Accounting with Emphasis on Forensic and Fraud Detection, M.S.

Overview and Learning Outcomes

In 1969, the American Institute of Certified Public Accountants (AICPA) issued a report stating that the body of knowledge required for basic competency for Certified Public Accountants (CPA) necessitated five years of education. This report began the debate surrounding the adoption of a 150-hour requirement among the jurisdictions that regulate public accounting licensure. Pennsylvania, one of the last jurisdictions to implement the 150-hour requirement, passed legislation on July 10, 2008 and which became effective in January, 2012. A component of the new law, the 150-hour requirement, essentially calls for a fifth year of higher education before a candidate can sit for the Uniform Certified Public Accountant Examination (Uniform CPA Examination). In the past, to sit for the Uniform CPA examination in Pennsylvania, a CPA candidate must have had completed 120 higher education credits and two years of work related experience. As of January 1, 2012, the CPA candidate must complete 150 higher education credits and one year of work related experience for CPA licensure in the state of Pennsylvania.

Master of Science degree program in Forensic Accounting and Fraud Detection has been designed to enable students to meet and successful satisfy the 150-hour requirement mandated by the state of Pennsylvania. In addition, successful graduates will be able to:

• Inform the practices of fraud detection in accounting through personal and professional values-based ethics, and the Franciscan Intellectual Tradition;
• Evaluate legal principles and issues within the investigation of accounting fraud;
• Demonstrate the knowledge of basic principles of audit risk, forensic accounting techniques, and cyber forensic investigations;
• Apply the science of forensics to financial statement analysis using proper fraud terminology;
• Produce scholarly reports using appropriate academic and research resources;
• Effectively deliver formal presentations before a live audience;
• Work effectively as members and leaders within diverse and interdependent groups to achieve goals.

Program Design

The Master of Science in Accounting, with emphasis on Forensic and Fraud Detection, builds a broader base of knowledge in the area of fraud and forensic accounting than does the more traditionally focused M.S. is accountancy. Neumann’s Master of Science degree program in Accounting requires a total 10 courses (30 credits). All courses incorporate the Core Franciscan values of Reverence, Integrity, Service, Excellence, and Stewardship, particularly as those values relate to and integrate with course content. As part of this Master’s program, an “Evening of Reflection” is presented by the Mission and Ministry Unit and is a required component of ACT 560 , Ethics of Forensic Accounting. Additionally, guest speakers who have an extensive experiential background in ethics and ethical decision-making are invited into classes to reaffirm the Division of Business and Information Management’s commitment to moral and social values that are congruent with those of the University.
Students can complete the program in 21 months if two courses are taken per semester including summer. An option to complete the program in 18 months is available.

Admission Requirements

Applicants with a baccalaureate degree from a regionally accredited, degree-granting institution who have successfully completed all prerequisite courses are eligible for entrance to the Master of Science in Accounting Program, subject to the approval of the Program Director. Acceptance is on a competitive basis after submission of all credentials and an interview with the Program Director. All applicants must submit the following:

•  A completed Graduate Student Application, in online through www.neumann.edu/apply.
• Official transcripts from all institutions attended.
• Letter of intent which outlines why you wish to pursue the Master of Science in Accounting degree.
• Two official, professional letters of reference.
• Current professional resume.

A maximum of nine [9] Credits may be transferred into the Program with the approval of the Division Dean.
Once all admission materials have been received and processed through the Office of Admissions, the Program’s Director will review of all candidate credentials and arrange for an interview, if appropriate.

Progression/Retention/Graduation Requirements

For the Master of Science in Accounting, continued progress requires that the student maintain an overall “B” average (cumulative 3.00 GPA) in the required courses and satisfactory participation in the program. Completion of all degree requirements for the program is not to exceed five years. Exemption to this time limitation must be applied for in a written request to the Division Dean. Graduation from the program is contingent upon (1) submitting a signed Application for Graduation form to the Registrar on or before the date specified in the Academic Calendar; and (2) successful completion of all course work, including report(s) of action research, and an effective, formal presentation of learning to a faculty committee. The student must maintain an overall “B” average (cumulative 3.00 GPA) in all required courses, with no more than two grades of “C” level work.