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Association of Certified Fraud Examiners
South Africa Chapter


The Certified Fraud Examiner
(CFE)

PREVENTION

DETECTION

DETERRENCE

INVESTIGATION

Certification
A core objective for the ACFE is to provide the worldwide market with credible and competent anti-fraud professionals. The key to the ACFE’s value is a single benchmark for all, a common pool of knowledge, a common set of principles and a united body.

ADVANCED CERTIFICATE: FRAUD EXAMINATION
SAQA accredited   |  NQF level 7  |  globally preferred by employers  |  locally and internationally recognised   |   benchmark


THE CERTIFIED FRAUD EXAMINER
an expert  |  a professional  |  a leader  |  competent  |  committed  |  credible


THE CERTIFCATE To become a CFE, an individual must pass a rigorous test on the four major disciplines that comprise the fraud examination body of knowledge:

  • Fraud Prevention and Deterrence
  • Financial Transactions
  • Fraud Investigation
  • Law


Taking the steps to become a Certified Fraud Examiner (CFE) will position you as a leader in the anti-fraud community and a specialist in the prevention and detection of fraud. Becoming a CFE requires specific qualifications and is achieved by passing the CFE Exam.

The CFE
CFEs are Leading the Fight Against Fraud Worldwide

Administered by the ACFE since 1989, the Certified Fraud Examiner credential sets the standard for excellence in the fight against fraud. The credential denotes proven expertise in fraud prevention, detection and deterrence. CFEs are trained to identify the warning signs and red flags that indicate evidence of fraud and fraud risk. CFEs around the world help protect the global economy by uncovering fraud and implementing processes to prevent fraud from occurring.

THE OCCUPATION
scarce skill  |  technical skill  |  critical skill

Fraud Examiner  Top 10 Priority/Scarce Skill  Top 10 Sectoral Priority Occupations for 2019/2020CRITICAL SKILL - Government Gazette 


THE CREDENTIAL
gold standard  |  locally and internationally recognised  |  demonstrates expertise  |  provides career choices  |  demonstrates skilled workforce  |  demonstrates insight into fraud trends

PROSPECTIVE CFEs MUST MEET
professional standards  |  educational standards  |  ethical standards  |  continued professional education requirements

 "...the CFE has emerged as the gold standard in the area of fraud.”
- A.E. Feldman, leading executive 

What is a scarce/critical skill in South Africa?

"an absolute or relative demand: current or in future; for skilled; qualified and experienced people to fill particular roles / professions, occupations or specialisations in the labour market."

Become a CFE and...

Advance your career: the CFE Designation is  documented evidence of expertise and experience, representing a high level of competence and professionalism.
Increases your earning potentialAccording to the 2010-2011 Compensation Guide for Anti-Fraud ProfessionalsCFEs earn nearly 34%t more than their non-certified colleagues.
Distinguish you from your colleagues: the CFE is an objective means of distinguishing yourself as a knowledgeable anti-fraud professional.
Improve your marketability and job security: the CFE is in demand: In a recent study by Robert Half International, a leading specialist in financial staffing, the CFE is listed as one of the most marketable credentials today.
Gain professional visibility and credibility: the CFE is accepted worldwide as the standard of professional excellence in the anti-fraud industry.
Demonstrate your knowledge and expertise: the CFE enables you to become a world class resource to your clients, colleagues and company.

DOWLOAD BROCHURE

CFE Creator
The ACFE International is the sole creator of the CFE course, the training material and the exam.

The CFE Credential


CFE Moderator
The ACFE SA is the CFE certificate training moderator in South Africa.

Contact Anita Nel for more information:

anita@acfesa.co.za


CFE Training Provider
The AFRICA Training Provider is the sole and exclusive training provider for the Advanced Certificate: Fraud Examination in South Africa. The AFRICA Training Academy is an authorised ACFE Training Provider.

AFRICA Training Academy Website

Contact the AFRICA Training Academy for more information:

training@africata.co.za


Certification 

The CFE Course consists of 4 modules:
Fraud Prevention and Deterrence  |  Financial Transactions  |  Fraud Investigation  |  Law


How to Become a CFE:
JOIN THE ACFE AS AN ASSOCIATE MEMBER

PREPARE FOR THE CFE EXAM

APPLY FOR THE EXAM

PASS THE EXAM


The Point System
 In order to be certified, a candidate must have a minimum of two years professional experience and 50 points. Points claimed for education must be from a recognised institution of higher learning. If an individual has more than 40 but less than 50 total qualifying points, they may apply to take the CFE Exam; however, certification will not be awarded until the individual has a total of 50 points or more and two years of professional experience. Points can be calculated online:

The Point System


SAQA Accreditation
Apply through the ACFE SA Chapter for the SAQA Certificate (NQF 7). Only available to ACFE SA Members.


CFE Requirements:

- Be an Associate Member of the ACFE in good standing
- Be of high moral character
- Agree to abide by the Bylaws and Code of Professional Ethics of the Association of Certified Fraud Examiners

Minimum Academic requirements:
- Generally, 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.

Minimum Professional requirements:
- At the time of certification, 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. For more information please visit: www.acfe.com

FAQs:

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.

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.

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.

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. 

Can I share my CFE Exam Prep Course with anyone?

No. The CFE Exam Prep Course is designed for a single user, not for transfer or resale.

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.

Why are CFE Candidate Recommendation Forms required with the application?

In order to maintain the high standards held by the ACFE and to ensure the integrity of the CFE credential, it is important to certify all candidates are of good moral character and a strong addition to the anti-fraud profession. Pick three individuals to complete these forms on your behalf. These individuals need to have worked with you professionally. For example, a past or current co-worker or supervisor.


What proof of education is required?

A photocopy of transcripts or certificates for any degrees earned and professional certifications acquired must be sent in along with your application. Translations will be required for any documentation not originally provided in English.

When can I take the CFE Exam?

You may take the CFE Exam any time during the year. When you have submitted your complete CFE Exam application and are prepared to take the CFE Exam you may request the exam. Your request for the CFE Exam will be fulfilled within 3-5 business days.

How much time will I need to take the CFE Exam?

It will take approximately 10 hours to complete the CFE Exam. Each section is allocated a maximum of 2.6 hours to complete. Each of the four exam sections has 125 questions and you will have a maximum of 75 seconds to answer each question.
You have 
30 days to complete all four sections of the CFE Exam and return it to the ACFE for grading. You must complete each section in one sitting, but you do not have to complete all four sections at once.

How does the CFE Exam Prep Course work?

The CFE Exam Prep Course focuses on four testing areas significant to the CFE Exam: Legal Elements of Fraud, Fraud Prevention and Deterrence, Financial Transactions, and Investigation Techniques. By providing typical exam questions, the program informs you whether your answer is correct and provides an explanation and study reference. The CFE Exam Prep Course contains 1,500 questions answers, and explanations.  When you have answered all questions correctly and consistently scored at least 85% or more on the practice test for each section, you will be ready for the exam.

If I decide not to study with the CFE Exam Prep Course, what are my other study options?

You can study on your own using the Fraud Examiners Manual and other additional reference materials. 

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