How to Become a Forensic Accountant
Do you have an inquisitive mind and want to conduct investigations but without dealing with gruesome crime scenes? Then a job as a forensic accountant might be right for you. This rapidly growing career field is no ordinary desk job, but more like the CSI of accounting. If you want to know how to become a forensic accountant, we have all the answers you need.
Forensic accountants uncover and analyze evidence of financial crimes in front of a computer or file cabinet instead of at police scenes or in labs. As a forensic accountant, you might help the FBI track down criminals, or aid companies in discovering internal corruption or theft. So, what skills, education and training do you need to succeed in this career?
What Is Forensic Accounting?
Forensic accounting, also called financial forensics or forensic auditing, focuses on investigating financial disputes and potential cases of financial crimes. These could be:
- bribery
- money laundering
- identity theft
- securities fraud
- tax fraud
- corruption
- hidden assets in child support and alimony cases
- insurance fraud
- contract disputes
- trademark and patent infringements
- breaches of non-compete agreements
What Does a Forensic Accountant Do?
Forensic accountants typically work for government agencies, such as the IRS or the FBI, law enforcement, company financial departments, or accounting firms. They share some, but not all, job responsibilities that typical accountants also have; for example, they don’t typically prepare tax returns.
These are some examples of common responsibilities you will take on if you become a forensic accountant:
- reviewing public records
- conducting background investigations
- analyzing financial documents
- calculating the value of assets or economic damages
- interviewing parties involved
- writing reports
- helping victims of financial crimes recover their assets
- helping victims with civil actions or criminal prosecution
- testifying in court by presenting investigation results and evidence
How to Become a Forensic Accountant : General Accounting Requirements
The first step in a forensic accounting career path is to get a bachelor’s degree in accounting. While it is not required, choosing a forensic accounting education component to your studies will give you an advantage on the job market. It will also teach you the skills you need and provide other details on how to become a forensic accountant. Classes in criminal justice or law enforcement can also help you on the job market, especially if you want to work for a government agency.
Some states also require you to hold a license to work as an accountant. You can find out more about regional requirements on the National Association of the State Boards of Accountancy’s website. After you have your degree, consider becoming a certified public accountant (CPA) as well. While you do not have to be a certified to work in accounting, many jobs in specialized fields such as forensic accounting do require it. You can learn more details in our article on how to become an accountant.
How to Become a Forensic Accountant : Specialized Requirements
Forensic accountants need to be:
- meticulous
- good with numbers
- curious
- attentive
- organized
You should also be skilled at utilizing different computer programs, including accounting software. If you want to specialize in computer forensic accounting you will need also need excellent computer skills, including a basic understanding of computer programming, databases, and network systems.
Many forensic accountants apply for Certified Fraud Examiner (CFE) designation from the Association of Certified Fraud Examiners (ACFE). This shows employers that you have expertise in the field of forensic accounting. A CFE certification can help you on the job market and will be required for some positions.
To get a CFE certification you will need to pass an exam which is divided into four parts. You will also need at least two years of related work experience and 50 educational and training points. You can learn more about how to acquire these points and other forensic accountant requirements on ACFE’S website.
What is the Average Forensic Accountant Salary?
The average forensic accountant salary nationwide is $72,378. Use Monster’s salary tools to find out how much the median salary is in your area, as well as to compare salaries for related jobs. Bear in mind that becoming a certified fraud examiner can raise your income, since accountants with this certification earn 34% more on average.
How to Find Forensic Accountant Jobs
How do you become a forensic accountant after completing the required education? Once you have an accounting degree and the licenses and certifications you need, the next step is to create a well-written job application. Use Monster’s sample of an accountant resume as a starting point. Our comprehensive article on how to write a cover letter is full of tips and writing samples to help you write an application that will stand out.
When your application is ready, you can explore accounting jobs right here on Monster. Search for jobs nationwide or by region, including these most popular states for accounting jobs:
You can also search for jobs by city. These are the top cities for accounting jobs:
Find Jobs as a Forensic Accountant on Monster
Now that you’ve learned how to become a forensic accountant, investigate job opportunities on Monster. Start by creating a profile. After uploading your resume and adding your information, use your profile to apply directly to jobs. By making it visible to recruiters, you can also help them find you first when there is a new job opening.