ACFE Board of Regents adopts recommendations from working group

One of the duties of the ACFE Board of Regents is to ensure that members’ rules are relevant, fair and in accordance with the expectations of the professional anti-fraud community. In June 2016, the Board established an advisory working group of CFEs to advise it on a number of possible modifications or revisions to the ACFE rules of conduct for its members. The working group developed a list of recommendations and supporting arguments for the Board to consider.

After careful review of the recommendations, the Board proposed for comment several potential amendments to ACFE rules of conduct, including changes to the ACFE Bylaws, the Code of Professional Ethics, the Code of Professional Standards and the ACFE’s Guidance on the Code of Professional Standards.

The comment period for all CFEs in good standing is open from September 1 to October 31.

Here’s a summary of the proposed changes:

• Amend Section III(A)(2) of the Code of Professional Standards to require CFEs to investigate for “perceived” conflicts of interest prior to accepting a fraud examination, in addition to “actual or potential” conflicts.
• Update the Guidance on the Code of Professional Standards to provide examples of potential or perceived conflicts of interest that should be disclosed to the appropriate parties.
• Update the ACFE’s Guidance on the Code of Professional Standards to provide examples of permissible statements that wouldn’t violate the prohibition against ACFE members providing opinions of guilt or innocence.
• Amend Article II of the Code of Professional Ethics to clarify that members may not engage in “improper” conflicts of interest.
• Amend the ACFE Bylaws to require members to report misdemeanors involving moral turpitude or felony convictions within 30 days of the date of conviction.
• Amend the ACFE Bylaws to include a specific offense for engaging in fraud or deceit while attempting to obtain the CFE credential.
• Amend the ACFE Bylaws to require members to update their contact information within 30 days of it changing.

The entire text of the proposed changes can be found on the ACFE website. Submit comments to legal@ACFE.com or reply to the post on the subject in the online ACFE Community (titled “Call for Comment on Proposed Changes to ACFE Rules”).