Best Online Master's Degrees in Forensic Accounting

Study.com researched top online master's degree programs in forensic accounting at universities across the country. We investigated data points and statistics from the U.S. Department of Education, such as retention and graduation rates as well key factors like entrance exam requirements, online support networks, and preparation for credentials after graduation to help cultivate our final top schools. If you are looking into a flexible online master's program that focuses on forensic accounting, this list is a good place to start!

1. West Virginia University

Tuition	Acceptance Rate	Graduation Rate	Financial Aid %	Placement Services	Career Services	Accepts
$8599	95%	31%	94%	Yes	Yes	AP / NCCRS Credits

West Virginia University, in Morgantown, West Virginia, offers an online Master of Science in Forensic and Fraud Examination that uniquely combines data analytics with MBA courses. The program requires two different residencies, giving students real-life skills; they have the chance to examine a reproduced crime scene to find paper and electronic financial evidence of a crime to pursue an indictment with the prosecutor. They even get to testify as expert witnesses in mock trials. WVU also offers a certificate in Forensic Accounting and Fraud Examination that can be earned concurrently.

2. Carlow University

Tuition	Acceptance Rate	Graduation Rate	Financial Aid %	Placement Services	Career Services	Accepts
$19036	92%	57%	100%	Yes	Yes	AP / ACE / NCCRS Credits

Carlow University, located in Pittsburgh, Pennsylvania, presents an online Master of Science in Forensic Accounting and Fraud Investigation that focuses on white-collar crime, accounting, and auditing practices, as well as fraud prevention and the psychology of fraud investigation. The program doesn't require a separate entrance exam like the GRE or GMAT for the entrance process, which can be a major boon for current professionals. Students complete this program in a cohort setting, helping to create a shared atmosphere for its online students. CU's program is also unique in that it provides the 150 hours that are required to sit for the CPA exam.

3. Stevenson University

Tuition	Acceptance Rate	Graduation Rate	Financial Aid %	Placement Services	Career Services	Accepts
$8040	81%	60%	99%	Yes	Yes	AP / NCCRS Credits

Stevenson University, which is based in Owings Mills, Maryland, offers students an online Master of Science in Forensic Accounting that excels in teaching students the skill set necessary to aid in gauging fraud risk, analyzing data and evidence, and preparing them for future careers in investigating financial crimes. SU offers multiple online programs and caters to its online and distance learning students with virtual events, like Virtual Open Houses, where students can ask the admissions team any questions and chat directly with the university's Student Success Coaches. Stevenson also maintains partnerships with a wide variety of businesses and organizations that provide tuition help and connections for employment.

4. Pfeiffer University

Tuition	Acceptance Rate	Graduation Rate	Financial Aid %	Placement Services	Career Services	Accepts
$12600	64%	44%	99%	Yes	Yes	AP / ACE / NCCRS Credits

Pfeiffer University, in Misenheimer, North Carolina, presents an online Master of Science in Financial Fraud Investigations This program prepares students to test for the Fraud Examiner Certification, CFE, and previously qualified CPAs can sit for the Certified in Financial Forensics credentials after graduation. Pfieffer also makes their application requirements flexible for their distance learning students, permitting them to waive the entrance requirement for a GRE, GMAT or Millers Analogies test if they meet the prerequisites.

To get a more in-depth look at our school ranking methodology, please visit Study.com's ranking methodology page.

Tuition information is based on published tuition and required fees, per data by the National Center for Education Statistics (NCES).

Students interested in criminal investigations, the law, and the justice system would likely enjoy pursuing an online master's in forensic accounting. Individuals hoping to enter this field will need investigative and research skills as well as strong writing ability. Prospective forensic accounting students should have a keen eye for detail, curiosity, basic numeracy skills, and good oral communication, as they may be asked to testify in court to present data and information related to fraud cases. Students who choose to study online will benefit from the flexible schedule that distance learning provides.

How Long Does It Take to Earn an Online Master's in Forensic Accounting?

Forensic accounting online master's degree programs are typically around 30 credit hours and can be completed in 1-2 years. These degrees can be completed 100% online. It is unlikely that a forensic accounting program will require in-person practicum or internship hours, which makes this degree convenient for those working full-time. Factors contributing to degree completion time include a selection of core foundational courses as well as electives or the option to pick a concentration, although this varies from institution to institution.

Online master's degree programs in forensic accounting that are offered entirely by distance learning generally consist of core courses followed by a selection of electives. Some programs may offer concentrations or specializations, or alternatively, their entire curriculum may be required with no choice of additional classes. This depends on the university, and students may choose to attend one that offers more or less choice based on their needs and comfort level. Although not required across all degree programs, students may complete their degree with a capstone or final paper.

Forensic Accounting Foundational Courses

Foundational courses are the classes considered core requirements for an online master's in forensic accounting. These generally include an introduction to the field followed by the legal and analytical underpinnings that will help guide further study. Foundational courses help the learner to understand the subject in context and gain a comprehensive overview of the major points. Since most master's programs in forensic accounting do not require a bachelor's degree in accounting or prior relevant work experience, many students may be coming into the master's with no prior knowledge. Some common courses that help students gain a foundational in forensic accounting include:

• Introduction to forensic accounting
• Fraud data analytics
• Legal aspects of fraud
• Organizational theory and communications

Forensic Accounting Specialist and Elective Courses

Forensic accounting online master's degrees have curricula that vary across universities. While there are concentrations common to some programs such as cyber crime, others may offer a choice of electives rather than a choice of set specializations. Elective classes or concentrations allow students to craft a master's degree that closely aligns with their interests or future career goals. While an online master's degree in forensic accounting will be impressive to prospective employers, for certain positions, expertise in a designated area may help applicants outshine their peers.

Licensure and Certification in Forensic Accounting

Several options for licensure and certification within accounting are available for graduates of online master's degrees in forensic accounting. The most well-known of these is the Certified Public Accountant (CPA) license. The CPA license is granted to accounting professionals. CPA licensing is governed by state accountancy boards, and because of this, requirements for education and applications vary. To become a certified public accountant, candidates must meet educational requirements and pass an exam before fulfilling the state board's requirements, which may include minimum work experience.

Some specialized certifications include:

• Certified Management Accountant (CMA)
• Certification in Risk Management Assurance (CRMA)
• Certified Internal Auditor (CIA)
• Certified Fraud Examiner (CFE)

Online master's in forensic accounting programs have specific requirements that must be met for applicants to be considered for admission. While some programs ask for prior work experience and/or an educational background including classes in accounting, many will take students from unrelated fields. All universities will ask for official transcripts from any undergraduate or graduate level coursework as well as a minimum overall GPA, which is typically at least a 3.0. Although admissions requirements are unique to every university, there are some common elements in the application packets. These include:

• GRE, GMAT, or Miller Analogies Test (MAT) scores
• Personal statement or statement of purpose expressing interest in the program
• Up to three letters of reference from academic and/or professional sources
• CV or resume detailing any relevant work experience

Forensic accounting online master's degree graduates have a variety of options for careers. After graduation, students may take up new roles or progress within their current organization in areas such as fraud analytics, investigation, audit, or accounting information systems. More experienced individuals may qualify for positions in upper management, such as an accounting supervisor who oversees a group of accountants in a public or private setting. Some graduates may need or want to become a certified public accountant (CPA) or gain other industry-specific certifications focusing on various aspects of forensic accounting. Those holding a master's in forensic accounting are poised to work in government, law enforcement, for private accounting firms, or as freelance consultants.

Job Outlook for a Master's in Forensic Accounting

The U.S. Bureau of Labor Statistics (BLS) estimates that employment for accountants and auditors is slated to grow 4% between 2019-2029. While this is about as fast as other jobs across the US, because the field is large, this equates to 61,700 jobs added to the market during that ten-year period. This means that by 2029, there will be around 1,497,900 accountants and auditors employed across the country. The best job prospects are likely for those with an advanced degree and a license and/or certification. Specialized areas such as forensic accounting are projected to grow due to the importance of the field as it relates to government organizations such as homeland security and corporate risk and loss prevention.

How to Become a Forensic Accountant

Forensic accountants investigate and analyze financial information for discrepancies. They also trace the movement of funds to uncover criminal activity. After compiling data from these analyses, they create reports and may contribute findings to cases of litigation. Some forensic accountants may be asked to testify in court cases about the specifics of their findings.

To become a forensic accountant, interested individuals need at least a bachelor's in accounting and may be required to have some professional experience in general accounting. A master's in forensic accounting will help applicants stand out and will give them specialized knowledge that will help them progress in the field. Some employers may ask for certifications, such as the Certified Fraud Examiner (CFE) or the Certified Public Accountant (CPA). A knowledge of specific areas within forensic accounting, such as white collar crime, cyber crime, bankruptcy or securities fraud, could be helpful in the job market.

Forensic accountants, according to PayScale.com, make an average annual salary of $69,202 as of January 2021. This is in line with the BLS estimated median salary of $71,550 for all accountants and auditors as of May 2019.

How to Become a Forensic Auditor

Forensic auditors are responsible for conducting systematic reviews of financial systems. Auditors look at bank statements, record books, and transaction logs through a formal review process to identify any mismanagement, errors, or potential fraud. They may also check that a company or organization is compliant with applicable financial regulations or laws.

Students wishing to seek employment as a forensic auditor need a minimum of a bachelor's degree in accounting. Education beyond the bachelor's, such as a master's in forensic accounting, will likely help increase job prospects and/or salary. Some positions may require additional certification. Some common certifications held by forensic auditors include the Certified Public Accountant (CPA), Certified Fraud Examiner (CFE), or Certified Internal Auditor (CIA). Accountants who do not have a master's degree in forensic accounting might be interested in undertaking one of the forensic auditing courses or certification programs offered by various colleges and universities.

Based on data from February 2021 on PayScale.com, forensic auditors make an average annual income of 58,406. Salaries are likely to vary by industry of employment, years of experience, and education level.

Membership in professional organizations give forensic accounting graduates the chance to network, find job opportunities, learn more about the field, and access training and education. In today's job market, networking is extremely important because who you know could be your ticket to a coveted position. These organizations are a place for forensic accounting professionals to come together in one place and expand their networks both nationally and internationally. Generally, membership is gained by submitting an application and annual dues. Memberships are typically offered for both students and those already working in the field.

Benefits vary by organization but members usually receive fee discounts to conferences and for continuing education and training, are granted access to magazines, journals, or other electronic or print materials relevant to the field, and obtain opportunities to publish research or articles. The following organizations welcome forensic accounting professional:

• Association of Certified Fraud Examiners (ACFE)
• National Association of Forensic Accountants (NAFA)
• International Institute of Certified Forensic Accountants (IICFA)
• Institute of Certified Forensic Accountants (ICFA)

Individuals interested in a master's degree in forensic accounting may be surprised to see that many programs do not require a bachelor's in or related to accounting. While there may be some prerequisite courses needed for entry into some programs, the majority take students from a variety of backgrounds. Although master's in forensic accounting programs draw in career changers, common undergraduate degrees might include accounting, economics, business, criminology, information technology, or mathematics. A solid grounding in the basics of accounting may be beneficial to have before undertaking master's level study.

A Doctor of Philosophy (PhD) in accounting is the next step for accounting graduates desiring more education and training. PhD programs in accounting are typically done on campus. They aim to prepare students for positions as university professors or researchers. Courses seek to expose students to the theory of accounting as well as current topics in the field and how they affect practice. PhD programs in accounting can generally be completed in four to five years of study, which include a dissertation.

Grants, financial aid, and scholarships are a few ways students can finance their online master's degree in forensic accounting. Grants do not need to be repaid by students and are awarded based on financial need. Only students who can demonstrate significant need will be eligible. On the other hand, U.S. federal financial aid is available to all students. However, it must be repaid incrementally starting six months after graduation. Students interested in availing themselves of federal student loans must fill out an online application called the Free Application for Federal Student Aid (FAFSA).

The Association of Certified Fraud Examiners (ACFE) offers the Ritchie-Jennings Memorial Scholarship Program every year to students enrolled in undergraduate or graduate programs studying forensic accounting. Scholarships range in value from $10,000 to $1,000 and winners also receive a student membership to ACFE. Award money is paid directly to winning students' universities.