Perhaps you’ve seen those companies that are suddenly in the spotlight, revealed to have been making fraudulent moves to bilk hundreds or thousands out of millions of dollars. Students enrolled in a Forensic Accounting MBA program will study how to become just like the people that often reveal the true machinations of these large corporations. Students of this field will learn to detect and prevent fraudulent financial statements and study the legal ramifications of fraudulent activity, investigations involving computer usage, interview techniques, as well as other career related courses.
What does a Forensic Accountant do?
Forensic accountants investigate what most people know by the term white collar crime, including crimes like embezzlement, money laundering, bankruptcies, and more. Their jobs are to know how to look for, identify, and prevent wrongdoing inside companies. A forensic accounting not only knows the ins and outs of accounting, auditing, tax and consulting, and financing, but is also familiar with investigation processes and laws. They often times work in close contact with both law enforcement and legal counsel and appear as expert witnesses during trials.
How do you know if this is the right path for you?
A career in forensic accounting is best suited to anyone with a financial or accounting background, who not only enjoys numbers, but who also feels a compulsion to find wrongs and right them.
Students in a Forensic Accounting MBA program share certain similarities, including:
- A penchant for probing data and/or information
- An enjoyment of identifying objects, conduct, and events
- A taste for updating and using pertinent knowledge
- A knack for establishing and maintaining interpersonal relationships
- A liking for obtaining information
How to gain admission into a Forensic Accounting MBA program
Schools will look at several areas when you apply for a spot in their Forensic Accounting MBA program, including:
- Possession of an undergraduate degree. Ideal degrees may be in finance, business administration, international business, or certified public accounting, but they are not required
- Work experience
- Academic transcripts
- Letters of recommendation or references from previous teachers or employers
- Personal interviews
Schools that offer Forensic Accounting MBA programs are generally still only available in small numbers, with most programs being offered as online courses in the U.S. A sampling of these programs is:
- Southern New Hampshire University Online
- University of South Florida – St. Petersburg
- Arizona State University – W.P. Carey School of Business
- Jones International University – Online
The job outlook for those with a Forensic Accounting MBA
This field of work is predicted to continue to flourish through 2018, by a healthy 22%, faster than is normal for other fields of employment. This is mainly due to the fact the continued increase of company and employee crimes, including crimes of embezzlement, fraud, theft, money laundering. Jobs remain in demand, also, based on the fact that these crimes are receiving much more interest and visibility in the last decade, beginning with the revelation that the 911 terrorists used the banking systems to filter money. And, as more and more companies become increasingly visible and as the economy struggles to regain its footing, more and more precautions are being taken to make certain business dealings remain without suspicion.
A graduate of a Forensic Accounting MBA program can looking forward to career paths that make take them into large internationally run corporations, consulting, teaching, and even into job paths like the FBI.
Most students who have successfully completed their forensic accounting MBA program can look forward to earning anywhere from $125,000 to $150,000 annually, with final numbers being somewhat dependent upon location and employer. In larger metropolitan areas, you are going to most always make considerably more than you would working in a more urban location.