What is forensic accounting? “Forensic accounting” consists of “forensic”, which has the connotation of criminal or investigative techniques, and “accounting”, which is keeping track of all financial aspects of a business. Thus, a forensic accounting expert uses forensic accounting investigation to find and testify about criminal activities such as fraud, money laundering and terrorist activities related to economic and financial activities. Forensic accounting consultants might also offer resolution or mediation services to courts and attorneys.
A forensic accounting masters degree can lead to a career that is interesting, exciting and fulfilling. These programs are often available online and aimed at the working professional. Some campus or land-based programs might be offered during evening or weekend time periods. This page has information about the programs, where they can be taken, the prospects, and more. You may also like to check out the accounting masters page.
What do forensic accounting masters programs cover?
Attention to details, an understanding of the legislative system and the ability to follow investigative trails where there are numbers involved are the skills required for those interested in this type of accounting.
Some universities require an undergraduate degree in Accounting or Business Administration, others do not. In either case, the forensic accounting masters program will require coursework in criminology and forensic theory. Finding criminal activity is only one part of the job. The forensic accountant also needs to be able to present the information in an effective manner during trial proceedings. Courses should include learning about the judicial system, evidence gathering and management and techniques for interviewing.
What additional training or accreditation is required?
Graduates of forensic accounting are expected to remain current on legislation and judicial system decisions that affect their field of expertise. The Association of Certified Fraud Examiners (ACFE) offers certification for those who pass a written examination. In order to sit for the exam, an applicant must have accrued 50 points in a system that ranks experience, classwork and degrees granted. Two years of experience in related fields such as fraud examination or prevention and a master’s degree qualify the individual to sit for the examination.
What are the career prospects?
The career field is one that masters graduates can find exciting, fulfilling and interesting. Forensic accountants examine financial records to determine if there are irregularities or discrepancies that could indicate evidence of deliberate falsification. Payroll accounts and income statements are reviewed to look for evidence that the firm or individuals might be attempting to embezzle funds. The use of technology to follow the accounting trails is part of the forensic process. The importance of this career field is growing in part because of the increasing number of federal regulations directed at the prevention of fraud.
Because graduates will have studied accounting or auditing, there are many types of job openings available. Graduate may also include coursework in economics or business administration, leading to even more opportunities to find work upon graduation. Jobs are available within large corporations, or a forensic accountant might choose to go into private practice. There are many government positions that come open within the justice system, treasury and other branches of bureaucracy.
Forensic accounting employment is on the increase. The Bureau of Labor Statistics has projected a growth in the number of forensic accounting jobs of around 22 percent from 2008 to 2018. This is higher than for most careers and is especially important because of the downturn in many other fields. It is believed that the projected growth is largely due to the increase in the number and complexity of regulations affecting and preventing accounting fraud.
Fraud examiners earned a median annual salary of $57,150 in 2008, while accountants and auditors earned a median salary of $59,430. Competition for the jobs will remain strong, in spite of the growth of positions in the field. This is largely due to the higher educational and certification requirements.
List of schools and programs
Founded in 1925, the University of Miami is consistently and consecutively ranked as a top 50 national university and the number one private university in Florida. With more than 15,000 students from around the world, the University of Miami is a vibrant and diverse academic community situated on several campuses located in and around the city of Miami.
- Masters in Professional Accounting
- Master's in Finance
At Kaplan University, we offer over 180 degree and certificate programs. With three different ways to learn, you can choose the format that works best for you:
- Study wherever you have an Internet connection, because almost all of our courses are 100% online, or
- Take campus-based classes(with day and evening options available), or
- Combine campus learning with online classes (blended).
- Master of Science: Accounting
- Master of Science : Accounting - Finance Specialization
- Master of Science : Accounting - Audit Specialization
- And more...
A degree from CTU can connect you to a powerful professional network, faculty who are real-world professionals and innovative technology. So once you earn your degree, you hit the ground sprinting. That’s the power of in. Are you in?
- Denver - Master of Science - Accounting
- Denver - Master of Business Administration - Accounting
- Denver - Master of Business Administration - Finance
The University of Alabama at Birmingham is a major public research university offering over 140 programs of study.
- Master of Accounting
At Globe University & Minnesota School of Business we prepare students for careers in fields. Imagine getting paid for what you love doing. It all starts with career-based training at any one of our Globe University & Minnesota School of Business campuses. We offer master's, bachelor's and associate degrees, diplomas and certificates. Our graduates can be prepared for careers in business, health science, technology, legal science and creative media.
- Master of Business Administration - Accounting emphasis
Study online with University of Maryland at College Park. We offer an online master of business administration program through our Robert H. Smith School of Business.
- MBA - Accounting
- MBA - Finance