From The President

The value of the CFE credential is high and growing

 


Recent events on three continents illustrate that. In the U.S., our 2004 Compensation Guide for Anti-fraud Professionals is our first compensation study. Working with an independent research company to assure confidentiality, we surveyed 3,750 professionals with fraud-related responsibilities. The survey was limited to U.S. residents for comparability though we wish to add more countries in future.

The results are impressive. In most roles and levels of experience, CFEs earn significantly more than non-CFEs. The most tightly defined comparison is that of independent auditors, where audit seniors/supervisors who are CFEs earn an average compensation $8,000 higher than those who aren't. At the manager level the CFE premium is almost $10,000!

We'll perform an expanded survey in 2005. Help us make it better. Send your suggestions for additional analyses to
feedback@CFEnet.com.

In England, at the International Symposium on Economic Crime in September, I met with Brian Lamkin, chief of the Financial Crimes Section of the FBI, who is featured on the cover. In recognition of the value of the CFE training, Brian is proposing that the FBI formally recognize the CFE as an enhancing credential for hiring and promotion purposes. The U.S. Postal Inspection Service has already done this.

In Phoenix, Ariz., at the AICPA's forensic and litigation services conference in September, I met with Franco Frande, chief of the Audit Services Division at the Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF). I was delighted to learn that the ATF is also planning to support the CFE credential, which reflects the premier reputation we've earned.


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