Are you preparing for the CFE exam?

What is a CFE exam?

 To earn the credential of Certified Fraud Examiner, you must pass the CFE exam. A CFE exam in South Africa is a significant undertaking. It requires a hefty time commitment as you prepare for and take the exam.

 If you are preparing for the CFE exam in South Africa, you will need to know the content of the exam-

The exam will test the knowledge in four significant areas of fraud examination – Financial transactions, fraud schemes, law, investigation, and fraud prevention and deterrence. 

1.       Financial transactions and fraud schemes: The section tests your comprehension of the fraudulent financial transactions incurred in accounting records. The examinee has to demonstrate knowledge. 

·         Basics of accounting and audit concepts
·         Fraud schemes
·         Internal controls to deter fraud
·         Other auditing and accounting matters

2.       Law: The section focuses on the statutes and common law principles in prosecuting fraudsters. It ensures your family with the legal ramifications of conducting fraud examinations, including

 ·         Criminal and civil law
·         Rules of evidence
·         Rights of the accused and accuser
·         Expert witness matters

3.       Investigation: It tests your understanding of the primary methods required to gather information and evidence when conducting a fraud examination and to identify perpetrators. It includes questions about

 ·         Interviewing
·         Taking statements
·         Obtaining information from public records
·         Tracing illicit transactions
·         Report writing
·         Evaluating deception

4.       Fraud prevention and Deterrence: It examines the understanding of why

people commit fraud and the ways to prevent it.

 ·         Crime causation
·         White-collar crime
·         Occupational fraud
·         Fraud risk assessment
·         Fraud prevention
·         ACFE code of professional ethics

 What are the CFE exam format options?

 1.       Online test with a remote proctor: Online remote proctoring allows you to appear for the CFE exam from any place convenient to the examinee.

2.       In-person at Prometric testing centre: Prometric operates the world’s largest computer-based assessment centre network, providing easy access to examinees.

 Importance of the CFE exam

 Through the CFE exam, you will access world-class anti-fraud training and resources via the Association of certified fraud examiners. This enables the individual to build and maintain expertise and stay informed about the latest trends and best practices.

 Benefits of the CFE course

 The three letters CFE is recognized all over the world. The advantage of this course accrues to both the professional and general economy.

1.       Increase your earnings
2.       Advance your career
3.       Enhance your marketability and job security
4.       Gain professional visibility and credibility
5.       Stand ahead of the peers
6.       Self Adequacy and happiness

     Wrap up

 The CFE exam is a source of bragging rights for professionals working in environments that need the knowledge to examine fraud.