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Forensic Accounting Degree

Forensic Accounting Degree Requirements

Forensic accounting degree programs generally come in two tracks: a bachelor’s degree in forensic accounting or a post-baccalaureate certificate for those who have already begun their accounting careers. Admissions requirements depend on the institution, but are generally similar to those required for those in business majors. Forensic accounting students take classes in accounting and money management, but they also take courses on criminology and ethics to learn why criminals may use questionable practices in managing their money.

Did you know? Famous gangster Al Capone was prosecuted for tax evasion with the help of a forensic accountant from the IRS. More recently forensic accountants have been involved in huge cases from the 9/11 terrorist attacks to corporate fraud at Enron.

Source: New York State Society of CPAs

Forensic Accountant Job Descriptions

Forensic accountants are investigators but they don’t chase down criminals running away from the police. Instead, they are usually focused on white collar criminals and organized crime, and use advanced accounting techniques to detect fraud and malfeasance in corporations, or to track down evidence to prove allegations of corruption by organized crime figures. Their specialized skill set helps them to find employment with a variety of state and federal agencies engaged in law enforcement investigations.

Forensic accountants generally work with law enforcement agencies, where they examine financial records for evidence of fraud. They are employed by the FBI, IRS, as well as local police departments. In addition to investigating money laundering and corruption, forensic accountants may be asked to appear as expert witnesses in trials of criminal figures and put their findings into plain English. They may also serve as consultants in civil cases regarding contract disputes or in high-value divorce cases.

CJDS Fact: Unlike many other professions, there are no standards for education for forensic accountants. However, advanced education and experience certainly helps.

Source: New York State Society of CPAs

Forensic Accountant Salaries and Job Outlook

Forensic accountants, like other accountants and auditors, are in particular demand as securities regulations change and businesses and individuals come under more scrutiny for their financial dealings. The Bureau of Labor Statistics projects jobs to grow about 16% for accountants and auditors from 2010-2020.¹ The median annual salary for accountants and auditors is $61,690 as of May 2010 according to the BLS.¹ Salaries can increase for those who move from the public to private sectors or who move from state to federal agencies.