It’s no secret that forensic accounting has become one of the fastest growing careers over the last several years. As an industry, forensic accounting has seen a burst due to a number of critical elements, underlining the fact that this increase in demand does not seem to be slowing down any time soon. A variety of research reports point out the massive growth in annual revenues over the last 10 years, indicating a strong and sustainable progression in the field. Factors such as increased regulation and financial reforms open the door to new opportunities for forensic accountants to service a sizable assortment of clientele. As a result, students across the nation have expressed interest in forensic accounting education.
Florida Atlantic University’s College of Business is among the first to fully recognize this void in the education marketplace and has taken an important step to fill it. Announced just last month, FAU will launch the Center for Forensic Accounting, one of the first Centers of its kind in the country and the only Center of its kind in the state of Florida. This graduate student program will “develop and disseminate knowledge on this growing area of study to students, government and the business community”. The Center for Forensic Accounting will provide education on a combination of accounting, auditing, and investigation of financial information as well as other forms of evidence in order to provide analysis to corporations, courts of law, and others.
Michael Crain, D.B.A., is the Center’s director and has served as an FAU faculty member since 2008. With over 30 years of experience, Crain’s knowledge of forensic accounting, business valuation, and economic damages will prove to be instrumental in the program’s success. He stated, “In addition to education and outreach, one of the missions of the Center is to develop knowledge in forensic accounting and fraud detection and prevention. We’re engaging with people who are directly responsible for regulating, detecting and reducing financial fraud and misrepresentation.”
Following a two-day joint conference with the U.S. Treasury Department on “Forensic Accounting and the Bank Secrecy Act”, the Center hosted participants from certified fraud examiners to members of the banking industry and from forensic accountants to law enforcement. Crain continued, “The response to our first joint conference with the U.S. Treasury Department has been very positive, and we look forward to future collaborations with the government and the business community in South Florida.”
A new growth in demand paired with a new selection of educated accountants will lay the foundation for great success in the forensic accounting field. From fraud to valuations, an experienced forensic account is highly sought after in a variety of related fields nowadays. As such, FAU’s Center for Forensic Accounting will prove to be an excellent source of new talent and young minds that will undoubtedly cultivate the growing industry of forensic accounting.