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What is
the Association of Certified Fraud Examiners?
What is a
Certified Fraud Examiner?
Who
belongs to the Association of Certified Fraud Examiners?
How do I
become a CFE?
Where and how often is the CFE Exam offered?
Where can I find the Middle Tennessee Chapter
application form?
What are the continuing professional education
requirements?
What are the benefits of Chapter Membership?
How serious is the problem of fraud?
What is the Association of Certified Fraud Examiners?
The Association of Certified Fraud Examiners
is an international, 25,000-member, professional organization dedicated to
fighting fraud and white-collar crime. With offices in North America and
Europe - and chapters around the globe - the Association is networked to
respond to the needs of anti-fraud professionals everywhere.
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What is a Certified Fraud Examiner?
A Certified Fraud Examiner (CFE) is a
specialist educated and trained in the detection and deterrence of a wide
variety of white-collar crimes. All CFEs must meet the rigorous criteria for
admission to the Association of Certified Fraud Examiners. Thereafter, they
must exemplify the highest moral and ethical standards and must agree to
abide by the Association's Code of
Professional Ethics.
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Who belongs to the Association of Certified Fraud
Examiners?
Members of the Association specialize in
a wide range of fields, including fraud investigation; criminology; internal
and external auditing; loss prevention and security; forensic accounting;
law; law enforcement; investigation at the local, state, and federal levels;
education; and others, as well as students of these fields.
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How
do I become a CFE?
Becoming a Certified Fraud Examiner is
not an easy task. Only Associate Members of the ACFE can be eligible for certification.
To achieve the CFE designation, you must meet the following requirements:
·
Be
of high moral character
·
Meet
the minimum educational and experience requirements
·
Pass
the Uniform CFE Examination
·
Maintain
required Continuing Professional Education (CPE)
·
Pay
annual Association dues
·
Agree
to abide by the Bylaws
and Code of
Professional Ethics of the Association of Certified Fraud
Examiners
Further details on how to become a CFE
can be found by going to the Become
a Member page of the ACFE website.
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Where and how often is the CFE Exam offered?
The CFE
Exam was designed to be convenient for professionals with
hectic schedules. The entire exam is administered on your computer in your
own office or home from software that is mailed to you from the Association.
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Where can I find the Middle Tennessee Chapter
application form?
Click here for the application form (PDF
format).
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What are the continuing professional education
requirements?
CFEs must obtain a minimum of 20 hours
of Continuing Professional Education (CPE) every year to stay current in
their profession. CFEs are required to certify CPE compliance by the end of
their anniversary month either (1) online or (2) by calling a Member Services
Representative at (800) 245-3321 (USA & Canada only) or +1 (512)
478-9000. A CFE's anniversary month is the month membership is renewed each
year.
2010 CPE
Requirements
CFEs need to complete 20 hours of CPE
per 12-month period. At least 10 of these must relate directly to the
detection and deterrence of fraud. If a CFE has earned more than 20 CPE hours
of CPE in 2009, they may carry forward up to 10 of these extra hours to meet
their 2010 CPE requirements.
2011 CPE
Requirements
CFEs need to complete 20 hours of CPE
per 12-month period. At least 10 of these must relate directly to the
detection and deterrence of fraud and 2 hours must related
directly to ethics. If a CFE has earned more than 20 CPE hours of CPE in
2010, they may carry forward up to 10 of these extra hours to meet their 2011
CPE requirements.
Extensions of
CPE Compliance Deadlines
CFEs may request a
30-day extensions online. Visit http://www.acfe.com/maintaining-extensions.aspx
to request this extension.
Additional extentions
for CPE compliance may be granted for extenuating circumstances.
Circumstances that may qualify for an extension include loss of employment
and hospitalization. To apply for an extension, a written request may be sent
to the ACFE citing the special circumstances. Request may be sent by email to
cpe@ACFE.com.
(Source: http://www.acfe.com/maintaining-credential.aspx)
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What are the benefits of Chapter Membership?
Certified and associate members of the
Association of Certified Fraud Examiners are eligible for chapter membership.
Chapter membership costs $25 annually or $50 for three years. Members can
attend luncheons, which include one hour of CPE, for $10; the cost for
non-members is $15. Members are able to register for some training before the
general public. Membership includes two annual socials. One is a members only luncheon in December. The other is held on a
June evening. The member may bring a guest to the June Social.
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How serious is the problem of fraud?
According to the 2010 Report to
the Nations:
The Impact of
Occupational Fraud
·
Survey
participants estimated that the typical organization loses 5% of its annual
revenue to fraud. Applied to the estimated 2009 Gross World Product, this
figure translates to a potential global fraud loss of more than $2.9
trillion.
·
The
median loss caused by the occupational fraud cases in our study was $160,000.
Nearly one-quarter of the frauds involved losses of at least $1 million.
·
Small
organizations are disproportionately victimized by occupational fraud. These
organizations are typically lacking in anti-fraud controls compared to their
larger counterparts, which makes them particularly vulnerable to fraud.
(Source: http://www.acfe.com/rttn-highlights.aspx.)
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