Key Takeaways
A forensic accounting master's program trains students to investigate financial crimes like fraud and embezzlement.
Programs typically take 12–24 months and include courses in auditing, fraud, and digital forensics.
Graduates qualify for roles as auditors, examiners, or analysts, with median annual salaries from $81,000 to over $100,000, as of May 2024.
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
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.
Degree, Concentration, and Format Options
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.
| 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
Prerequisite courses, such as statistics, mathematics, or accounting principles
Personal statement or statement of purpose
Application fee
Popular Forensic Accounting Graduate Courses
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.
Should You Get Your Degree Online?
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:
Your ideal learning schedule
If your learning style aligns with online courses
How much support and interaction do you need
How disciplined and organized you are
Your ideal classroom experience/environment
Forensic Accounting Jobs and Salaries
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 $80,920 in May 2024.
The list below details some careers you can pursue after completing your degree.
External Auditor
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.
Job Outlook (2024-34): +5%
Median Annual Salary: $81,680
Source: BLS
Financial Analyst
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.
Job Outlook (2024-34): +6%
Median Annual Salary: $101,910
Source: BLS
Financial Examiner
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.
Job Outlook (2024-34): +19%
Median Annual Salary: $90,400
Source: BLS
Selecting the Right Graduate Program
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
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.
