Forensic Accountant Career Guide

Forensic accounting is one of the fastest growing fields in law enforcement today. These specialized accountants examine tax and business records to identify irregularities that can impact major criminal and civil cases. They are considered a hybrid form of certified public accountants who use forensic accounting to detect and/or find evidence of embezzlement, corruption, and other financial crimes.

Forensic Accountant Career Description, Duties, and Common Tasks

Those accountants who specialize in forensics use their financial expertise to investigate suspected financial crimes, such as embezzlement. To accomplish this goal, they also:

  • Conduct forensic auditing
  • Identify discrepancies in funds between public companies and their employees
  • Prepare expert witness testimony for criminal or civil cases
  • Review statements from Fortune 500 firms

How to Become a Forensic Accountant: Requirements and Qualifications

These accountants generally need a minimum of a bachelor’s degree in accounting or business, a certificate in public accounting, and advanced coursework in criminal investigation, especially as it relates to financial record keeping. Some organizations, however, may require candidates to hold a master’s degree or higher. There are also forensic accounting degrees that focus on preparation for a forensic accounting career.

Forensic Accountant Job Training

Training depends on the organization for which the accountant works. Those forensic accountants who secure a position with the FBI, for example, must complete six weeks of training upon hire. That training covers such areas as financial investigation techniques and topics, how to testify as an expert witness, and legal training.

Other Helpful Skills and Experience

Candidates must be able to communicate effectively both in writing and orally as they may have to write reports and to testify as an expert witness in court. Accountants, who specialize in forensics, generally obtain certification from such organizations as the American Institute of CPAs. Successful candidates should also possess knowledge of such topics as credit card fraud, embezzlement, insurance claims, and white collar crimes. Accountants with experience in law enforcement or within the criminal justice system may have a hiring advantage.

Examples of Possible Job Titles for this Career

  • Certified forensic accountant

Career Opportunities and Employers

Forensic accountants may work in state or federal law enforcement, including with the Federal Bureau of Investigation (FBI), the United States Secret Service, or on behalf of large financial institutions. Accountants, who specialize in forensics, may start their own consulting business or advance to a supervisor position.

Forensic Accountant Salary and Outlook

Forensic accounting jobs are seeing strong growth, in large part due to increasingly stringent federal and state regulations concerning financial disclosures and dealings. Although the Bureau of Labor Statistics doesn’t provide statistics for forensic accountants, it reports that the median annual salary for government accountants and auditors, which includes forensic accountants, was $61,490 in 2012.1 The BLS projects that employment will grow 13% for all accountants and auditors from 2012 to 2022.1

Frequently Asked Questions About This Career

Can forensic accountants specialize in a particular area?
Yes. They can and often do specialize in such areas as computer forensics, bankruptcy fraud, insurance claims, and personal injury.

What type of hours do forensic accountants work?
They generally work a normal 40 hour a week schedule. However, overtime may be necessary when preparing for a court appearance or for a trial.

Is CPA certification necessary to become a forensic accountant?
Yes. You generally must obtain your Certified Public Accountant credential to find employment as a forensic accountant.

Additional Resources

Association of Chartered Certified Forensic Accountants – An organization of certified forensic accountants that promotes education, training, and professionalism.

Forensic CPA Society – An international organization, with members from 37 countries, that provides study preparation and certification opportunities.

National Association of Forensic Accountants – A network marketing and learning association that provides certification and training.

The Institute of Certificate Forensic Accountants – An organization dedicated to promoting the field of forensic accounting and to helping accountants develop their craft.

Schools Offering Accounting and Criminal Justice Degrees

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Post University
Campuses: 1Online
Popular Degrees:

  • Certificate: Forensic Accoutning
  • A.S. in Accounting
  • B.S. in Accounting

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New England College - Online
Campuses: 1Online
Popular Degrees:

  • Master of Science in Accounting - Forensic Accounting
  • Master of Science in Accounting

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Virginia College
Campuses: 1Online
Popular Degrees:

  • AS - Accounting Specialist
  • BS - Private Sector Accounting

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Capella University
Campuses: 1Online
Popular Degrees:

  • BS - Accounting
  • PhD - Accounting
  • DBA - Accounting

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Independence University
Campuses: 1Online
Popular Degrees:

  • Accounting - Forensic Accounting (BS)
  • Business Management & Accounting (AAS)
  • Business Management & Accounting - Retail Sales Management (AAS)

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University of Phoenix
Campuses: 1Online
Popular Degrees:

  • B.S. in Accounting
  • M.S. in Accountancy
  • Graduate Accounting Certificate

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Liberty University
Campuses: 1Online
Popular Degrees:

  • CERT: Accounting
  • AA in Accounting
  • MS in Accounting


Related Careers

Interested in a career similar to forensic accounting? Check out these related careers:

References:
1. Bureau of Labor Statistics: http://www.bls.gov/ooh/business-and-financial/accountants-and-auditors.htm
2. Association of Certified Fraud Examiners: http://www.acfe.com/career-path-forensic-accountant.aspx#knowledge
3. Federal Bureau of Investigation (FBI): http://www.fbi.gov/news/stories/2012/march/forensic-accountants_030912

Page Edited by Charles Sipe.