Forensic Accountants
Career summary
Forensic accountants assemble, analyze, and check the accuracy of financial information. They conduct audits, looking for signs of fraud.#check 2/23/15 lh
Forensic accountants work in a variety of settings including:
- Police departments
- Private accounting firms
- IRS
- FBI
- CIA
Forensic accounting is a specialty within the accounting field. Forensic accountants examine financial records and statements to determine if crimes such as fraud have occurred.
Forensic accountants meet with government representatives, attorneys, or clients to gather information about a case. They do research and create a plan for their investigation. They may search bank statements, credit statements, journals, ledgers, and databases. They also read e-mails and memos.
After gathering records, forensic accountants often interview people involved in a case. Forensic accountants may also trace the assets of a company and summarize transactions.
They prepare reports detailing their investigation.
Sometimes forensic accountants work as consultants. In these cases, the information has been gathered for them and they review it. They may suggest additional information to gather or questions to ask witnesses. Forensic accountants may also review reports and state whether they are accurate and support the case.
Some forensic accountants specialize in specific industries, such as insurance or banking.
Related careers
This career is part of the Finance cluster of careers.
Related careers include:
- Accountants and Auditors
- Compliance Officers and Inspectors
- Detectives and Investigators
- Financial Examiners
- Insurance Adjusters and Examiners
- Tax Examiners
Military careers
Education and training
Educational programs
The programs of study listed below will help you prepare for the occupation or career cluster you are exploring.
Programs of study directly related to this occupation
Other programs of study to consider
Training
To work as a forensic accountant, you typically need to:
- have a high school diploma or equivalent;
- earn a bachelor's degree in accounting; and
- get 12 months on-the-job training with a forensic accountant; or
- earn a graduate degree in forensic accounting.
Education after high school
Forensic accountants usually have at least a bachelor's degree in accounting. In your four years of study, you take one year of accounting courses and one year of general business courses. You also take two years of liberal arts courses. These programs are available at many colleges and universities. A bachelor's degree in accounting prepares you for entry-level accounting jobs. If you want to work as a forensic accountant, you must get at least 12 months on-the-job training with a forensic accountant.
Many universities offer a master's degree in forensic accounting or in business administration with a concentration in forensic accounting. As a graduate student you take courses in sociology, psychology, and law enforcement. You also take courses in criminal and business law, business and finance, information systems, and communication.
Work experience
While in college, you can gain experience through summer programs or part-time internships.
On-the-job training
After college, you work on routine financial tasks and are supervised by experienced forensic accountants. As you gain experience, you are given more responsibility. In general, a beginning forensic accountant receives 12 months of on-the-job training.
Military training
Some branches of the military train people to be finance and accounting managers. Training lasts two to 16 weeks. Further training occurs on the job and through advanced courses. You must have a degree in accounting, finance, or a related field to enter this military occupation.
Helpful high school courses
In high school, take classes that prepare you for college. A college preparatory curriculum may be different from your state's graduation requirements .
You should also consider taking some advanced courses in high school. This includes Advanced Placement (AP) and International Baccalaureate (IB) courses if they are available in your school. If you do well in these courses, you may receive college credit for them. Advanced courses can also strengthen your college application.
Helpful electives to take in high school that prepare you for this career include:
- Accounting
- Computer Applications
- Economics
- Entrepreneurship
- Introduction to Business
The courses listed above are meant to help you create your high school plan. If you have not already done so, talk to a school counselor or parent about the courses you are considering taking.
You should also check with a teacher or counselor to see if work-based learning opportunities are available in your school and community. These might include field trips, job shadowing, internships, and actual work experience. The goal of these activities is to help you connect your school experiences with real-life work.
Join some groups, try some hobbies, or volunteer with an organization that interests you. By participating in activities you can have fun, make new friends, and learn about yourself. Maybe one of them will help direct you to a future career. Here are examples of activities and groups that may be available in your high school or community.
Things to know
- Forensic accountants need good analytical and math skills. Strong accounting skills and legal knowledge are also important.
- Forensic accountants are also called fraud investigators, investigative accountants, forensic auditors, or fraud auditors.
- Accountants need a license to use the term CPA (certified public accountant). Licensing requirements vary by state. Contact your state Board of Accountancy for more information about local licensing requirements.
- Forensic accountants may use special accounting software. They also must know the rules and regulations for their area of accounting. Both the rules and the software change frequently. Accountants must regularly take training to keep their skills up to date.
- Employers prefer to hire accountants who are familiar with computers and accounting applications. They also prefer people who work well with others. Many employers emphasize communication and computer skills. Being a certified public accountant (CPA) is an advantage.
- Forensic accountants must be discreet when conducting their investigations. This is because the reputations of individuals and companies are at stake.
- The types of crimes forensic accountants investigate are classified as "crimes against property."
- Unlike other accountants, when forensic accountants conduct audits they look for signs of fraud.
Licensing/certification
Certified public accountants must be licensed by the Washington State Board of Accountancy. General licensing requirements are:
- being of good character (no history of dishonesty or felonious acts);
- having at least 150-semester hour credits of college education with 24-semester credit hours (36-quarter hours) in accounting subjects (with 15 credits at the upper or graduate level) and 24-semester credit hours in business administration subjects;
- a bachelor's or graduate degree from an accredited US college or university recognized by the Washington State Board of Accountancy;
- passing a CPA examination;
- passing an ethics examination; and
- 120 hours of continuing education for renewal.
A public practice license requires one year (2,000 hours) of public, private, or governmental accounting experience.
To be a certified public accountant (CPA), accountants must be licensed by the State of Washington. There is an initial application fee. The examination administrative fees depend on how many and which sections of the exam are taken. In addition, each of the four examination sections has a fee. The Washington State Board of Accountancy contracts with CPA Exam Services (CPAES) to process exam applications.
Both the certification renewal fee and the public practice license renewal fee are due every three years. Completion of continuing professional education courses is also required. Workers may need to pay for these classes, although sometimes they are covered by the employer.
For information on additional licensing requirements, contact:
Washington State Board of Accountancy
PO Box 9131
Olympia, WA 98507-9131
360.753.2586
#4/3/12 cj. Links okay, couldn't find any mention of application fee so made generic. Lh 4/3/13. Licensing information okay, 3/12/14 cj. repaired link to CPA board. 3/20/17 lh. Licesning section ok 4/2/18 cj.
There are a couple of organizations that provide optional certification for forensic accountants.
For more information about certification, visit:
Association of Certified Fraud Examiners (ACFE)
Association of Certified Fraud Specialists (ACFS)
Other resources
1670 F East Cheyenne Mtn Blvd
Colorado Springs, CO 80906
American Academy of Forensic Sciences
410 North 21st Street
Colorado Springs, CO 80904
719.636.1100
American Accounting Association
9009 Town Center Parkway
Lakewood Ranch, FL 34202
941.921.7747
American Institute of Certified Public Accountants career information
2208 Mount Vernon Avenue
Alexandria, VA 22301
800.242.7211
703.684.6931
National Association of Forensic Accountants
10001 West Oakland Park Boulevard, Suite 301
Sunrise, FL 33351
800.523.3680
National Society of Accountants
1330 Braddock Place, Suite 540
Alexandria, VA 22314
800.966.6679
703.549.6400
References
Career cluster
Career path
- Conventional (Business Operations)
O*Net job zone
Job Zone 4 - Considerable preparation needed. A minimum of two to four years of work-related skill, knowledge, or experience is needed for these occupations.
DOT occupation
Strong Interest Inventory
- Accountant
COPSystem
- Business Professional