Masters in Forensic Accounting Programs Overview
As a specialized accounting program a Masters in Forensic Accounting Program helps graduate students, accounting and security professionals cultivate the skills necessary to develop expertise and competency in the area of forensic accounting examinations and inspection of fraud.
As a student of forensic accounting, you have the opportunity to focus your master’s degree on the exciting and often complex integration of accounting, audit, legal and investigative skills in the prevention, detection and investigation of financial fraud and dispute resolution.
Masters degrees in Forensic Accounting programs usually take 1 to 2 years, and may involve hands on learning, graduate admissions testing and accounting experience. The typical prerequisite for admissions is a Bachelor's degree preferably in accounting, business or finance.
What is Forensic Accounting?
Forensic accounting, or financial forensics is a specialized area of accounting that uses accounting skills such as auditing to investigate fraud or embezzlement and to analyze financial information for use in legal proceedings.
FACT: “Forensic” means “suitable for use in a court of law”[i]
In a Masters Degree in Forensic Accounting, students may learn how forensic accounting principles can be applied to complex financial transactions, such as mergers and acquisitions, bankruptcies and contract disputes. Furthermore, you may study how results of forensic accounting reports are used in court cases to prosecute white-collar criminals.
What is a Forensic Accountant?
Forensic accountants are professionals who work with law enforcement personnel and lawyers to assist in investigating and prosecuting individuals for crimes such as financial fraud or other illegal activities. The two major areas in this discipline that a specialist helps with are litigation support and investigative accounting. An example of litigation support is quantifying economic damages such as the loss created by a breach of contract. Investigative supporting might cover a variety of areas such as insurance or securities fraud or employee theft. Particularly with investigative accounting, the forensic accountant is part detective and searches for clues to solve a mystery. Forensic accountants also provide support in other interesting areas – for example cybercrime.