Certified Fraud Examiner certification process
Candidates who meet the minimum academic and professional requirements set by the ACFE may proceed to the certification process for becoming CFE. The process ends with an exam. Upon successful completion of the exam the certificate Certified Fraud Examiner (CFE) is granted.
To be admitted to the examination, you must meet the following requirements:
- Be an associate member of the ACFE. Membership is mandatory for an examination;
- Meet the minimum academic requirements – basic requirement is bachelor’s degree (or equivalent) from any university. Specific field of study is not required. If you do not have a bachelor’s degree, you can replace each year of higher education with two years of proven experience in a field directly related to detecting, combating and countering fraud;
- Meet the minimum requirements for professional qualification: you should have at least two years of professional experience in a field directly or indirectly related to detecting and combating fraud;
- To possess high moral values;
- Agree to abide by the Bylaws and the Code of Professional Ethics of the ACFE.
II. Preparation for the exam
It is important to take the time to prepare for the exam for obtaining the CFE certificate. Preparing for an exam may include one or more of the options listed below:
Self-study through the Fraud Examiner’s Manual. Approximately 90% of the questions on the exam are drawn from material in this manual. The manual can be ordered from the ACFE website as a digital copy, on a disk or hard copy. The volume of the handbook is about 2000 pages. The cost of the manual is between 79 and 179 US dollars for associate members and between 159 and 299 US dollars for nonmembers of ACFE.
2. Software training package
Self-studyg through the use of specialized software CFE Exam Prep Course. The product creates a simulated environment similar to that at the time of taking the exam for certification. The course can be purchased online from the ACFE website. The price is between 745 and 945 US dollars, with an option Money-Back Pass Guarantee.
3. University training
Various universities offer courses, which can be used in preparing for the exam.
III. Taking the exam
The exam for certification is taken at home or working conditions. The exam consists of four parts, a successful exam is considered when all four parts are taken with a positive mark.
IV. Final approval of the commission for certification
After passing the exam and sending it to the ACFE, the results are subject to verification by a commission. When the final result is positive, you will be informed about the steps needed to obtain the certificate as Certified Fraud Examiner.