Master Analyst in Financial Forensics (MAFF): Overview

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What Is a Master Analyst in Financial Forensics (MAFF)?

A Master Analyst in Financial Forensics (MAFF) is a specialized accounting credential that certifies expertise in identifying financial crimes. It is offered by the Financial Forensics Institute, a subsidiary of the National Association of Certified Valuation Analysts (NACVA). The MAFF has prerequisites, including specialist accounting certifications and practical experience. Candidates must pass a test and meet post-certification requirements, such as continuing education, to maintain the credential.

Key Takeaways

• Forensic accounting investigates and uncovers embezzlement, accounting fraud, or financial crimes.
• The Master Analyst in Financial Forensics (MAFF) designation was created to meet the specialized requirements of forensic accounting.
• To earn the MAFF, candidates must be a member of the NACVA association, hold a qualified accounting designation, and pass a rigorous exam.

Understanding a Master Analyst in Financial Forensics

Forensic accounting utilizes accounting, auditing, and investigative skills to examine the finances of individuals or businesses. It provides an accounting analysis suitable for legal proceedings. Forensic accountants look beyond the numbers and deal with the business reality of a situation. Forensic accounting is frequently used in fraud and embezzlement cases to explain the nature of a financial crime in court.

Master Analysts in Financial Forensics have the ability to determine evidence of criminal activity by analyzing financial statements. They frequently work with attorneys in litigation or serve as expert witnesses in trials. The Master Analyst in Financial Forensics designation was previously called the "Certified Forensic Financial Analyst (CFFA)." Its name changed on April 12, 2013. Anyone who previously held the CFFA certification must now use the new name.

Master Analyst in Financial Forensics Qualifications

Requirements for obtaining and maintaining the MAFF designation include educational and professional certifications, work experience, business and professional references, specialized training, an examination, and ongoing education. MAFFs must also maintain active NACVA membership.

Candidates for a Master Analyst in Financial Forensics certification must hold certifications or other accounting or financial credentials subject to NACVA approval. They also need a bachelor’s degree in a business field from an accredited university/college or a master’s degree or doctorate in a business field.

• CVA—Certified Valuation Analyst
• ABAR—Accredited in Business Appraisal Review
• ABV—Accredited in Business Valuation
• ASA—Accredited Senior Appraiser
• AM—Accredited Member of the ASA
• CBA—Certified Business Appraiser
• CBV—Chartered Business Valuator
• CDFA—Certified Divorce Financial Analyst
• CFA—Chartered Financial Analyst
• CFE—Certified Fraud Examiner
• CFF—Certified in Financial Forensics
• CIRA—Certified Insolvency & Restructuring Advisor
• CMA—Certified Management Accountant
• CM&AA—Certified Merger & Acquisition Advisor
• Cr.FA—Certified Forensic Accountant
• CPA—Certified Public Accountant
• CA—Chartered Accountant
• MCBA—Master Certified Business Appraiser

MAFF candidates must pass a two-part, five-hour proctored exam following NACVA’s Financial Forensics Body of Knowledge (FFBOK). To prepare for the exam, NACVA sponsors and recommends a five-day course entitled "Financial Litigation Consulting Professionals Workshop."

MAFF candidates must choose one area of specialization from the following:

• Commercial Damages and Lost Profits
• Matrimonial Litigation
• Bankruptcy, Insolvency, and Restructuring
• Business Valuation in Litigation
• Business and Intellectual Property Damages
• Personal Injury and Wrongful Death
• Forensic Accounting
• Fraud Risk Management

If candidates lack professional or practical experience, they may attend a NACVA-endorsed training program. For more information, see NACVA’s MAFF Qualifications and its MAFF informational page.

If candidates lack professional or practical experience, they may attend a NACVA-endorsed training program. For more information, see NACVA’s MAFF Qualifications and its MAFF informational page.