Professional Profile of Certified Fraud Examiners
The Certified Fraud Examiners have unique expertise in the prevention and detection of fraud and other economic offenses. Due to the the high quality standards defined by the professional organisation of the Certified Fraud Examiners, the Association of Certified Fraud Examiners in the USA, such as:
Basic academic education (in principal)
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Long term professional experience
in a field either directly or indirectly related to the detection or deterrence of fraud
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Comprehensive educational program to the Certified Fraud Examiners
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Personality profile of the professionals
ensures compliance with high demands in the rendering of internal or external antifraud services.
Entitled to hold and maintain the internationally recognised title «Certified Fraud Examiner» (CFE) is whoever:
has successfully passed the CFE Exam (Certification Exam),
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acknowledges the ACFE Codes of Professional and Ethics Standards and
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fullfills the ACFE Membership and Continuing Professional Education requirements on a yearly basis.
Explanatory video: “How to become a Certified Fraud Examiner”
by John D. Gill, J.D., CFE, Vice President – Education
Association of Certified Fraud Examiners
Regulations for the CFE Exam
Admission to the CFE Exam
At the time of your application for the CFE exam, you must meet the following requirements:
You must be an Associate member of the ACFE USA.
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You must meet certain minimum standards with regard to your academic training and your professional experience.
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You must have a high moral character.
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You must acknowledge the Bylaws and the Code of Professional Standards and Code of Ethics of the ACFE USA.
Minimum academic standards
At least one recognised bachelor’s degree (or comparable degree) with at least 4 years of study duration.
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However, the direction of study is not an admission criterion.
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If you do not have a corresponding degree, you can replace the basic academic training years required by relevant professional experience in the forensic field. It is necessary to demonstrate two years of relevant professional experience per required academic year.
Professional Experience
At the time of your certification to CFE, you must have at least two years of relevant professional experience. This includes professional experience acquired directly or indirectly in the field of fraud detection or prevention. Professional experience acquired in the following areas is generally recognised as relevant:
Accounting and Auditing + Criminology and Sociology + Fraud Investigation + Loss Prevention + Law
If you have other relevant professional experience in the field of combating economic crime, this may also be taken into account in the course of your application for authorisation.
Scope of the CFE Exam
The CFE Exam tests your knowledge of the four major areas that comprise the fraud examination body of knowledge:
Fraud Prevention and Deterrence
Tests your understanding of why people commit fraud and ways to prevent it. Topics covered in this section include crime causation, white-collar crime, occupational fraud, fraud prevention, fraud risk assessment and the ACFE Code of Professional Ethics.
Financial Transactions and Fraud Schemes
Tests your comprehension of the types of fraudulent financial transactions incurred in accounting records. To pass Financial Transactions & Fraud Schemes, you will be required to demonstrate knowledge of the following concepts: basic accounting and auditing theory, fraud schemes, internal controls to deter fraud and other auditing and accounting matters.
Investigation
Includes questions about interviewing, taking statements, obtaining information from public records, tracing illicit transactions, evaluating deception and report writing.
Law
Ensures your familiarity with the many legal ramifications of conducting fraud examinations, including criminal and civil law, rules of evidence, rights of the accused and accuser and expert witness matters.
Become a Certified Fraud Examiner
in 4 Steps
Step 2: Prepare for the CFE Exam
For self-study you can use the «Fraud Examiners Manual»* and the electronic «CFE Exam Prep Course» in English language.
[* included in «CFE Exam Prep Course» in electronic form]
Since the CFE Exam can only be taken in English, knowledge of English terminology is required, among other things from various business disciplines as well as from the fields of law and criminology.
Use the ACFE training material to test your language level and to train your skills.
According to experience, the preparation phase is expected to be three to six months in time. For optimal preparation, attendance of a ” CFE Exam Review Course” is recommended.
During a compact and structured 4-day course, taken in person, the examination material is reviewed with experienced trainers. At the same session, on completion of the course, the CFE Diploma examination is taken on your own.
Whether you prefer a self-paced computer course or a live instructor event, the ACFE supports you in your efforts to prepare for the CFE exam.
Step 3: Apply for the CFE Exam
In order to complete the CFE Exam and to be awarded the title Certified Fraud Examiner, you need a minimum score on the basis of the ACFE «Point System».
We recommend you apply approximately one month before you plan to take the CFE Exam.
Copies of degrees/diplomas are required as proof of education. Two years of fraud-related professional experience are required as a minimum requirement. In addition, three letters of recommendation are required to prove personal suitability.
After online exam registration (CFE Exam Application) and payment of exam fees please visit the Certification Portal to submit your documents, details of your professional experience, proof of education, a current photo and professional recommendations.
Step 4: Pass the CFE Exam
The CFE Exam is administered through Prometric’s exam delivery system. You have the option to take your exam in one of two ways:
– At a private location of your choice using Prometric’s online remote proctoring platform
– At one of the many Prometric testing centers located throughout the world
Upon receiving approval from the ACFE, you must schedule your exam appointments directly through Prometric. You will have 60 days to complete all four sections of the exam. Changes made within 30 days of an exam appointment will be subject to additional fees.
Remote proctoring allows you to take the CFE Exam from the comfort of your own home or office without having to travel or test near other people. However, remote proctoring is not right for everyone. You also have the option to test at any of Prometric’s testing centers located throughout the world, if you have technological or logistical challenges with online remote testing.
After completing each section of the CFE Exam, you will receive a Notice of Completion via email. The ACFE will email your complete exam results within 3–5 business days of your FINAL exam submission, unless CFE Exam Review Course rules apply. To pass, you must accurately answer at least 75% of the questions in each section of the CFE Exam. CFE Exam scores are only released when you have not achieved the 75% pass rate. This procedure ensures the integrity of the testing process. The ACFE Board of Regents oversees the exam process.
