A Certified Fraud Examiner (CFE) is a special certificate given by the ACFE to people who have done a lot of work and follow the rules carefully. This certificate shows that they are qualified to investigate and find out about fraud. People called CFEs are taught how to find out if people are cheating, figure out how to stop it from happening, and make plans to stop it from happening again. Businesses need them a lot because fraud can cost a lot of money and harm the company’s income.
To become a CFE, you need to pass a big test, have worked in fraud for two years, and promise to follow the ACFE’s rules. The test includes different things you need to know about stopping people from doing bad things, finding out if they did them, figuring out what happened, and telling someone about it.
CFEs help keep businesses safe from fraud. They use what they know and can do to find and examine lies, and to make plans to stop lying. CFEs teach employees how to stop and find fraud.
If you want to work in preventing or investigating fraud, becoming a CFE can help you make more money and have a more secure job. People with CFEs make a lot more money than those without one, even if they have the same education and experience.
What are the prerequisites for a Certified Fraud Examiner?
- Applicants must have a bachelor’s degree from an accredited college or university
- Applicants must have two years of fraud examination experience or a related field
- Applicants must pass the CFE exam administered by Association of Certified Fraud Examiners (ACFE)
- Applicants must agree to abide by the Association of Certified Fraud Examiners (ACFE)’s Code of Ethics
What is the coursework for a Certified Fraud Examiner?
You don’t need any certain classes to become a Certified Fraud Examiner (CFE). It’s a good idea to take classes in accounting, business, or law. The ACFE provides different ways to help people get ready for the CFE test. They have study guides, online courses, and webinars. These are some classes that can be useful for people who are preparing to take the CFE exam.
The ACFE gives many things to study, like the Fraud Examiners Manual, the CFE Exam Review Course, and the CFE Exam Prep Course. The Fraud Examiners Manual is a very helpful book that talks about everything you need to know for the CFE test. The CFE Exam Review Course is a course you study by yourself that explains what’s on the exam. The CFE Exam Prep Course is a class taught by a teacher that teaches more details about what topics will be on the exam.
The ACFE has online classes to help CFE exam takers get ready. The classes teach about stopping, finding, and looking into fraud.
What is the typical cost of a Certified Fraud Examiner?
Becoming a Certified Fraud Examiner usually costs between $2,500 and $3,000. This means the money you need to pay for the test, books to learn from, and being part of the group.
You have to pay $450 for the exam. If you bought the CFE Exam Prep Course, you’ll get a $100 discount on the cost of the CFE Exam fee. So, you’ll only have to pay $350 for the exam.
The price of things you need to study can change based on who you get them from. Usually, they cost between $100 and $500. Being a member of ACFE (Association of Certified Fraud Examiners) costs $195 every year.
Becoming a CFE can cost you between $2,500 to $3,000, but it depends on your situation. Getting the CFE title could be expensive, but it can also help your career a lot. Getting a CFE designation means you have the knowledge and skills to be a good fraud examiner that people all around the world recognize.
What are the responsibilities of a Certified Fraud Examiner?
CFEs are experts who are really good at stopping fraud from happening to businesses. Businesses really want them and they can make much more money than others who have the same education and experience but are not Certified Fraud Examiners. If you want to work in stopping or investigating fraud, becoming a CFE could help you earn more money and have a more secure job.
- Plan and Conducting Fraud Investigations: Investigate cheating cases by talking to people who saw what happened, collecting evidence, and looking at money records.
- Identify and Mitigate Fraud related risks: Find and evaluate the chances of cheating, and create and put into action plans to reduce these chances.
- Develop, Implement and Assess Anti-Fraud Programs: Make plans and take action to stop fraud in organizations. Check if anti-fraud programs are working well and doing what they are supposed to do.