To become a forensic accountant, one must have a bachelor’s degree in a financial discipline, pass the Uniform CPA Exam, have at least two years of experience in general accounting work, and obtain additional certifications such as CFE and CFFA. Forensic accountants investigate financial crimes, resolve disputes, and serve as witnesses in court cases. They must have excellent communication and analytical skills, and can expect a higher salary than regular accountants.
Those who want to earn a degree in forensic accounting must follow a coursework that involves college education, formal exams, and certifications. Financial accountants first earn a bachelor’s degree in a financial discipline, such as accounting, finance or economics. Some schools offer forensic accounting as a major, but if not, a master’s in forensic accounting can be obtained.
Many forensic accountants choose to become Certified Public Accountants (CPAs) before earning a degree in forensic accounting. Becoming a CPA requires 150 credit hours of college coursework, or about five years of education at both the undergraduate and graduate levels. Upon completion, hopeful forensic accountants must pass the Uniform CPA Exam, a four-part test. Additionally, those looking to earn a degree in forensic accounting must have at least two years of experience in general accounting work. That’s why many forensic accountants start out as a general accountant before getting the extra education and licenses needed to earn a degree in forensic accounting.
Additional certifications recommended for forensic accountants are Certified Fraud Examiner (CFE) and Certified Financial Forensic Accountant (CFFA). These licenses require passing additional four-part tests on the CFE and CFFA exams. Before doing so, the candidate must have a bachelor’s degree and two years of experience in the field. After passing the CFE test, the forensic accountant can apply for an additional industry certification called a Forensic Examiner Diplomate (FED).
Upon completion of the required courses, exams, and licenses for a degree in forensic accounting, the forensic accountant can join groups such as the American College of Forensic Examiners. Membership in this group, along with certifications, denotes an advanced level of expertise in the field of forensic accounting. A degree in forensic accounting means that the accountant has a high level of knowledge in financial crimes, because accountants investigate financial crimes using accounting and auditing procedures. In addition, this type of accountant helps resolve disputes over contracts, helps clients deal with bankruptcies, and serves as a witness in court cases.
Forensic accountants must have excellent communication skills because they deal with clients on a regular basis. Good analytical thinking skills are also crucial, as well as a solid understanding of accounting, finance and budgeting. Forensic accountants must be curious by nature and able to juggle numbers and statistics. Because of the interaction with the law, these accountants must be able to organize materials, present data and facts clearly and coherently, and facilitate understanding by those who lack a financial background.
Those who earn a degree in forensic accounting can expect to earn a higher salary than regular accountants because of the legal work involved. Forensic accountants can work within a company or as a consultant, such as an internal auditor, IRS auditor, bankruptcy specialist, bank examiner or chief financial officer. Forensic accounting is a rapidly growing industry due to widespread financial fraud.
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