Curriculum for Forensic Accounting

Forensic accounting is the means by which a company's books are examined for legal purposes. A forensic accountant must be well versed in reading ledgers, researching funding streams and following the trail of money as it comes and goes. Forensic accountants are called in as experts in legal proceedings and are used to delve into the finances of a company under investigation. Programs are available that teach basic and advanced forensic accounting.

History

Following the 9/11 terrorist attacks in the United States and a number of large corporate scandals in the early 2000s, it was clear that more skills were needed by financial experts to be able to track illegal and fraudulent money transactions. With a grant from the Department of Justice, a team at Western Virginia University established the first guidelines for forensic accounting curriculum. The Technical Working Group for Education in Fraud and Forensic Accounting (TWGE-FFA) was formed and came up with set of voluntary guidelines that provide a basis for educational institutions nationwide to teach financial investigative skills.

Significance

Two major components are recognized as vital to a thorough training program. The legal acumen needed by accounting professionals for court testimony and the investigative abilities required in fraud investigations were named as the two areas that any forensic accounting curriculum must address.

Function

In addition to basic auditing and accounting principles, a forensic accounting curriculum will include Criminology and Ethics, Fraud Investigation Techniques and courses on the law as it pertains to finance. A forensic accounting curriculum should give the student a thorough knowledge of the nature of financial fraud, its many applications and the rules of ethics that govern fiscal matters. Students need to be proficient in fraud detection by understanding the intricacies of misappropriation and falsified documents.

Features

A forensic accounting curriculum is incomplete without training in the most current accounting software and how to use it to detect inconsistencies. Basic Information Technology courses as well as Information Technology Security are important components to any forensic accounting training program. Advanced training curriculum might include global forensic classes, how to prevent fraud through pre-employment screening strategies, money laundering red flags and auditing for internal fraud.

Identification

Look for degree and certificate programs designed specifically for forensic accountants such as the undergraduate degree available at Carlow University and the certificate programs at the University of Charleston. Continuing education also is a vital part of an ongoing forensic accounting curriculum. Courses, seminars and training opportunities are available though nonprofit organizations such as the Association of Certified Fraud Examiners.

Resources

• Carlow University
• Association of Certified Fraud Examiners