To work as a forensic accountant, a candidate must have a bachelor’s degree in accounting and special certification in forensic accounting or fraud examination. The more credentials a person has, the more money he or she can charge for services and the more credibility they will have in a court of law. Because forensic accountants examine accounting practices in order to testify in court or assist in the development of a legal case, many pursue as many certifications as possible in order to establish themselves as highly credible authorities.
Forensic accounting is a branch of accounting that examines accounting practices and records to determine whether or not illegal activities such as fraud have taken place. When a company is audited, when law enforcement suspects someone of illegal activity, or when a lawyer needs an expert witness to testify in court about an accounting-related matter, forensic accountants can be called in.
Receiving an accounting degree from a college that offers such degrees and passing the certified public accountant (CPA) exam are the first steps toward becoming a forensic accountant. After becoming a CPA, a person can work in accounting, which can provide valuable real-world experience, but becoming a forensic accountant usually necessitates additional coursework.
One option is to enroll in classes leading to a forensic accounting degree. It’s also possible to become a Certified Fraud Examiner (CFE), a person who has undergone specialized training to detect signs of fraud and illegal activity. Several colleges provide fraud certification and forensic accounting training, and some even offer Master’s degrees in forensic accounting for those who want to advance their careers.
It is beneficial to join a professional organization of forensic accountants after receiving the necessary training. Belonging to a professional organization boosts one’s credibility and gives them access to workshops, publications, and other resources that can help them stay current in their field. Many forensic accounts are also members of the Association of Certified Fraud Examiners, a global organization that promotes fraud examination excellence and integrity.
Even if you have a degree, having real-world experience is beneficial. Working under the supervision of an experienced forensic accountant is a good idea in the beginning because it will provide you with a lot of training and real-world experience with fraudulent accounting practices. It’s also beneficial to practice as a regular accountant because it allows a forensic accountant to keep up with accounting skills and keep track of changes in accounting legislation and policy.