What is a Certified Fraud Examiner or CFE?

A CFE is a professional certificate available to fraud Examiners. Certified Fraud Examiners are subject to periodic continuing professional education needs in the same way as CPAs. Also, CFE designation is issued by the ACFE ( the association of certified fraud examiners), which is the largest anti-fraud organization in the world. Before you apply to become a certified CFE South Africa, you have to meet some requirements as listed below. So, take a look at them.

  • Meet minimum academic as well as professional requirements
  • Be an associate member of the association of certified fraud examiners in good standing
  • Must agree to abide by the bylaws and code of professional ethics of the ACFE.
  • Be of higher moral character

Let’s know about the point system for CFE

The eligibility to be certified is based on a point system that awards credit for education, professional experience and affiliations. You must have a minimum two years professional experience plus 50 points so as to be certified. Keep in mind that points claimed for education should be from a recognised institution of higher learning. If you have more than 40 points but less than 50 total qualifying points, you can apply to take the CFE exam but certification will not be awarded until you have a total of 50 points or more plus 2 years of professional experience.

What are academic requirements?

Usually, applicants for CFE certification have a minimum 2 years of a bachelor’s degree from an institution of higher education. No specific field of study is needed. In case you do not have any bachelor’s degree, you may substitute two years of fraud related professional experience for each year of academic study. For instance- if you attended the college full time for only two years, then you need additional 4 years of professional experience to meet the education requirements.

What are professional requirements?

You should have at least 2 years of professional experience in a field related to detection or deterrence of fraud at the time you are CFE certified. If you don’t have two years professional experience, then you can still take the CFE exam as long as you have a Minimum of 40  qualifying points. Once you have fulfilled your 50 points minimum and two years professional experience, you will be awarded the CFE Certificate.