Certified fraud examiners receive many benefits during their careers. They often earn more money and have more work stability than general accountants. A fraud examiner is required to ascertain the financial effect of the company’s actions in all sectors. A CFE’s objective is to ascertain the source, type, and extent of fraud inside a company. When determining these, the examiner must make judgments based on collected information. If you choose to accept work product evidence during your inquiry as an investigator, it is critical to understand that you will be obliged to reveal this information if questioned by an opposing party.
The certified fraud examiners’ objective is to evaluate whether a party’s activities comply with the Fair Debt Collection Practices Act. Once this is established, you will be asked to provide a suggestion to the business about how the debt should be handled. Certified fraud examiners are not permitted to offer recommendations to consumers on how to manage their debt. They are only permitted to present the facts they discover. If you hire a CFE, you’ll want to ensure that their findings are backed up by concrete data and a significant number of individuals who agree with the original conclusions.
What are the benefits of becoming a Certified Fraud Examiner?
Professionals with a CFE certification earn an average 25% higher salary compared to those without one. The certification fee can be recovered in just one year’s time and benefit those who hold the credential well into the future.
- Occupational safety:
With the U.S. economy is currently relatively stable but there is uncertainty about the future, it’s important professionals begin to prepare for the next recession by earning relevant certifications or advanced degrees. By possessing a skill set that employers value, certified fraud examiners are protected against economic downturns and layoffs.
- Establish Yourself as a Leader:
A human resources professional reviews thousands of resumes every day. Reading each resume, looking for relevant experience and qualifications, takes several seconds. Credentials make your resume more attractive to potential employers.
- Reduce the length of your job search:
Job hunts and full-time careers require the same amount of time. Most people rely on their savings for a while as they search for work in such cases. Having a certification makes it easier to gain employment faster and save more money than your peers.
Certified fraud examiners are recognized as valuable resources by more and more agencies as they hire them. The CFE certification is now mandatory for many agencies. You will be able to apply for additional jobs with higher salaries and promotion potential once you obtain this important certification.
Careers Available with CFE Training
It’s common for a CFE to do forensic accounting, employee theft investigations, and other tasks that root out fraud on the job, regardless of where they work.
The following careers are common for professionals with certified fraud examiner training:
- An audit consultant
- Officer of compliance
- Internal auditors or external auditors
- Analyst of financial markets
- Accounting for forensics
- Fraud analyst
- Investigations by a private investigator
- Risk manager
A Training and Certification Program
For certification by the Association of Certified Fraud Examiners (ACFE), the only requirement is passing the ACFE exam. For people seeking CFE certification, it is common to have a bachelor’s degree, an associate degree, or both, as well as fraud analysis work experience. The certification program for fraud examiners is available to those who attend MBA or business school programs.
A candidate for ACFE certification must have a minimum of two years’ experience in fraud-related fields. Direct investigations, accounting, and auditing can be part of the experience, as can combating white-collar crime in a criminal justice career, corporate loss prevention, and fraud litigation. The final step is to take and pass the CFE examination.
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