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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.
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Topics of ACFE CFE Certification Exam
Candidates must know the exam topics before they start of preparation. Because it will really help them in hitting the core. Our ACFE CFE exam dumps will include the following topics:
- Fraudulent Program Prevention Schemes
- Identity Theft
- Computer and Cyber Fraud
- Data and Scholarly Property Larceny
- Accounting Theories
- Commercial Document Fraud
- Cash-Receipts Schemes
- Locating Illicit Transactions
- Sources of Information
- Investigating Documents
- Conducting and Planning a Fraud Examination
- Imbursement and Disbursement Fraud
- Covert Examinations
- Insurance Fraud
- Report Writing
- Data Reporting Tools and Analysis
- Consumer Fraud
- Management Related Fraud
- Contract and Procurement Fraud
- Inventory and Other Properties
- Finance Organizational Fraud
- Digital Forensics
- Bribery and Corruption
- Medical Management Fraud
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Reference: http://www.acfe.com/details-of-exam.aspx
ACFE CFE Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Law | 25% | - Evidence and Rules of Evidence - Racketeer Influenced and Corrupt Organizations Act (RICO) - Rights of the Accused - Civil Law - Criminal Law - Legal Pitfalls for Fraud Examiners |
| Topic 2: Fraud Prevention and Deterrence | 25% | - Fraud Awareness Training - Fraud Risk Assessment - Internal Controls - Corporate Governance - Fraud Prevention Programs - Whistleblower Programs |
| Topic 3: Financial Transactions and Fraud Schemes | 25% | - Accounting and Financial Concepts - Asset Misappropriation - Fraudulent Financial Transactions - Fraud Schemes (billing, expense reimbursement, check tampering, etc.) - Financial Statement Fraud - Corruption Schemes (bribery, kickbacks, conflicts of interest) |
| Topic 4: Investigation | 25% | - Data Analysis and Forensic Accounting - Interviewing and Interrogation Techniques - Tracing Illicit Transactions - Evidence Collection and Documentation - Digital Forensics Basics - Report Writing |
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