Forensic Accounting

Forensic Accounting Degree

Forensic accountants use their auditing, accounting, and detective skills to assist in criminal investigation, dispute resolution, and litigation support. There is growing demand for forensic accountants as instances of financial scandal and fraud in the workplace occur more and more frequently. Forensic accounting and financial forensics are currently very hot career paths to take.

Forensic accounting is a highly specialized career, so education and proper training are crucial to employment. Degrees in forensic accounting and financial forensics are available at both the bachelor and master’s degree levels.

Forensic Accounting Degree Options

Most forensic accounting positions require applicants to have bachelor’s degrees. A bachelor’s degree in financial forensics will prepare students to detect, investigate, and resolve instances of financial fraud and crime. Students will also be trained to prepare and interpret financial statements, by completing additional coursework in finance, management, mathematics, criminal justice, and law. Graduates of a financial forensics bachelor’s degree program, with at least two years of relevant experience, will be eligible to sit for the Certified Fraud Examiner (CFE) or Certified Financial Forensic Accountant (CFFA) exams.

A forensic accountant’s earning potential and chances for promotion are strongly correlated with education level and experience. Because this is true, many forensic accountants go on to earn a master’s degree. A master’s of forensic accounting degree closely resembles a master’s of accounting degree, but includes an added concentration in forensic investigation. Graduates of this program will not only be eligible to work in financial forensics, they will also be qualified to work as accountants in other fields. By earning this degree, graduates would be able to sit for the Certified Public Accountant (CPA), CFE, or CFFA exams.

Job Outlook for Forensic Accountants

Because the United States is shifting toward an information-based economy, forensic accounting is considered to be a very secure career choice for the foreseeable future. It has also become the “hottest” area in the field of accounting with very high earning potential. Forensic accountants, on average, earn salaries of $74,000. Forensic accountants often earn a salary well into six figures as experience and education advance.

Source: Bureau of Labor Statistics, U.S. Department of Labor, Occupational Outlook Handbook, 2008-2009 Edition