Forensic Accounting Programs

There are many colleges across the United States that offer forensic accounting classes both online and in the classroom. Otterbein is an example of the many schools that offers a complete selection of forensic accounting classes. This video will describe more about their excellent program and the opportunities these forensic accounting classes will afford. Forensic accounting may well be the business degree of the next decade. Check out the programs at  University of Phoenix and the many other programs that exist today!

What Is Forensic Accounting?
The forensic accountant calculates damage and helps in settling disputes before they reach the courtroom. If the dispute goes as far as the courtroom, the forensic accountant can double as an expert witness. In an investigation, they review the situation and come up with possible course of action, assist in the recovery of assets and work with private investigators and consultants.
As a part of the job, they may recommend the action that should be taken and the steps necessary to minimize future risk. They may also aid in the investigation of civil matters. For example, a forensic accountant may be hired to search for hidden assets in a divorce case.

Who Hires Forensic Accountants?
There are a number of industries that hire forensic accountants. Divorce disputes, investigation claims of business negligence and personal injury claims are a few fields that need the help of these professionals. Forensic Accountants find work in major accounting firms and are a part of investigating mergers and acquisitions, tax investigations and economic crime investigations.
Forensic Accountants work in all branches of the government, from the FBI, the IRS and the CIA to offices of the local authorities. Public companies are likely to increase the hiring of forensic accounting in the future, due to the need for strong internal control to comply with government demands for accurate financial reporting. More and more companies now realize that forensic accountants help in the detection and prevention of misuse of company resources.

How Can I Become A Forensic Accountant?
Most existing forensic accountants have a bachelor’s degree in accounting from schools such as University of Phoenix and a number of them have additional academic qualifications in fields such as law enforcement and criminal justice. To be a forensic accountant, you generally require a CPA designation. To increase your value as a forensic accountant, you can take the Certified Fraud Examiner Exam that is administered by the ACFE. By earning this certification, you can improve your chances of landing a better position.
 
What Other Skills Do I Need?
A forensic accountant has to combine the skills of a record keeper, a paralegal and a detective. In short, forensic accounting requires you to possess the ability to think logically. A capable forensic accountant must possess curiosity, persistence, discretion, organization, confidence, professional judgment and creativity. In addition, the forensic accountant must have good communication skills and the ability to listen patiently. You must be updated on recent developments in the field in order to be effective.
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About the AuthorTony Jacowski is a quality analyst for The MBA Journal. Aveta Solution’s Six Sigma Online offers online six sigma training and certification classes for lean six sigma, black belts, green belts, and yellow belts.

The level of complexity and the high tech nature seen in some recent financial crimes has raised the bar even higher to prevent and detect such criminal activity. This also has created a need for equally high tech tools to detect such activities. Some of the new forensic accounting labs in some ways rival their more famous crime lab cousins.

With traditional auditors not highly trained in this new technology there has rapidly developed a shortage of skilled forensic auditors and technicians similar to that seen in the IT and MSI arenas when the use of computers exploded. The criminal opportunities and potential for illegal gains will continue to grow as the world economy grows so the employment picture for those trained in forensic accounting at all levels looks very strong for years to come.

The following links will take you directly to the websites for a few of the top online forensic accounting programs:

University of Phoenix

Kaplan University: B.S. in Accounting / Auditing – Forensic Accountancy  Learn to detect, recognize, and prevent specific types of fraud committed against organizations and individuals. Combine your accounting and finance skills with law and investigative techniques, to judge whether or not an activity is illegal. Work with law enforcement or lawyers, serving as expert witnesses during trials.

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You can find a wide variety of programs available for online study in forensic accounting from schools such as University of Phoenix. There are great programs ranging from associate degrees to advanced masters degrees and online MBA programs in forensic accounting. You might be surprised to find that you do not need an advanced degree to enter the exciting and highly specialized area of investigative accounting. Many online schools also offer certificate programs with concentrated study to compliment your existing degree.

There are a number of excellent associate degree programs that will prepare you to help conduct financial Investigations by performing database analysis and using high tech software to find financial fraud and criminals. You will learn to focus on the ethical and legal issues that are represented by finanical data. The U.S. Department of Commerce reports that an associate degree in forensic accounting or other areas can give you a real boost in earning power with many individuals starting at over $30,000 per year.

If you are willing to spend a couple additional years studying forensic accounting online, there is an even broader range of programs and areas of concentration available at the bachelors degree level. A first year salary for a forensic accountant with a four year degree often exceeds $60,000 and many forensic accountants with advanced degrees earn over $200,000.

Select Schools Offering Online Forensic Accounting Programs:

 (Follow these links to visit that schools website)

Kaplan University: B.S. in Accounting / Auditing – Forensic Accountancy

Forensic Accounting
ByMichael Russell

Forensic accounting is one of the newly identified types of accounting jobs available. A forensic accountant is either an internal or external auditor who is brought in to investigate a case of fraud, bankruptcy or other legal conflict. He or she audits the situation and comes to a conclusion regarding the wrong doings and amount of loss involved. The auditor composes a report, which is often used as evidence in a court case. The forensic accountant may even testify personally.

Forensic accounting has arisen from the vast amount of scandals wreaking havoc in the business world the last few years. Enron and WorldCom caused severe loss for many owners and employees. The accounting profession heard the call and has made several mid-course adjustments to help assure these crimes won’t happen as easily ever again.

COMMON PROJECTS

Forensic accounting is a specialized form of auditing. Regular audits are required by the SEC or the company itself to assure compliance with accounting standards or company policy and procedures.

Forensic audits, on the other hand, are done because something happened that needs further investigation. It is not a matter of routine. Here are some examples of projects that may rely on forensic audit procedures:

Agent fraud – A descriptive and frequent example is with insurance agents. An insurance agent has a lot of access to personal information of his customers. A common fraud scheme is for an insurance agent to fake the application for his customer to take out a loan on the insurance policy. The agent keeps the proceeds from the loan and the customer can remain unaware of it for months or even years.

Insurance and personal injury claims – Many people falsify claims they make to insurance companies. This is another big area needing forensic accounting techniques.

Construction audits – Here, forensic accounting is used to make sure construction is done using the quality of components that was called for.

Royalty audits – In any situation where a worker, usually a performer, is owed royalties for the showing or airing of his work, a forensic accountant is often brought in to make sure he is being paid everything that is owed.

SEC inspections – Wall Street scandals abound these days and forensic accountants assist in following the financial information to find the wrongdoers.

Matrimonial disputes – Divorces settlements often use the skills of a forensic accountant to assure both parties get a fair settlement.

COMPETENCIES

To be good in Forensic Accounting, more than just an accounting degree is required. The forensic accountant uses more than just his spreadsheet and accounting skills. He or she must be willing and able to deal with the totality of the particular business situation under investigation. This includes analyzing the financial evidence, reporting it in various traditional and technical ways and perhaps even testifying in court. All delivered documents must be in such a format as to be used as court evidence. Therefore, the forensic accountant must be familiar with legal terms and procedures.

The Forensic Accountant must also be a good public speaker and an excellent writer, as well. He/she must be confident and articulate in convincing the court of the evidence he has uncovered.

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