ASSOCIATION OF CERTIFIED FRAUD EXAMINERS

SOUTH AFRICAN CHAPTER

Certification Requirements

NOTE:

  • As of December 31, 2007, the Waiver of the CFE Exam was closed for all countries. From January 1st, 2008, a candidate can earn the CFE designation only by taking an examination.
  • The CFE Exam and Prep Course is available in the following versions: US, Canadian, International, Japanese and UK. It is recommended that South Africans write the International Exam as it also holds an SAQA NQF 7 level and, we believe, sets the international standard.

To apply for the the CFE Exam, you must meet the following requirements:

  • Be an Associate Member of the ACFE International in good standing
  • Agree to abide by the Bylaws and Code of Professional Ethics of the Association of Certified Fraud Examiners
  • Be of high moral character
  • Meet minimum Academic requirements – Generally, applicants for CFE certification have a minimum of a Bachelor’s degree (or equivalent) from an institution of higher learning. No specific field of study is required. If you do not have a Bachelor’s degree, you may substitute two years of fraud-related professional experience for each year of academic study. For example, if you successfully attended college full-time for only two years, you would need an additional four years of professional experience to qualify for the education requirements. An applicant has to have at least 40 points to qualify for the exam. E.G.: You get 5 points for every year of work experience and 10 points for every year of college completed.
  • Meet minimum Professional requirements. At the time you are certified, you must have at least two years of professional experience in a field either directly or indirectly related to the detection or deterrence of fraud. The Board of Regents has established the following categories as acceptable fraud-related experience:
    • Accounting and Auditing: You may qualify if you have experience as an accountant or auditor (e.g., internal or external auditor), and have certain responsibilities for the detection and deterrence of fraud by evaluating accounting systems for weaknesses, designing internal controls, determining the degree of organisational fraud risk, interpreting financial data for unusual trends, and following up on fraud indicators.
    • Criminology and Sociology: Only those professionals with education or research in the fraud and white-collar crime dimensions of sociology or criminology may claim experience under this category. An experienced background in general sociological field is insufficient.
    • Fraud Investigation: Experience in the investigation of civil or criminal fraud, or of white-collar crime for law enforcement agencies or in the private sector, qualifies. Examples include federal, state, or local law enforcement (e.g. IRS, inspectors general, and district attorney investigators). Insurance fraud investigators and fraud examiners working for corporations, businesses, or associations qualify as well.
    • Loss Prevention: Security directors for corporations and associations who deal with issues of loss prevention may claim this experience as credit. Security consultants dealing with fraud-related issues also are eligible. Experience as a security guard or equivalent is not acceptable.
    • Law: Candidates with experience in the legal field might qualify, provided the experience deals with some consideration of fraud. Examples include prosecuting lawyers, fraud litigators, and others with an anti-fraud specialisation.
    • If your experience does not fall into one of the above categories, but your responsibilities include the detection, investigation, or deterrence of fraud, you may submit your application and fee along with a detailed description of your background.

Requirements FAQ:


How do I know if I am eligible to become a CFE?

Qualifications for becoming a CFE include having high moral character and meeting minimum professional and academic requirements.

I already hold other certifications. Does this qualify me as a CFE as well?

No. The Certified Fraud Examiner (CFE) is a unique credential with its own requirements and standards. Your other certifications will be counted as part of the qualifying points system but will not automatically make you a CFE.

Who sets the standards for CFE certification?

The standards are set by the ACFE’s Board of Regents, who are elected by CFE members and drawn from our most experienced members.

Is the CFE credential acknowledged globally?

Yes. The CFE credential is acknowledged globally and preferred by employers. Becoming a CFE immediately sets you apart from the competition and launches you to the top of your profession.

Do other entities offer the CFE certification?

No. CFE certification is a unique aspect of the ACFE.

What do you mean when you ask about “fraud-related experience”?

Fraud-related experience means that you have worked full-time in a position that contributes to the prevention, detection or deterrence of fraud. Fields related to fraud include: Accounting and Auditing, Criminology or Sociology, Investigation Techniques, Loss Prevention and Law. If you are unsure if your experience qualifies, please submit a brief summary with your application for review or click here for a more detailed explanation of the necessary qualifications

I want to attain the CFE certification but I don’t have two years experience. Can I still take the exam?

Yes. You can study for and take the CFE Exam even if you do not have two years of practical experience, as long as you reach the 40 point minimum on Section 2 of the exam application. However, please note that you will not become officially certified until you do have at least two years of practical experience either directly or indirectly related to fraud. Click here for full details.

If I attend ACFE conferences or seminars, do I get additional points towards becoming a CFE?

No. ACFE conferences, seminars and self-study courses will provide you with Continuing Professional Education (CPE) credits, but will not affect the exam point system of becoming a CFE.

Who Qualifies to receive the SAQA NQF Level 7 Certificate?

Only those who have successfully completed the ACFE’s International CFE exam after 1 January 2008 and are current members of the ACFE SA Chapter.

ACFE, Association of Certified Fraud Examiners, CFE, Certified Fraud Examiner, the ACFE Seal and the ACFE Logo are trade marks exclusively owned by the Association of Certified Fraud Examiners, Inc.

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