One may think that CFE certification makes the fraud professional superior, but they do not realise the hard work behind it. Being a fraud professional is a lifelong learning process, as the professionals stay up to date with the latest laws and regulations that govern their field. CFEs possess expert accounting skills and in-depth knowledge of different types of frauds and fraud risk faced by companies.
Earning a professional certification makes the fraud examiner filled with pride, but with the professional certificate comes the great responsibility of protecting the company from fraud. With superior power, CFEs often enjoy many benefits throughout their careers as higher salaries and increased job security.
Take the 5 simple steps to achieve the CFE certification in 4 weeks with the CFE Exam Review Course. The ACFE authorised trainers in India will guide and train the delegates with 32 hours of dedicated meeting room training on core subjects, fine-tuned with the examination pattern.
The 5 simple steps are:
Join the ACFE as an Associate Member
You must be a member to take the CFE exam and earn CFE credentials. When a candidate enrols with Netrika Consulting, they are provided with the administration support for the complete process.
The associate membership is open to individuals of all job functions, industries, and levels of experience. It is for all the individuals who are interested in the prevention, detection, and deterrence of fraud.
Becoming an associate member is the first step in the journey of becoming a CFE as only ACFE members can become CFEs. ACFE (Association of Certified Fraud Examiners) is accepted worldwide as the standard of professional excellence in the anti-fraud profession.
There are three categories to avail of associate membership, i.e., associate, educator associate, and student associate. The associate category is open to individuals interested in the prevention, detection, and deterrence of fraud and fraud-related activities, all the professionals who wish to learn and fight fraud.
Determine if you are eligible based on academic & professional qualifications
To become a CFE, you must be an associate member of the ACFE and meet the academic and professional requirements. With high moral character and agree to abide by the bylaws and code of professional ethics of the ACFE.
The applicants for CFE certification should have a minimum of a bachelor’s degree (or equivalent) from an institution of higher learning. Without a bachelor’s degree, the candidate may substitute it with 2 years of fraud-related professional experience for each year of academic study. Let’s say, you have successfully attended college full time for two years, so you need an additional four years of professional experience to be qualified with the educational requirements.
When it comes to professional requirements, the candidate must have at least two years of professional experience in a field either directly or indirectly related to the detection or deterrence of fraud. If the candidate does not have two years of professional experience, he/she requires a minimum of 40 total qualifying points to take the CFE exam. With 50 minimum points and two years of experience, the candidate will be awarded the CFE credential.
Prepare for the CFE exam
Prepare for the CFE exam. The CFE Exam will test the candidate’s knowledge in the four major areas, i.e., Financial Transactions and Fraud Schemes, Law, Investigation, and Fraud Prevention and Deterrence. There are three ways to prepare for the CFE Exam, the candidate can either study with the CFE exam prep course, attend the CFE exam review course, or study on their own using the fraud examiners manual.
CFE exam prep course
The CFE exam prep course is a computer-based training, guiding the candidates in their CFE exam preparation. Study questions and practice exams are included to prepare the candidate and pass the rigorous CFE Exam. The self-study computer program will help the candidates prepare with a pre-assessment, questions with immediate feedback and direct links to source materials in the digital format for the learning of the candidates.
The candidates get to upgrade the CFE exam prep toolkit to get everything that comes with the prep course, a printed fraud examiners manual, study guide, and a flashcard app. With the CFE exam prep course, the candidate can upgrade to the on-demand CFE exam review course to cover everything on the prep course plus 20 hours of on-demand video of the instructor to guide through the important concepts and a supplemental workbook to help in focusing the study efforts. The fraud examiner manual contains the anti-fraud profession’s body of knowledge. The manual is economical but requires time and dedication from the candidate.
CFE exam review course
The CFE exam review course is an advanced course to prepare the candidates, check on their requirements and deadlines, and help them with the CFE exam. Anyone who prefers learning in an instructor-led setting and needs to understand concepts and exam pattern better should avail of the CFE exam review course.
Candidates benefit from the structured learning procedure and learn how to prepare for the CFE exam, usually it may take CFE aspirants from 3-6 months to prepare and appear for the CFE exam. With the CFE review course, participate will be given rigorous 4-weeks preparation period with mock tests and interactive learning sessions for each module and they are advised to take the exam can be by end of each session. This instructor-led dedicated training by Netrika has helped 99% of the participants to clear the CFE exam with flying colours.
The candidates meet other candidates preparing for the CFE Exam and authorized CFE instructors to help them organise study sessions to` review materials. This course will allow participants to confidently clear the CFE exam without any hassles.
Fraud Examiners Manual
The fraud examiners manual is a definitive body of knowledge for the anti-fraud professionals looking to study on their own, it is comprehensive guide of 2000+ pages. The online availability of the fraud examiners manual makes it more useful to the candidates. The candidates can access the most up-to-date anti-fraud information in real-time with the expanding collection of country and region-specific information. The candidate can access it on any internet-connected device.
Apply for the CFE exam
After preparing for the exam, the candidate must apply for the CFE exam with documentation to take the CFE exam. Submit the supporting documents required to complete your CFE exam application and pay the exam fees.
Follow rules and Pass the CFE exam
The CFE exam tests the knowledge and expertise in the four primary areas of fraud examination: Financial Transactions & Fraud Schemes, Law, Investigation, and Fraud Prevention & Deterrence. The candidate who clears all these areas gets the CFE certification.
The CFE Exam is administered online via computer, containing four sections. The CFE exam is a closed book and closed note exam and can be taken at a time convenient for the candidate. No two exams are the same and the exam has several controls to ensure integrity.
To take the CFE exam, the delegate requires windows 7, windows 8.1, windows 10, max OS X 10.6 or above, screen resolution of 1280*1024 or greater, high-speed internet, ability to download web browser extensions, web camera, and microphone.
The rules to take the CFE exam are:
- Have an approved CFE exam application
- 30 days from receiving the exam key(s) to take all the exam sections
- Take each exam section within 24 hours of unlocking it
- Complete a section of the exam in one sitting
- Not required to complete all sections in one sitting. It is recommended to take one or two sections at a time.
- Request the exam key from the exam dashboard
After the candidate completes a section of the CFE Exam, the exam section will automatically submit when the candidate chooses End Exam.
CFEs must earn at least 20 hours of Continuing Professional Education (CPE) every 12 months, pay annual membership dues and follow the ACFE Code of Professional Ethics and the ACFE Code of Professional Standards. With the review course, the candidate earns 20 CPE credits along it.
With a certified fraud examiner certificate, the candidate uncovers, prevents, and deter frauds. The CFEs work for the local, state, and federal governments.
So are you ready to enrol for the CFE certification course?