Posted: February 19th, 2022
Forensic accountants are lucky in that they have a variety of entry-level alternatives. Unlike other accounting careers, forensic auditors tend to conduct the same tasks throughout their careers and go from analyst to manager to supervisor or senior consultant. (Friedrich, 2021) Professional qualification, education, and years of experience contribute to higher pay, with senior-level auditors earning upwards of $150,000. The Association of Certified Fraud Examiners (ACFE) Certified Fraud Examiner (CFE) and the American Institute of Certified Public Accountants (AICPA) Certified in Financial Forensics Credential are the two most commonly recognized certification alternatives available to forensic accountants (CFF). Many fraud examiner jobs will need one of these certifications, and even if they don’t, certified forensic accountants make 25% more on average than their noncertified counterparts. According to the Bureau of Labour Statistics (BLS), accounting and auditing jobs are expected to expand by 13% by 2022, according to the Bureau of Labor Statistics (BLS). Because of increased financial laws, the expansion of all forensic accounting occupations should keep pace, if not surpass it, with some projections anticipating a 20% increase in demand for investigative auditors. The gaining of high lucrative salary packages and accepting challenging jobs in the market are often sound interesting in terms of career selection. We have broken down some of the most frequent job pathways below, along with possible pay statistics from the Association of Certified Fraud Examiners. As a person grows in their career and narrows down on a particular area of interest, switching between these sorts of jobs is customary. From Figures 6 and 7, we understand how widely this department impacts the market (Lawal et al., 2021).
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