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What is the duration, language, and format of ACFE CFE Certification Exam
- Format: Multiple choices, multiple answers
- Language: ACFE CFE offered in English (U.S.), Chinese (Simplified), Czech, Dutch, French, German, Hebrew, Italian, Japanese, Korean, Polish, Portuguese (Brazil), Russian, Spanish, and Turkish.
- Passing score: 75%
- Number of Questions: 500
- Length of Examination: 2.6 hours
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How to Prepare For ACFE CFE Certification Exam
Preparation Guide for ACFE CFE Certification Exam
ACFE CFE Certification: Tips to survive if you don't have time to read all the page
A certified fraud examiner (CFE) is an authority in the professional anti-fraud world. He stands out as a professional in the prevention, deterrence, and investigation of fraudulent practices. CFEs have skills that no other professional in the anti-fraud community can boast of. They combine complex accounting operations with a thorough understanding of legal issues, investigative skills and how to further discourage and prevent fraud. Therefore, these are the main criteria used by ACFE. ACFE provides the training and education necessary for an individual to become a certified fraud examiner.
The aim of these training courses and exams is to provide the CFE with the initial skills to detect signs of fraud, defend the global economy by discovering fraudulent practices and devise methods to avoid fraud. No organization in the world, regardless of its size, is safe from fraudulent practices. These workplace frauds are universal and destructive in nature.
According to a study conducted by the Report to Nations in 2016, small organizations tend to suffer extremely high losses compared to large organizations because they employ fewer anti-fraud professionals, which makes them vulnerable to the risks of fraud. Indeed, it is estimated that around 5% of the revenue lost due to fraud per year is due to fraud and work-related abuse.
Reference: http://www.acfe.com/details-of-exam.aspx
ACFE CFE Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Fraud Prevention and Deterrence | 25% | - Fraud Prevention Programs - Corporate Governance - Fraud Risk Assessment - Fraud Awareness Training - Whistleblower Programs - Internal Controls |
| Topic 2: Financial Transactions and Fraud Schemes | 25% | - Fraud Schemes (billing, expense reimbursement, check tampering, etc.) - Asset Misappropriation - Accounting and Financial Concepts - Corruption Schemes (bribery, kickbacks, conflicts of interest) - Fraudulent Financial Transactions - Financial Statement Fraud |
| Topic 3: Investigation | 25% | - Digital Forensics Basics - Data Analysis and Forensic Accounting - Evidence Collection and Documentation - Tracing Illicit Transactions - Interviewing and Interrogation Techniques - Report Writing |
| Topic 4: Law | 25% | - Evidence and Rules of Evidence - Criminal Law - Rights of the Accused - Racketeer Influenced and Corrupt Organizations Act (RICO) - Civil Law - Legal Pitfalls for Fraud Examiners |
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