The Association of Certified Fraud Examiners grants the CFE credential (ACFE). It is the biggest anti-fraud group in the world.
A bachelor’s degree or its equivalent in any discipline, as well as at least two years of professional experience in a field directly or indirectly. Relevant to spotting or preventing fraud, are prerequisites for becoming a CFE.
CFEs may review a company’s financial records and statements to look for signs of fraud since they are knowledgeable about how fraud might be conducted.
In situations where employee theft is suspected or other sorts of fraud, such as insurance fraud, may be taking place, a CFE may also be able to help.
Before diving deeper into the CFE certification firstly know about the CFE exam!
An accountant with expertise in locating and exposing fraud and the perpetrators of it is known as a “fraud examiner.”
They have received specialized training and certification to identify fraud situations, conduct investigations, and conclude.
Their work helps to shield people and companies against local, national, or multinational con artists stealing important money and financial transaction data.
They also work with law enforcement to obtain the evidence required to present the criminals before a judge and jury.
Do you understand how long it takes to get a Certified Fraud Examiner certification?
It would entirely depend on how much time you have available to finish the course material. Which would comprise the handbook and the database of questions and answers.
The best method to get confident in all the course material and to have a sense of what to expect on the final test is to take practice examinations.
To get a certification in the Certified Fraud Examiner exam you need a Bachelor’s degree, membership in the Association of Certified Fraud Examiners (ACFE), and two years of experience.
A person can acquire the thorough professional knowledge required for fraud investigation, prevention, detection, and deterrent with the use of this certification.
CFEs may review a company’s financial records and statements to look for signs of fraud since they are knowledgeable about how fraud might be conducted.
To become a CFE, you must first join the ACFE and then pass a test measuring your knowledge and skill in the following four areas:
- Financial transaction and fraud schemes
- Law
- Investigation
- Fraud Prevention and Deterrence
Steps to becoming a Certified fraud examiner:
Steps to becoming a Certified Fraud Examiner help to understand the entire process of the CFE exam.
CFE certification can be obtained through a variety of alternative educational and professional programs, but the typical procedures are as follows:
Step 1: Becoming a CFE Member:
You must be a member to register for the CFE exam and earn your anti-fraud credential. Check your eligibility before joining and taking the test.
Step 2: Registering for the CFE Exam:
To complete your application and register for the ACFE test, you must submit a comprehensive CFE Exam application with the appropriate supporting paperwork.
The CFE Certification Cost is made up of a variety of expenses, including membership fees, CFE test fees, retake exam fees and membership fees.
Step 3: Getting ready for the CFE exam:
You can choose from a variety of online CFE exam preparation courses on the ACFE website, including a study of our own “Fraud Examiners manual,”.
A 2000-page manual that explores examination procedures and techniques. A CFE Exam Review course, a 4-day class led by an instructor. That gives students the fundamentals they need to pass the CFE exam. And the ACFE’s most well-liked CFE Exam Prep course.
You can also choose from a variety of online CFE exam preparation courses and study materials. That will not only assist you in honing your skills but will also provide you with thorough instructions on how to pass your exam successfully, quickly, and affordably.
Step 4: Pass the CFE exam:
A closed-book and closed-notes test is what the CFE exam is. The test, which consists of 500 questions divided into four sections, establishes rigorous standards for the anti-fraud profession. There are 125 questions in each segment, and each question has a time restriction of 75 seconds.
To become a CFE, you must pass a rigorous test covering the core of knowledge and comprehension for the fraud examination in four major disciplines:
- Financial transaction and fraud schemes
- Law
- Investigation
- Fraud Prevention and Deterrence
Benefits of being a Certified Fraud Examiner:
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Improve the bottom line of your business:
Organizations with CFEs on staff identify fraudulent activity 50% faster and suffer around 62% fewer fraudulent losses than companies without CFEs.
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Differentiates you from your co-workers:
The Securities and Exchange Commission (SEC), the United States Department of Defense. And the FBI all use the CFE certification in their hiring and promotion procedures.
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Increases your marketability and job security:
The CFE certification, known as “the gold standard” in the field of fraud. Is unquestionably one of the most in-demand and sought-after certifications today.
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It advances your professional career:
The anti-fraud credential is a recognized symbol of experience, knowledge, and skill that demonstrates a high level of professionalism.
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Obtain credibility and visibility in your field of work:
The CFE accreditation is widely recognized as the gold standard for excellence in the anti-fraud industry.
By uncovering fraudulent activity and implementing appropriate procedures to prevent fraud from occurring in the first place. CFEs throughout the world contribute to the protection of the global economy.
CFE certification holders combine their grasp of complicated financial transactions with their knowledge of legislation, procedures, and how to resolve accusations of fraud.
To create a unique combination of abilities and competence that no other professional discipline or field connected to fraud possesses.
Additional resources and certifications for fraud examiners:
There are several certifications offered by other professional organizations in the field of fraud and financial crime prevention and detection. But we provide end-to-end study material and recorded lectures.
If you are interested in pursuing a career in the field of Certified Fraud Examiner. With the best resources like recorded lectures, short notes, and live sessions. So you can register yourself with us to become a CFE.
