The CFE process focuses on four bodies of knowledge critical to the fight against fraud: Financial Transactions; Investigation, Law, and Criminology. CFEs have the ability to:
Understand how fraud is committed and how it can be identified;
Examine books and records to detect and trace fraudulent transactions;
Interview suspects to obtain information and confessions;
Write investigation reports, advise clients as to their findings, and testify at trial; and
Understand the underlying factors that motivate individuals to commit fraud.
What do CFEs do?
Certified Fraud Examiners (CFEs) perform a variety of services in many different industries throughout all sectors of an organization. They are part accountant, part investigator, part attorney, and part criminologist.
Job Title Examples
Information Systems Auditor
Director of Loss Prevention
I ndustries with Highest Percentages of CFEs
Public Accounting, Accounting, and Bookkeeping
Services Management Consulting
Banking & Financial Institutions
Insurance Carriers, Agents, Services
State and Provincial
Federal and National
Types of Services Performed
Examine records for fraud
Present investigation findings
Testify in court
Conduct background checks
Investigate employee theft
Conflict of interest investigations
Insurance claim investigations
Financial statement analysis
Locate hidden assets
Reconstruct accounting records
Review of financial statements
Compensation of CFE Professionals
According to the 2008 Compensation Guide for Anti-Fraud Professionals, the CFE credential correlates with significantly increased levels of compensation. On average, CFEs participating in the survey earned nearly 22% more than someone without the CFE distinction.