St.
Thomas University
Forensic Accounting Programs
What is forensic accounting?
Forensic accounting involves the CPA in the legal process as either an investigator or as a provider of specialized skills within accounting and related areas to collect, analyze, and evaluate evidential matter and to interpret and communicate findings. This may or may not culminate in the CPA serving as an expert witness in civil and criminal actions.
Some typical areas of involvement include:
Why forensic accounting?
Forensic accounting is the fastest growing area of accounting today. Forensic accountants work in most major accounting firms, in private businesses (such as BellSouth and Target), insurance companies, banks, and in all branches of government (from the FBI and CIA to the offices of state and major local authorities). They are needed for due diligence in mergers and acquisitions, in tax investigations, economic crime investigations, all kinds of civil litigation support, specialized audits, specialized services such as valuations, insurance claims, and even in terrorist investigations.
U.S. News and World Report labeled forensic accounting as “one of the 20 careers to count on” in 2002. In 2003, Accounting Today found that 60% of the top 100 accounting firms were expanding their forensic accounting practices. According to USA Today, top accounting firms are increasing revenues (and staffing) in forensic accounting by 20% to 50% during 2003.
St. Thomas University
Programs
MAcc Specialization in Forensic Accounting
Course Requirements (total of 30 credits)
MAcc Core (21 credits)
ACC 502 Advanced Auditing
ACC 503 Management Accounting II - Cost Analysis
ACC 504 Advanced Accounting Information Systems
ACC 505 Advanced Taxation
ACC 507 Governmental and Institutional Accounting
MAN 510 Management Ethics
BUS 670 Advanced Operations Management
Forensic Accounting Specialization (12 credits)
Any four courses (with the advance approval of the student's advisor) from:
ACC 502 Advanced Auditing
ACC 540 Fraud Examination
ACC 541 Forensic Accounting Applications
ACC 542 Forensic Accounting Practice Issues
ACC 543 Computer Auditing and Investigation
If students take ACC 502 in the core and select three other forensic accounting courses as their required accounting elective and two required general electives, they can complete the program within the existing 30 credits.
Graduate Certificate in Forensic Accounting
The Graduate Certificate in Forensic Accounting is awarded after completing at St. Thomas University twelve (12) credit hours (four courses) as approved by the program coordinator from the following list:
ACC 502 Advanced Auditing
ACC 540 Fraud Examination
ACC 541 Forensic Accounting Applications
ACC 542 Forensic Accounting Practice Issues
ACC 543 Computer Auditing and Investigation
Courses
ACC 502 - Advanced Auditing
Auditing theory and practice focusing on the application of auditing standards and techniques in the achievement of audit objectives. Also covered are ethics, responsibilities, and specialized functions of CPAs and their changing role in society. Required prerequisite: undergraduate auditing.
An introduction to fraud from the accountant’s viewpoint covering types of fraud, methods of preventing fraud in organizations, approaches to fraud detection, spotting fraud symptoms, and investigation of fraud allegations.
ACC 541 - Forensic Accounting Applications
A survey of forensic accounting applications, including valuation, economic damages, fraud, family law, bankruptcy, securities and insurance claims, negligence and contract disputes. Professional standards and the role of the forensic accountant as a critical team member in the resolution of complex legal issues are stressed.
ACC 542 - Forensic Accounting Practice Issues
The issues involved in managing a forensic accounting practice are explored. This includes such critical areas as the litigation process, relationships with attorneys, professional standards, investigations and evidence, asset recovery, practice management, reporting, and testifying.
ACC 543 - Computer Auditing and Investigation
The computer, both as a source of evidence and a tool in forensic investigations and audits, is considered. Professional and legal standards, computer forensics, computer assisted audit tools, IS audits, and special issues involving e-mail and e-business are explored. Recommended prerequisites: undergraduate auditing and accounting information systems.
For more information on Forensic Accounting programs at St. Thomas University, contact Dr. Raymond Kulzick, CPA, CFE at rkulzick@stu.edu
* See the current graduate school catalog for more information, including admissions and academic requirements.
- 4/15/2005 -