What is the CFE certification?
The CFE certification or Certified Fraud Examiner is a qualification issued by the Association of Certified Fraud Examiners (ACFE) that proves that the holder is skilled in the field of Fraud Examination. This means that they are experts at investigating different financial situations to identify fraudulent activities and then build systems and controls that prevent financial fraud in the future. CFE designation holders can be of great help to an organization since they help their organizations prevent embezzlement, insurance, and other financial frauds that cause companies to lose large amounts of finance.
Studies conducted by the ACFE show that organizations that employ CFEs have almost 60% fewer losses from fraud than organizations that don’t employ CFEs. This is why Certified Fraud Examiners are essential to organizations. However, to attempt the CFE exam and become a Certified Fraud Examiner, candidates will first have to meet the educational and work experience requirements. Visit our website to know more about the CFE eligibility requirements and if you meet them. Candidates can then attempt the CFE exams and receive the certification once all requirements have been met. However, some might wonder, is the Certified Fraud Examiner certification worth it?
Benefits of Becoming a Certified Fraud Examiner
Although the Certified Fraud Examiner qualification like any other certification course requires time and effort on the part of students to gain the qualification, it also provides a range of benefits to the holder which we have discussed below in detail:
1. Develop your knowledge base and professional skills.
The Certified Fraud Examiner program covers a range of topics that are relevant to the field of fraud examination and financial fraud. This course syllabus includes topics on the different types of fraud and how they’re carried out, the internal controls that help deter financial fraud as well as different investigative techniques to help identify fraudulent schemes. In addition to this, candidates are also introduced to the relevant laws concerning fraud and the proper legal practices and processes that must be followed. Along with this, candidates must also develop their standards for professional ethics through the Certified Fraud Examiner Code of Professional Ethics. All these course modules help develop the skills and knowledge of candidates and help them evolve into experts in fraud detection and prevention. Along with this, candidates’ membership in the ACFE also provides them with access to their “Fraud Magazine” and other resources that keep candidates up to date with the latest fraud practices and prevention measures. This Certified Fraud Examiner program is an excellent method of increasing your professional knowledge and qualifications to become an expert in this field.
2. Access to higher salaries and better job prospects
Since CFE credential holders are highly learned and skilled with respect to investigating fraudulent activities and developing internal controls that prevent an organization from falling for fraudulent schemes, they are also paid in kind. A study by the ACFE shows that CFE designation holders earn 17% more than non-CFE certification holders. Due to the crucial responsibilities and duties that fraud examiners have in an organization, gaining a professional qualification from the Association of Certified Fraud Examiners, the largest anti-fraud organization in the world shows your expertise to employers and therefore provides access to better job prospects for CFE designation holders. ACFE members also gain access to a job portal and career center which helps with providing opportunities for Certified Fraud Examiners in forensic accounting and other fields. Because of the critical role that Certified Fraud Examiners play in an organization, gaining certifications from a reliable 3rd party like ACFE that specializes in anti-fraud practices and processes leads organizations to have more faith and trust in CFE certification holders and therefore handover more responsibilities over to them. As a result, Certified Fraud Examiner designation holders also find themselves in a better position to negotiate higher salaries and promotions within their organization.
3. Meaningful work with high job satisfaction
As globalization increases and technologies facilitate knowledge sharing across the globe, criminal and terrorist activities are also increasing, funded by illegally obtained funds. Certified Fraud Examiner designation holders can prevent criminal activities by cutting off their funds and increasing the difficulty level for obtaining funds by scamming individuals and organizations. They ensure that their organizations have well-placed internal controls that prevent any party from taking advantage of company resources for their benefit. Studies show that organizations that employ CFEs are able to uncover fraud 50% faster than those without CFEs. In this way, they help maintain law and order in society. Certified Fraud Examiners also cooperate with law enforcement to provide legal counsel or testimony and may become private investigators after gaining additional certifications. Therefore, gaining the Certified Fraud Examiner qualification gives professionals a high degree of satisfaction because of the significant role they play in the ongoing management of their organization and society.
4. Gain professional credibility and improve your reputation among peers.
Gaining your CFE designation from ACFE (Association of Certified Fraud Examiners), the largest anti-fraud organization in the world, sets you apart from the crowd. With this certification, candidates can showcase the full extent of their skills and experience in the field of fraud examination with peers and colleagues. This builds trust among colleagues in your professional capabilities and ability to handle complex fraud cases as well as improves your credibility among peers.
5. Networking opportunities
ACFE is the largest organization in the world that fights against fraudulent activities. Becoming a member of this organization (a prerequisite for gaining the CFE certification) gives candidates access to a wide variety of resources that can be helpful in whichever industry they work in. This includes access to other CFE members for networking or work collaborations. Keeping your CFE certification also requires Continuing Professional Education (CPE) which involves live webinars and in-person events that cover the latest trends and best practices in fraud prevention. These events are also great opportunities to network and make connections with other expert individuals in your industry or field.
To conclude, there are several benefits of being a Certified Fraud Examiner which we have discussed above in detail and therefore encourage professionals to pursue the CFE designation. Accomplishing your CFE certification is made easy through Certified Fraud Examiner online courses. Not only does a Certified Fraud Examiner online training program provide flexibility for working professionals, but it also supports candidates while studying for the CFE exam with doubt-clearing sessions and expert instructors. Join our < ahref=”https://edudelphi.com/online-certified-fraud-examiner/#details”>Certified Fraud Examiner course and become a fraud examination expert after gaining the CFE certification.