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Draft Guidelines for Fraud and Forensic Accounting Education

By Mary-Jo Kranacher, MBA, CFE, CPA

Fraud Edge

Since many of the highly publicized corporate scandals hit the newspapers, the demand for entry-level professionals with formal education in fraud detection and deterrence has grown. As a result, educational institutions and other stakeholder organizations have wrestled with issues surrounding the nature, extent, and format for curricula that would effectively address the knowledge, skills, and abilities needed for entry into this profession.  

On Oct. 14, 2005, the final meeting of the Technical Working Group (TWG) for Fraud and Forensic Accounting took place in Washington, D.C. Co-chairs and principal investigators, Richard Riley, Ph.D., CFE, CPA, and Bonnie Morris, Ph.D., directed the project, which was funded by a grant from the U.S. Department of Justice to West Virginia University. ACFE founder and Chairman Joseph T. Wells and I were members of the TWG.

The TWG was initially formed in March 2004 to develop educational and training guidelines for fraud and forensic accounting. It was composed of representatives from private industry, professional service firms, law enforcement, the legal community, government and regulatory agencies, professional organizations, and higher education. All the individuals involved had a special interest in enhancing the education of future fraud and forensic accounting professionals. The TWG sought to provide guidelines; following is a summary of its findings.

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