CSI Accounting: A New Trend In Educational Training

Abstract

Recently, members of the Christos M. Cotsakos College of Business, Department of Accounting and Law, have been approached by IRS and accounting practitioners concerning the addition of fraud and forensic accounting courses to the curriculum.  This seems to be a new trend in expanding the education and training of accounting majors as evidenced by a U.S. Department of Justice, NIJ Special Report titled, “Education and Training in Fraud and Forensic Accounting: A Guide for Educational Institutions, Stakeholder Organizations, faculty and Students.” The December 20, 2005 Draft Report provides that as a result of recent corporate scandals, there has been a substantial increase in both legal and regulatory requirements. “These requirements address internal controls for detecting and deterring fraud and encourage financial statement auditors to be more aggressive in searching for fraud.” Students desirous of becoming “CSI Accountants” are in need of a better understanding surrounding the field and the knowledge and skills required to succeed.  This paper will begin with a brief mention of various financial scandals and certain regulatory requirements which followed.  The motivation for a need for this new educational training will then be reviewed along with the problems faced by institutions of higher education when adding new courses and changing current curriculum. Finally, a brief overview of the contents of the NIJ Report will be made.