Career Profile: Forensic Accountant
Find out what it takes to be a forensic accountant.
November 22, 2011
Some public accountants specialize in forensic accounting—investigating and interpreting white-collar crimes such as securities fraud and embezzlement, bankruptcies and contract disputes, and other complex and possibly criminal financial transactions, including money laundering by organized criminals. Forensic accountants combine their knowledge of accounting and finance with law and investigative techniques to determine whether an activity is illegal. Many forensic accountants work closely with law enforcement personnel and lawyers during investigations and often appear as expert witnesses during trials.
Median Annual Salary
Most accountants and auditors need at least a bachelor’s degree in business, accounting, or a related field. Many accountants and auditors choose to obtain certification to help advance their careers, such as becoming a Certified Public Accountant (CPA).
Licensure and Certification
The Association of Certified Fraud Examiners offers the Certified Fraud Examiner (CFE) designation for forensic or public accountants involved in fraud prevention, detection, deterrence, and investigation. To obtain the designation, individuals must have a bachelor’s degree, 2 years of relevant experience, pass a four-part examination, and abide by a code of professional ethics. Related work experience may be substituted for the educational requirement. Job Outlook
Advance Your Career
Employment of accountants and auditors is expected to grow by 18 percent between 2006 and 2016, which is faster than the average for all occupations. Increased focus on and numbers of financial crimes such as embezzlement, bribery, and securities fraud will increase the demand for forensic accountants to detect illegal financial activity by individuals, companies, and organized crime rings. Computer technology has made these crimes easier to commit, and they are on the rise. At the same time, the development of new computer software and electronic surveillance technology has made tracking down financial criminals easier, thus increasing the ease, and likelihood of, discovery. As success rates of investigations grow, demand for forensic accountants will increase.
Need Money to Pay for College?
Every semester, Fastweb helps thousands of students pay for school by matching them to scholarships, grants, and internships, for which they actually qualify. You'll find high value scholarships like VIP Voice's $5,000 Scholarship, and easy to enter scholarships like Niche $2,000 No Essay Scholarship, and internships with companies like Apple, Google, Dreamworks, and even NASA!