiner; CFF — Certified in Financial Forensics; CIRA — Certified Insolvency and Restructuring Advisor; CMA — Certified Management Accountant; CM&AA — Certified Merger and Acquisition Advisor; Cr.FA — Certified Forensic Accountant; CPA — Certified Public Accountant; CA — Chartered Accountant; MCBA — Master Certified Business Appraiser; or other accounting or financial credentials subject to NACVA endorsement, and a four year certification in a business field from an accredited college/school or a master's degree or doctorate in a field of business.
MAFF up-and-comers must pass a two-section, five-hour delegated exam that follows NACVA's Financial Forensics Body of Knowledge (FFBOK). To prepare for the exam, NACVA supports and suggests a five-day course entitled, Financial Litigation Consulting Professionals Workshop.
MAFF up-and-comers must pick one of the accompanying areas of specialization:
- Commercial Damages and Lost Profits
- Wedding Litigation
- Bankruptcy, Insolvency, and Restructuring
- Business Valuation in Litigation
- Business and Intellectual Property Damages
- Personal Injury and Wrongful Death
- Forensic Accounting
- Fraud Risk Management
In the event that competitors are deficient in professional or viable experience, they might have the option of going to a NACVA-supported training program. For more, see NACVA's MAFF Qualifications and its MAFF instructive page.
- Forensic accounting is a financial specialty that looks to investigate and uncover embezzlement, accounting fraud, or financial crimes.
- Since this sub-field is exceptionally particular and surpasses the requirements of a CPA or auditor, the Master Analyst in Financial Forensics (MAFF) assignment was made.
- The people who wish to earn the MAFF must be a member of the NACVA association and right now hold a qualified accounting assignment as well as finishing a thorough exam.