The CFE or the Certified Fraud Examiner credential is recognized globally. It is awarded by the ACFE or the Association of Certified Fraud Examiners.
What CFE Credential Epitomize in South Africa?
CFE South Africa is an excellent way to demonstrate the individual’s expertise in preventing, detecting and investigating fraud.
Whether you are employed in finance, auditing, law enforcement or compliance, becoming a CFE is opening the door to specialized career opportunities.
Guide on How to Apply for CFE Credential in South Africa
- Eligibility Requirements: Before applying for the credential, you must meet the following basic eligibility criteria. An individual must have a bachelor’s degree or equivalent and in some cases, work experience can substitute for lack of academic qualifications. They must have professional experience of at least two years in auditing, accounting, criminology, loss prevention or law. The person must be of high moral character. A background check of the individual is part of the application process.
- Join ACFE: Only the members of ACFE can apply for the CFE exam. The applicant can join online through their website or through the ACFE South Africa Chapter. The membership provides access to exclusive resources, study materials and discounts on exam prep tools.
- CFE Exam Preparation: The CFE exam in South Africa tests knowledge in four areas prevention and deterrence of fraud, financial transactions and fraud schemes, investigation methods and legal elements of fraud. The CFE Exam Prep Course offered online or as a self-study package helps you in thorough preparation. The ACFE South Africa Chapter also hosts workshops and boot camps to help the aspirants succeed in their exams.
- Submit the CFE Application: Once you are ready to take the exam, you must apply. The application includes the CFE Exam Application form, education proof, documentation of professional experience, three professional references and exam fee payment. The candidates can directly submit the application form and the documents through the ACFE website. Approval takes a few weeks.
- Pass the CFE Exam: The CFE exam consists of four sections that you can take individually or all at once. A minimum score of 75% is required for passing each section. Once all the sections are completed successfully, the candidate will earn the CFE credential.
- Get Certified and maintain the Credential: After clearing the CFE exam and meeting all the requirements, the individual will be officially awarded the Certified Fraud Examiner Designation. To maintain the certification the individual must be an active member of the ACFE. They must earn at least 20 continuing professional education hours annually. Also, they must follow the CFE code of professional ethics.
Achieving CFE certification in South Africa is a valuable step in enhancing your career prospects and credibility in the field of fraud examination. With the right preparation and guidance, one can join the respected network of professionals committed to fighting fraud worldwide.