•  Certified Fraud Examiner (CFE) Skill Set
    skill-set.jpgThe CFE process focuses on four bodies of knowledge critical to the fight against fraud: Financial Transactions and Fraud Schemes, Law, Investigation, and Fraud Prevention and Deterrence. CFEs have the ability to:

    Understand how fraud is committed and how it can be identified;

    Examine books and records to detect and trace fraudulent transactions;

    Interview suspects to obtain information and confessions;

    Write investigation reports, advise clients as to their findings, and testify at trial; and 

    Understand the underlying factors that motivate individuals to commit fraud.

    What is the CFE credential?

    The Certified Fraud Examiner (CFE) credential denotes proven expertise in fraud prevention, detection and deterrence. CFEs are trained to identify the warning signs and red flags that indicate evidence of fraud and fraud risk.

    CFEs must pass a rigorous test on the four major disciplines that comprise the fraud examination body of knowledge: Fraud Investigation Methods, Financial Transactions and Fraud Schemes, Law, and Fraud Prevention and Deterrence. Candidates must have a minimum of two years’ professional experience in a fraud-related field and a minimum of 50 points. Points are based on a combination of academic achievement, professional certifications and licenses, and work experience.

    How do I maintain my CFE credential?

    CFEs must earn at least 20 hours of Continuing Professional Education (CPE) every 12-month period, pay annual membership dues and follow the ACFE Code of Professional Ethics and the ACFE Code of Professional Standards.

    What do CFEs do?

    Certified Fraud Examiners (CFEs) perform a variety of services in many different industries throughout all sectors of an organization. They are part accountant, part investigator, part attorney and part criminologist.

    Job Title Examples
    External Auditor
    Internal Auditor
    Forensic Accountant
    Audit Specialist
    Information Systems Auditor
    Audit Consultant
    Management Consultant
    Technical Specialist
    Financial Analyst
    Financial Specialist
    Special Agent
    Private Investigator
    Legal Investigator
    Security Consultant
    Director of Loss Prevention
    Fraud Analyst
    Fraud Investigator
    Risk Manager
    Tax Manager
    Bankruptcy Analyst
    Compliance Officer 


    Industries with Highest Percentages of CFEs 


    Public Accounting, Accounting, and Bookkeeping 

    Services Management Consulting


    Banking & Financial Institutions
    Insurance Carriers, Agents, Services


    State and Provincial
    Federal and National 


    Types of Services Performed 

    The types of services performed by CFEs vary based on the professional’s specific role and background. Services provided by CFEs can include:

    Examine records for fraud
    Investigating employee theft, corruption, conflicts of interest, insurance fraud and other types of misconduct
    Analyzing data, transactions and financial statements
    Examining documents and other records for signs of fraud
    Interviewing witnesses and suspects
    Writing reports
    Presenting investigation findings
    Testifying in court
    Providing litigation support
    Locating and recovering hidden assets
    Conducting background checks
    Reconstructing accounting records

    Compensation of Certified Fraud Examiners

    The ACFE's 2017/2018 Compensation Guide for Anti-Fraud Professionals is a comprehensive report on compensation for anti-fraud professionals in multiple industries, functional areas and levels of seniority. According to this guide, Certified Fraud Examiners (CFEs) are earning significantly more than  professionals without the CFE credential.

    This report, based on a global salary survey conducted by an independent research group, determined that professionals with the CFE credential earned 31 percent more in salary than professionals in comparable positions who do not hold the CFE.

    Visit ACFE.com/Compguide to learn more about how earning the CFE credential could impact your bottom line.