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Considering a master's in forensic accounting? Use this guide to learn about the program and the potential career paths available to graduates.
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In 2023, about $3.1 trillion in illicit funds circulated globally. The rapid growth of financial crime is putting forensic accounting specialists in demand.
A master's in forensic accounting teaches you to apply accounting practices to investigate financial crimes. Forensic accountants help organizations identify and prevent fraud and help protect the integrity of the financial system.
Explore the top master's in forensic accounting programs, what to expect, and the employment outlook after graduation.
Popular Online Accounting Master's Programs
Learn about start dates, transferring credits, availability of financial aid, and more by contacting the universities below.
Top Master's in Forensic Accounting Programs
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#1 Best Master’s in Forensic Accounting
West Virginia University
Morgantown, WV
4 years
Online + Campus
Located in Morgantown, WVU is the flagship school of West Virginia's state university system. The institution offers a selection of online graduate degrees in various fields.
MS in Forensic and Fraud Examination
WVU works with the National Institute of Justice to develop fraud and forensic accounting programs. The business school administers the MS in forensic and fraud examination, which students can complete online in as few as 12 months.
The 30-credit curriculum teaches enrollees to detect fraud and other financial crimes. The asynchronous program also provides preparation for certification through the Association of Certified Fraud Examiners (ACFE). Coursework explores topics such as fraud data analysis, fraud investigation, and financial statements analysis.
Applying to WVU
Admission requires a bachelor's degree from an accredited school alongside prerequisite coursework or two years of related professional experience. Prospective students must submit transcripts, a statement of purpose, and a resume.
Program at a Glance
School Type: Public
Accreditation: Higher Learning Commission (HLC); Association to Advance Collegiate Schools of Business (AACSB)
Tuition: $820/credit
Required Credits: 30 credits
Program Length: 12 months
Delivery Format: 100% online (asynchronous)
Average Undergrad Tuition
In-state
$8,976
Out-of-state
$25,320
Average Graduate Tuition
In-state
$10,134
Out-of-state
$26,154
Retention Rate
79%
Acceptance Rate
84%
Students Enrolled
26,839
Institution Type
Public
Percent Online Enrollment
34%
Percentage of all students who are enrolled online.
Accreditation
Yes
Higher Learning Commission
#2 Best Master’s in Forensic Accounting
Florida Institute of Technology
Melbourne, FL
4 years
Online + Campus
Florida Institute of Technology is a private, research-intensive college located on Florida's Space Coast. Florida Tech develops programs with an emphasis on science, technology, engineering, and math.
MS in Accounting and Financial Forensics
Florida Tech's MS in accounting and financial forensics is open to students from any academic background. Students complete the 30-credit degree on campus in Melbourne. The program provides upper-level training for certified public accountant licensure in Florida.
The degree's core curriculum includes classes in advanced internal auditing, fraud examination, and tax and financial accounting research. Case studies and projects ensure students receive extensive qualitative and quantitative analysis training.
Degree-seekers take several elective courses like financial management, portfolio analysis, and organizational behavior. Enrollees can complete internships and explore research opportunities to round out their training.
Applying to Florida Tech
Admission requires a bachelor's degree, transcripts, and letters of recommendation. While optional, GMAT scores strengthen applications.
Program at a Glance
School Type: Private
Accreditation: Southern Association of Colleges and Schools Commission on Colleges (SACSCOC)
Tuition: $896/credit
Required Credits: 30 credits
Delivery Format: On campus
Average Undergrad Tuition
In-state
$41,720
Out-of-state
$41,720
Average Graduate Tuition
In-state
$22,338
Out-of-state
$22,338
Retention Rate
79%
Acceptance Rate
66%
Students Enrolled
6,022
Institution Type
Private
Percent Online Enrollment
10%
Percentage of all students who are enrolled online.
Accreditation
Yes
Southern Association of Colleges and Schools Commission on Colleges
#3 Best Master’s in Forensic Accounting
SUNY College at Old Westbury
Old Westbury, NY
4 years
Online + Campus
At SUNY Old Westbury, over 4,000 students pursue undergraduate and graduate degrees. The school boasts a 14-to-1 student-to-faculty ratio, which encourages personalized learning.
MS in Forensic Accounting
The 30-credit MS in forensic accounting provides technical training in forensic accounting and fraud examination. By completing the program, students earn the 150 credit hours required for certified public accountant licensure in New York. Enrollees also receive preparation to sit for the ACFE exam.
Coursework explores topics such as fraudulent financial reporting; computer forensics; and forensic interviewing, fraud, and the law. Old Westbury's justice for fraud victims project gives MS students real-world experience assisting financial fraud victims.
The culminating capstone requires a supervised research project. Full-time students complete the degree in one calendar year over three semesters. The program offers evening classes and part-time enrollment options.
Applying to Old Westbury
Old Wetsbury requires applicants to hold a BA, BS, or bachelor's of business administration from a regionally accredited institution. Prospective students also submit GMAT scores, two letters of recommendation, and an essay. Non-accounting majors may need to complete prerequisite courses.
Program at a Glance
School Type: Public
Accreditation: Middle States Commission on Higher Education (MSCHE)
Tuition: $462/credit (in state); $944/credit (out of state)
Required Credits: 30 credits
Program Length: 12 months
Delivery Format: On campus
Average Undergrad Tuition
In-state
$7,070
Out-of-state
$16,980
Average Graduate Tuition
In-state
$11,310
Out-of-state
$23,100
Retention Rate
76%
Acceptance Rate
78%
Students Enrolled
5,126
Institution Type
Public
Percent Online Enrollment
16%
Percentage of all students who are enrolled online.
Accreditation
Yes
Middle States Commission on Higher Education
#4 Best Master’s in Forensic Accounting
Carlow University
Pittsburgh, PA
4 years
Online + Campus
Carlow University is a private college in Pittsburgh, Pennsylvania. The school offers over 90 undergraduate and graduate programs, many of them available online.
MS in Forensic Accounting and Fraud Investigation
Students can complete Carlow's MS in forensic accounting and fraud investigation in an accelerated 14-month timeframe. The 30-credit program offers a fully online curriculum. By completing the degree, students earn the 150 credit hours required for certified public accountant licensure. The program also offers preparation for the ACFE exam.
Enrollees join a cohort and take classes like white-collar crime and anti-money laundering. Degree-seekers can take two additional courses to complete the program's cyberthreat research and analytics track.
Applying to Carlow
Admission requires a bachelor's degree from an accredited institution with a minimum 3.0 GPA. Applicants submit a personal essay, resume, and transcripts.
Program at a Glance
School Type: Private
Accreditation: Middle States Commission on Higher Education (MSCHE); International Accreditation Council for Business Education (IACBE)
Tuition: $800/credit
Required Credits: 30 credits
Program Length: 14 months
Delivery Format: 100% online (asynchronous)
Average Undergrad Tuition
In-state
$29,652
Out-of-state
$29,652
Average Graduate Tuition
In-state
$18,766
Out-of-state
$18,766
Retention Rate
78%
Acceptance Rate
92%
Students Enrolled
2,022
Institution Type
Private
Percent Online Enrollment
56%
Percentage of all students who are enrolled online.
Accreditation
Yes
Middle States Commission on Higher Education
#5 Best Master’s in Forensic Accounting
Stevenson University
Stevenson, MD
4 years
Online + Campus
Founded in 1947, Stevenson University is a private college in Owings Mills, Maryland. The school offers 27 online programs designed for working professionals.
MS in Forensic Accounting
Stevenson's MS in forensic accounting enrolls experienced professionals and recent college grads with relevant accounting backgrounds. The faculty bring their forensic accounting career experience to the classroom, teaching courses like business valuation, litigation theory and practice, and investigative techniques and interviewing.
Enrollees also strengthen their skills in research and writing about forensics and complete a capstone. The school offers certificates in fields like forensic investigation and cybersecurity and digital forensics for students interested in expanding their training and expertise.
Applying to Stevenson
Applicants need a bachelor's degree from a regionally accredited college with a minimum 3.0 GPA. If the degree is not in accounting, the applicant should demonstrate relevant work experience or completion of accounting coursework. Prospective learners also submit a personal statement.
Program at a Glance
School Type: Private
Accreditation: Middle States Commission on Higher Education (MSCHE)
Tuition: $695/credit
Required Credits: 36 credits
Delivery Format: 100% online (asynchronous)
Average Undergrad Tuition
In-state
$34,528
Out-of-state
$34,528
Average Graduate Tuition
In-state
$8,040
Out-of-state
$8,040
Retention Rate
82%
Acceptance Rate
81%
Students Enrolled
3,579
Institution Type
Private
Percent Online Enrollment
55%
Percentage of all students who are enrolled online.
Accreditation
Yes
Middle States Commission on Higher Education
Our Ranking Methodology
Accounting.com ranks the best accounting degrees using reputable sources such as the U.S. Department of Education. We build our rankings with four main metrics in mind: academics, cost, reputation, and program availability. We also consider subfactors like retention rate, federal aid amounts, and return on investment to help you find the right program for you.
This list has not been updated for 2024. Learn more about our process by visiting our school rankings methodology page.
Why Get a Forensic Accounting Master's Degree?
Expanded career options
Along with forensic accountant positions, a master's in forensic accounting can help you pursue other advanced accounting-related roles like financial examiners, auditors, and fraud investigators. Master's programs can also help you develop leadership skills to take on supervisory business and financial roles.
Better job security and earnings
According to the Bureau of Labor Statistics (BLS), as education increases, so do weekly earnings and unemployment rates. Master's graduates earned nearly $250 more in median weekly earnings than bachelor's graduates.
Certification opportunities
A master's in forensic accounting can help you qualify for professional certifications, such as certified internal auditor or certified fraud examiner credentials. Certifications may improve your job security and opportunities.
What to Expect From a Forensic Accounting Master's Degree
A master's in forensic accounting combines accounting, investigation, and auditing coursework. The program prepares you to identify, investigate, and protect organizations from financial crimes, including tax fraud and money laundering.
While program length and credit loads vary, a master's in forensic accounting typically features 30-45 credits and takes two years to complete. Most programs at this level also help you meet the educational requirements for various professional certifications.
The credits you earn in a master's in forensic accounting program can usually transfer between schools and programs, especially those with programmatic accreditation. However, if you pursue an accounting certification, your state accountancy board must approve your education.
There are various master's in forensic accounting degree types and delivery formats available. The following are some of the options you might see.
Possible degree types:
Master of Science: An MS in forensic accounting focuses on the technical skills and routines required in the accounting profession.
Master of Accountancy: Like an MS, an MAcc emphasizes practical applications across various accounting disciplines. Programs leading to this degree may also focus more on accounting certifications.
Master of Business Administration: An MBA in accounting emphasizes management and business applications of accounting, preparing students for leadership and business environments.
Master of Arts: An MA in accounting may feature a greater theoretical and interdisciplinary approach to the discipline than other programs.
Possible delivery formats:
Online: Online programs may feature asynchronous (anytime) or synchronous (scheduled) classes. Asynchronous classes are more flexible than synchronous classes but may feature less structure and interaction.
In-person: In-person classes are held at scheduled times on campus, which gives you a traditional classroom experience but less schedule flexibility.
Part-time: Some programs offer part-time schedules to accommodate working students and those with busy schedules.
Accelerated: Accelerated programs may look like a one-year master's or a 5-year bachelor's-to-master's accounting program to help you graduate quickly. These programs can feature heavier course loads or more accommodating transfer credits.
You may also see program or concentration names besides forensic accounting, such as financial forensics or fraud examination. While these programs typically have the same focus, they may offer different courses or stand out more to certain employers.
Should You Get a Forensic Accounting Master's or a General Accounting Master's?
There are many similarities between a general accounting master's program and a specialized master's in forensic accounting, making choosing between them difficult. While the differences in the programs may be subtle, they might help you decide.
Comparing Master's in Forensic Accounting and Accounting
Key Factor
Master's in Forensic Accounting
Master's in Accounting
Program Length
12-24 months
12-24 months
Course Load
30-45 credits
30-45 credits
Admission Requirements
Bachelor's degree (criminal justice-related disciplines usually welcomed)
Bachelor's degree (accounting may be required)
Student Demographics
Students interested in the investigation of financial crimes
Students interested in accounting careers in general or those who do not have a specific interest
Types of Classes
Fraud examination, digital forensics, advanced auditing
Federal taxation, financial accounting for managers, financial statement analysis
Career Goals
Aiming for forensic accountant, auditor, or fraud examination careers
Aiming for traditional accounting roles or professional certification, such as the certified public accountant (CPA) credential
If you want to study and pursue a career in forensic accounting or a related field, you may do well to choose a master's in forensic accounting. If you don't have your interests or career goals narrowed down, a general master's in accounting may be the better choice.
Admissions Process
The admissions process varies by program, but you usually need a bachelor's degree at minimum. Some schools could require a bachelor's degree in accounting or a related discipline. You might also need a minimum GPA, such as a 2.5-3.0 GPA.
Additional requirements may include:
Letters of recommendation
Resume (relevant professional experience may be required or preferred)
A master's in forensic accounting typically features core courses focusing on accounting fundamentals, electives that complement your studies and interests, and project-based capstone courses that put your learning into practice.
In your program, you could take some or all of the following courses:
Digital Forensics
In this course, you learn the tools and techniques used in computer forensics investigations. You can learn how to acquire, analyze, and report any issues. Some of the tools covered may include various network traffic tools and digital security software.
Fraud Examination
This course introduces you to major types of financial fraud, the common issues in this field, and the typical approaches to fraud examinations. You may learn how to analyze financial statements, spot the misappropriation of cash and assets, and what risks and responsibilities fraud examiners face.
Cost Management
In this course, you explore management accounting tools and techniques, including cost behavior and allocation. You can also learn to analyze organizational risks, opportunities, and decisions using accounting and financial information. Your studies could include analyzing cost and profitability to develop short- and long-term organizational strategies.
IT Auditing
This course explores the auditing tools and techniques in computer-based accounting systems and software. You may learn how these programs protect against fraud and what shortcomings or vulnerabilities they may have. You could also explore how these systems can be altered or tampered with or how an organization's IT policies can contribute to fraud.
How Much Do Forensic Accounting Master's Programs Cost?
Tuition prices depend on many factors, such as school type and prestige, program delivery method, and your location relative to the school. According to the National Center for Education Statistics, the average annual graduate tuition for the 2021-22 academic year was $20,513. Specifically, the average tuition was $12,596 in public schools and $28,017 in private schools.
In addition to tuition, you can incur other expenses like travel, transportation, books and materials. Online programs may reduce or eliminate some expenses, but you could incur additional online courses or learning fees.
Regardless of your educational costs, you should apply for federal financial aid. Completing the FAFSA form may qualify for federal loans, grants, and various scholarships from schools and third-party organizations.
For more information on these options, check out the links below.
Many schools have introduced online programs to accommodate students with busy schedules. An online master's in forensic accounting offers more flexible and convenient class times than on-campus programs.
The forensic accounting discipline is conducive to online learning, as many courses investigate computer-based accounting technologies and techniques. When choosing an online master's in forensic accounting, consider the following:
Earning a master's in forensic accounting can open several career opportunities. This degree allows you to pursue various accounting, finance, and business careers. According to the BLS, the median annual wage for business and financial occupations was $79,050 in May 2023.
The list below details some careers you can pursue after completing your degree.
External auditors review an organization's finances and financial records to uncover mismanagement, fraud, and risks. These professionals usually work for a third-party organization and inform the authorities or financial regulators if they find anything illegal or unethical in their review.
Financial analysts review an organization's finances to analyze risk and opportunity. They may review market data, financial trends, and operational costs to help organizations improve profits and reduce expenses. Financial analysts may use forensic accounting skills when evaluating organizations, performances, and financial risks.
Financial examiners ensure financial organizations comply with financial laws and regulations by reviewing their financial records and practices. They may also help develop a financial organization’s policies and guidelines. These professionals often rely on forensic accounting investigation skills and knowledge of financial laws and regulations.
Choosing your ideal accounting program takes a great deal of research and self-reflection. Consider the following factors as you sort through your options:
Accreditation: While institutional accreditation should be a minimum requirement, programmatic accreditation assures program quality and recognition from employers and professional organizations.
Delivery Method: Choose between flexible online programs, interactive on-campus programs, or hybrid programs that combine elements of both.
School Location: Location can affect your delivery method options, your travel costs, your scheduling options, and even your tuition costs.
Curriculum: Ensure your program offers the courses that interest you and lead to the careers and credentials you want most.
Cost and Aid: Along with program tuition and other costs, look into what type of financial aid packages you might qualify for.
Support Network: Research the various support services, such as career and academic support. Ask about an alum network or any mentorship opportunities that may be available.
Common Questions About Master's in Forensic Accounting
Which degree is best for forensic accounting?
An MS degree in forensic accounting or an MAcc degree in forensic accounting may be the best degree for a career in forensic accounting. These degrees can help you qualify for employment and useful certifications in the field.
What is a master's in forensic accounting?
A master's in forensic accounting is a graduate program that focuses on financial fraud detection and investigation. The program explores how to use accounting and financial information in legal proceedings.
What is the highest salary of a forensic accountant?
The highest salary for a forensic accountant depends on the role and employer, but financial managers made the highest median annual wage among all accounting-related professions, earning $156,100 in May 2023, according to the BLS.
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