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Improve your marketing and job security
Robert Half International identifies the CFE as “required … one of the most marketable credentials today” and AE Feldman, a leading executive research firm, says that “… CFE has become the point of reference for fraud.”
For example, the probability of promotional opportunities for security personnel (G4, Wells Fargo Limited, Bob Morgan Security Ltd among others) increases by 100%, for those with CFE compared to those who do not have a CFE. Auditors with CFE are 3 times more likely to get greener opportunities elsewhere. Law enforcement officers (police, CID) with CFE are 1.8 times more likely to be assigned to fact-finding missions or to be hired for private work.
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How to Prepare For ACFE CFE Certification Exam
Preparation Guide for ACFE CFE Certification Exam
ACFE CFE Certification: Tips to survive if you don't have time to read all the page
A certified fraud examiner (CFE) is an authority in the professional anti-fraud world. He stands out as a professional in the prevention, deterrence, and investigation of fraudulent practices. CFEs have skills that no other professional in the anti-fraud community can boast of. They combine complex accounting operations with a thorough understanding of legal issues, investigative skills and how to further discourage and prevent fraud. Therefore, these are the main criteria used by ACFE. ACFE provides the training and education necessary for an individual to become a certified fraud examiner.
The aim of these training courses and exams is to provide the CFE with the initial skills to detect signs of fraud, defend the global economy by discovering fraudulent practices and devise methods to avoid fraud. No organization in the world, regardless of its size, is safe from fraudulent practices. These workplace frauds are universal and destructive in nature.
According to a study conducted by the Report to Nations in 2016, small organizations tend to suffer extremely high losses compared to large organizations because they employ fewer anti-fraud professionals, which makes them vulnerable to the risks of fraud. Indeed, it is estimated that around 5% of the revenue lost due to fraud per year is due to fraud and work-related abuse.
Reference: http://www.acfe.com/details-of-exam.aspx
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As a Kenyan patriot, it is your responsibility to equip yourself with CFE skills so that you can play a role in President Uhuru's Big 4 program. As a CFE, you can play a role in ensuring that the misappropriation of public and private resources is reduced. The Big 4 builds on reports from investigative and judicial agencies such as the Office of the Director of Public Prosecutors (ODPP), the Office of the Director of Criminal Investigations (DCI), the Office of the Ethics and Anti-Corruption Commission (OEACC), among the others
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ACFE CFE Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Fraud Prevention and Deterrence | 25% | - Internal Controls - Corporate Governance - Fraud Prevention Programs - Fraud Awareness Training - Fraud Risk Assessment - Whistleblower Programs |
| Topic 2: Law | 25% | - Racketeer Influenced and Corrupt Organizations Act (RICO) - Legal Pitfalls for Fraud Examiners - Rights of the Accused - Evidence and Rules of Evidence - Criminal Law - Civil Law |
| Topic 3: Financial Transactions and Fraud Schemes | 25% | - Asset Misappropriation - Accounting and Financial Concepts - Fraudulent Financial Transactions - Fraud Schemes (billing, expense reimbursement, check tampering, etc.) - Corruption Schemes (bribery, kickbacks, conflicts of interest) - Financial Statement Fraud |
| Topic 4: Investigation | 25% | - Interviewing and Interrogation Techniques - Tracing Illicit Transactions - Evidence Collection and Documentation - Data Analysis and Forensic Accounting - Digital Forensics Basics - Report Writing |
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