The CFE designation is a demonstration of fraud prevention, detection, or deterrent competence. The Certified Fraud Examiner (CFE), will help you recognize signs that indicate fraud and risk. They protect the global economy by detecting fraud and setting up procedures to prevent it from ever happening again. To become a Certified Fraud Examiner, (CFE), one must be knowledgeable in a variety of subjects.
CFEs have a unique set of talents that is not available in other areas or professions. They are able to understand complex financial transactions. They are also familiar with legal issues, investigation methods, and the ability to settle fraud claims. This skill set is being sought by organizations, which is supporting the growth in anti-fraud careers. We will walk you through the steps to become a Certified Fraud Examiner (CFE) in order to attain this level of skill.
You can become a Certified Fraud Examiner (CFE).
Businesses of all sizes and industries appreciate Certified Fraud Examiners (CFEs). They are skilled in detecting and preventing fraud. ACFE membership is the best way to start in this field. You can also take the Certified Fraud Examiner exam (CFE) to get one. Let’s look at the pathway to get more clarity.
Step 1: Become an ACFE Member
You must be a member to take the CFE Exam and earn your CFE certificate. Associate members can join the Certified Fraud Examiner program (CFE) if they want to elevate their careers and achieve the highest standard of professional excellence within the anti-fraud sector. CFE is becoming a preferred credential for businesses, government agencies, and law enforcement agencies.
Prerequisites for CFE membership:
ACFE Associate membership in good standing
Second, you must meet minimum academic and professional requirements
High moral character
Finally, agreement to adhere to the Bylaws of the Association of Certified Fraud Examiners and Code of Professional Ethics
But why join?
You can become a member to:
Increase your earnings According to a survey CFEs earn 34% higher than their non-certified counterparts.
Second, it will help you advance your career. The CFE certification is a high-level of knowledge, ability, and professionalism. It also serves as evidence of competence, experience, and knowledge.
Third, increase professional visibility and credibility. The CFE is widely recognized as the standard in anti-fraud.
You can then stand out from your peers. The FBI, United States Department of Defense and United States Securities and Exchange Commission all accept CFE certificates in their recruitment and advancement processes (SEC).
The final impact on your company’s bottom line They also have 62 per cent lower fraud losses than organizations without CFEs.
Step 2: Understanding the Certified Fraud Examiner’s (CFE) Exam
The CFE Exam tests your knowledge of the four main areas of fraud examination knowledge. It can take up to ten hours for the CFE Exam to complete. Each section contains 125 questions. To pass the exam you must answer at least 75% each segment. Before you can take the exam, you must request the Exam Activation Key. These areas are:
1. Fraud schemes and financial transactions
This test tests your knowledge about the various types of fraudulent financial transactions that can be found in accounting records. To pass Financial Transactions & Fraud Schemes, you must have a solid understanding of the following topics: Fundamental accounting a