The national Association of Certified Fraud Examiners and parent to the Czech Republic Chapter was established in 1988 and based in Austin, Texas. The ACFE is the world's largest anti-fraud organization and premier provider of anti-fraud training and education. Together with more than 60,000 members, the ACFE is reducing business fraud world-wide and inspiring public confidence in the integrity and objectivity within the profession. Each member of the ACFE with a Certified Fraud Examiner (CFE) designation has earned certification after a rigorous qualification process.
Certified Fraud Examiners come from various professions, including auditors, accountants, finance professionals, fraud investigators, security and loss prevention specialists, attorneys, educators and criminologists. CFEs gather evidence, take statements, write reports, and assist in investigating fraud in its varied forms. CFEs are employed by many major corporations, government agencies, consulting firms and investigative service organizations.
The ACFE sponsors more than 160 local chapters worldwide. CFEs in over 140 countries on six continents have investigated more than 2,000,000 suspected cases of civil and criminal fraud.
Criminologist and former FBI agent Joseph T. Wells, CFE, CPA, is Chairman and founder of the ACFE, as well as an advisory member of the Board of Regents. Scott J. Grossfeld, CFE, CPA is Chief Executive Officer of the ACFE. Mr. Grossfeld assumed the leadership role of the organization in 2006 following his service as the ACFE's Chief Financial Officer. The ACFE serves its members with a staff of approximately 60 dedicated professionals in Austin, Texas.
The ACFE Mission
The mission of the Association of Certified Fraud Examiners is to reduce the incidence of fraud and white-collar crime and to assist the Membership in fraud detection and deterrence. To accomplish our mission, the ACFE:
- Provides bona fide qualifications for Certified Fraud Examiners through administration of the CFE Examination
- Sets high standards for admission, including demonstrated competence through mandatory continuing professional education
- Requires Certified Fraud Examiners to adhere to a strict code of professional conduct and ethics
- Serves as the international representative for Certified Fraud Examiners to business, government and academic institutions
- Provides leadership to inspire public confidence in the integrity, objectivity, and professionalism of Certified Fraud Examiners
The Profiles Series - The Association of Certified Fraud Examinersspotlights the efforts of CFEs as the first line of defense against corporate fraud and abuse. The Profiles Series was created to educate consumers and business professionals on the issues which impact them.
View the Video
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 around the world help protect the global economy by uncovering fraud and implementing processes to prevent fraud from occurring in the first place.
Setting High Standards for the Anti-Fraud Profession
To become a CFE, an individual must pass a rigorous test on the four major disciplines that comprise the fraud examination body of knowledge:
- Fraud Prevention and Deterrence
- Fraudulent Financial Transactions
- Fraud Investigation
- Legal Elements of Fraud
Prospective CFEs must also meet high professional, educational and ethical standards, as well as continuing professional education requirements.
Recognized as the “Gold Standard”
According to the 2008 Compensation Guide for Anti-Fraud Professionals, CFEs earn nearly 22 percent more than their non-certified colleagues.
In a recent study by Robert Half International, a leading specialist in financial staffing, the CFE is listed as one of the most marketable credentials today.
“Bringing staff with the CFE on board enables employers to develop a more skilled workforce. Professionals who earn and maintain this accreditation establish themselves as leaders in their field and gain insight into industry trends and best practices in the process” said DeLynn Senna, Executive Director of Finance & Accounting at Robert Half International.
A. E. Feldman, a leading executive search firm, states "… the CFE has emerged as the gold standard in the area of fraud".
The CFE credential is recognized in the hiring and promotion policies of leading organizations, including financial institutions, the FBI, the U.S. Department of Defense, and the Forensic Audits and Special Investigations Units of the U.S. Government Accountability Office.
CFEs are leading the fight against fraud worldwide.
Cynthia Cooper, the CFE who discovered the WorldCom fraud, has shared her inspiring story with professionals and students worldwide, through her book and personal appearances.
Harry Markopolos, the CFE who repeatedly attempted to alert the SEC to the Madoff fraud, testified before Congress on how to improve government regulation and oversight of the capital markets.
Scores of CFEs have written books to share their insight and expertise.
“Sad as it may seem, fraud will always take place wherever there is opportunity. The feeding frenzy of fraud will not abate unless fraud prevention is embraced and instituted at all levels of a company, especially in the executive suite” explains Martin Beigelman, CFE, Director of Financial Integrity for Microsoft Corporation in his book, Executive Roadmap to Fraud Prevention and Internal Controls: Creating a Culture of Compliance.
You can find more books by CFEs and other anti-fraud experts in the ACFE Bookstore. If you're ready to advance your career and position yourself as a leader in the anti-fraud profession, take the next step and become a CFE.