In today’s competitive job market, employers are seeking to hire graduates that are highly specialized and well trained.  You can’t afford to waste your time with an education that won’t help you get the job you want.  At Centennial College, all our programs are geared for success.

As part of your Financial Fraud Investigation Program, you will not only learn how to use the latest cutting edge tools, but you will also learn how to apply the latest principles from business professionals. To compliment your classroom learning, you will also get hands-on experience in the labs.

Centennial’s staff not only believes in providing students with the best teaching experience possible, but also to offer the best guidance and career advice.

Program Overview

The program provides students with the essential skills and knowledge in forensic accounting and investigation techniques, equipping them to work in entry-level positions in the field of forensic accounting and audit investigations, within the public or private sector.

The program is designed for students who have completed a recognized diploma or degree program and wish to acquire a specialization in the emerging field of forensic accounting fraud investigations.

The program prepares the graduate to practice in areas such as fraud and economic loss quantification including: investigating and analyzing financial evidence, testifying as a witness, becoming involved in criminal investigations and uncovering financial evidence in employee or insurance fraud cases, and investigating in the rapidly evolving area of computer fraud.

Admission Requirements

Applicants to Graduate Certificate programs must submit an official transcript demonstrating proof of successful completion of a post-secondary diploma in business or accounting. Applicants presenting a combination of partial post-secondary education and relevant work experience will be considered.

Non-Academic Requirements

Interview, transcript and resumé review may be required
English and/or math skills assessment may be required

Graduation Requirements

Minimum C grade average and an overall minimum GPA of 2.0 is required for graduation

The qualification requirements and costs for each external accreditation, designation, certification or recognition are set by the granting body and not by Centennial College. In order to qualify for any of those external accreditation, designations, certification or recognition, students and graduates will need to follow the processes and meet the applicable requirements listed on the websites and materials of those external bodies.

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With credit card scams becoming commonplace, bankcards being compromised, people trying to scam insurance companies, and more, financial crime prevention is one of the fastest growing areas of finance. The advancement of technology has seen financial crime evolve rapidly recently, which creates new risks that need to be addressed and a new field that organizations turn in cases of financial crimes. This exciting new field combines the business of money with investigation and is called Financial Fraud Investigation.

The professionals who work in this sector of the financial industry possess essential skills and knowledge in forensic accounting fraud investigation techniques. The eight-month Centennial College’s Financial Fraud Investigation program offers just what you need to find entry-level positions in the field of forensic accounting and audit investigations, within the public or private sectors. Designed for applicants who have completed a diploma or degree program but want to learn more about the field of financial fraud investigations, this program has some specific prerequisites. Applicants must submit an official transcript demonstrating proof of successful completion of a post-secondary diploma in business or accounting. They may also be required to attend an interview session and present a resume. English and/or math skills may also be tested. Applicants who present a combination of partial post-secondary education and relevant work experience will be considered.

After successfully entering the Financial Fraud Investigation program, you will be prepared for areas of fraud and economic loss quantification such as: investigating and analyzing financial evidence, testifying as a witness, becoming involved in criminal investigations and uncovering financial evidence in employee or insurance fraud cases, and investigating in the rapidly evolving area of computer fraud. Learning occurs through specialized courses such as Financial Crimes Investigation, Introduction to Intelligence Gathering, International Legal Elements, Forensic Accounting, Ethics and Fraud Criminology and more. Experts from the industry serve as faculty, ensuring that students are learning from firsthand experiences. The program content also prepares students for the Certified Fraud Examiner examination.

Once they graduate, students of the Financial Fraud Investigation program can find employment as: forensic accounting/ litigation consultants, tax auditors, gaming investigators, insurance investigators, bank investigators and internal auditors. The work of practicing professionals could mean the difference between perpetrators avoiding detection or being brought to justice. In many cases, whether or not the investigation is successful, depends on the professionals. Graduates of Centennial College can rest assured that they will have all the abilities needed to make a name for themselves in financial fraud investigations.

One interesting job in this field is that of a gaming investigator. This person observes casino operations for cheating or theft by employees or patrons. Most of the work is performed in observation rooms using audio and video equipment. These recordings can be used in criminal investigations. Gaming investigators also have the job of being stationed on a catwalk over one-way mirrors located on the casino floor or simply walking around the facility and observing activities. Another option is becoming an internal auditor who conducts risk assessment of assigned departments or functional areas, establishes risk-based audit programs, determines the scope of reviews, reviews the suitability of internal control designs, conducts audit testing of specified areas and identifies reportable issues and verbally communicates findings. Many of the other jobs in Financial Fraud Investigation have overlapping duties.

Find More Forensic Accounting Articles

Alarming sums of money are stolen from businesses each year by trusted employees.  It is estimated that in 2008, at least Billion will be lost by businesses as a result of fraudulent activities.  Surprisingly, smaller companies suffer the majority of the losses.  This is due to their lack of funds to implement preventative procedures in concert with a generally stronger trust and more personal relationship with employees.  In order to prosecute those responsible for these crimes, it is important to understand the path leading to the fraud.

 

Forensic accounting is a rapidly expanding field involving careful investigative work, in depth financial analysis and an understanding of the legal system.  Forensic accountants must think on their feet and work side-by-side with law enforcement personnel in order to solve the puzzles surrounding fraud cases.  Frequently they are required to testify in court as expert witnesses and provide key evidence leading to convictions.  Evidence is gathered from books and other records including computers, hard drives, and email correspondence and computer records.  It is then carefully traced back to where the problem first began.  Forensic accountants act as detectives, lawyers, CPA’s and scientists.  These professionals often have highly developed deductive reasoning skills, familiarity with legal procedures, good writing skills and excellent public speaking skills.  They have the responsibility of convincing a judge and jury that the evidence they have gathered is solid.  Forensic accounting played a large role in convicting Al Capone for tax evasion.  It also figured prominently in exposing the Enron and WorldCom scandals.

 

As technology improves and the amount of money stolen from companies and corporations grows, the demand for forensic accountants has grown rapidly. Considered to be one of the fastest growing accounting jobs, it is predicted that this profession will be among the top twenty in the next few years.  Schools have begun to offer programs in this field to help meet the strong and ever increasing demand for forensic accountants.

 

In the computer age, fraud comes in many forms.  It is much easier for criminals to embezzle money without detection.  This is why forensic accountants typically need advanced computer knowledge.  They must be able to extract evidence from computer hard drives.  Business owners look to forensic accountants to help implement preventative measures.  Many businesses hire these professionals to examine documents and computers regularly so that the chances of a serious problem are minimized.  Forensic accountants also find employment in police departments, law firms and governmental agencies such as the FBI and the IRS.

 

While working for a law firm, there are a variety of legal disputes that a forensic accountant may assist in.  In divorce cases, assistance is needed in dividing assets.  Disputed assets are often investigated behind the scenes in order to determine the most equitable way to split them as well as determine if both parties are credible.  Forensic accountants also assist lawyers in bankruptcy cases.  Evidence is gathered to ensure that there is no suspicious financial activity surrounding the case.  Copywriting and patent infringement, insurance fraud, personal injury, and construction audits are among the kinds of cases that forensic accountants are often called upon to investigate. Police departments hire forensic accountants for many of the same reasons, especially to gather evidence for prosecution that will stand up in court.

 

Forensic accounting professionals express a high level of job satisfaction.  The profession typically offers excellent compensation (0K+/year) and the investigative work is very intellectually challenging.  There is always something new and exciting to work on every day.  It is clearly extremely rewarding to be able to identify those responsible for stealing millions of dollars and in some cases for saving businesses.

 

Until more educational institutions start offering forensic accounting programs, employers often look for Certified Public Accountants, who are certified in Fraud Examination to fill forensic accounting positions.  It is preferred that the job candidates have accounting experience and a good knowledge of the law along with strong computer science, writing and investigative skills.  Background checks and reference checks are also necessary to ensure that new employees have a clear criminal record and a good reputation in the community.

 

Forensic accountants are vital to the survival of both large and small companies.  There will always be new work to do as technology advances.  People with an interest in accounting and detective work who are inspired to identify criminal activity and therefore prevent business failures should consider this as a career option.

                                                      References

Echie, K. (September, 2008). The Training and Skills You Need to Become a

 

       Forensic  Accountant. Retrieved September 30, 2008.

Gold, L. (August, 2007). Litigation Support: Can I Get a Witness? Accounting

 

      Today, Volume 21, No. 15. Page 1. Retrieved September 30, 2008 from:

 

       LexixNexis Academic Database.

Moncliff, J. CSI of Accounting Jobs. Retrieved September 30, 2008.

Ray, R. (October, 2007). Experts in Detecting Financial Misbehavior Match

 

        Wits With Fraud Artists in a Rapidly Growing Field. The Globe and Mall.

 

        Retrieved September 30, 2008 from: LexixNexis Academic Database.

 Russell, M (April, 2007). Be a Financial Detective. Retrieved September 30,

 

        2008.

Stone, J. (November, 2006). Forensic Accounting The Detective Breed of

 

         Accounting Careers. Retrieved October 22, 2008.

Winters, A. G. Forensic Accounting. Retrieved September 30, 2008.

 

            

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The video to the book – A one-of-a-kind resource walking you through one complete fraud investigation, from the original tip to conviction in court. Anatomy of a Fraud Investigation is an engrossing read and a valuable resource for fraud investigators, auditors, or anyone who suspects fraud may be occuring in their organizations and is unsure as to how to act. It details all phases of a fraud investigation from the first suspicion of fraud to the final judgment in court, through the eyes of a forensic accountant. In each phase, the author provides insights based on his twenty-two years as a forensic accountant from where to sit at the table when you bring the suspected fraudster in for questioning, to how you protect the key sources of information that the suspect will try to destroy once he or she realizes they are under investigation.

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The program provides students with the essential skills and knowledge in forensic accounting and investigation techniques, equipping them to work in entry-level positions in the field of forensic accounting and audit investigations, within the public or private sector.