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Certified Fraud Examiner (CFE)

Certified Fraud Examiner (CFE)

Course Overview:

 The Certified Fraud Examiner (CFE) is an internationally recognized certification offered by the Association of Certified Fraud Examiners (ACFE). It is designed for professionals specializing in fraud detection, investigation, and prevention. The CFE credential provides in-depth knowledge in fraud examination, legal proceedings, and how to implement measures to prevent fraud in organizations.

Duration:

  • The CFE course typically takes 6-12 months to complete, depending on the candidate's preparation and study schedule.

Syllabus (Section-Wise Breakdown)

The CFE exam consists of four sections:

  1. Section 1: Financial Transactions and Fraud Schemes

    • Overview of Fraud Schemes

    • Asset Misappropriation

    • Corruption

    • Financial Statement Fraud

    • Procurement Fraud

    • Cash Receipt Schemes

  2. Section 2: Law

    • Fraud-related Legal Principles

    • Rules of Evidence

    • Criminal and Civil Law

    • Rights of the Accused and the Victims

    • Legal Framework for Fraud Examinations

    • Court Procedures

  3. Section 3: Investigation

    • Investigation Methods

    • Interviewing Witnesses and Suspects

    • Fraud Detection Tools

    • Sources of Information and Documentation

    • Reporting Findings

    • Evidence Collection and Preservation

  4. Section 4: Fraud Prevention and Deterrence

    • Fraud Risk Management

    • Fraud Prevention Strategies

    • Ethical Considerations and Professional Standards

    • Corporate Governance and Accountability

    • Anti-Fraud Programs and Controls

Average Fees:

  • Registration Fee: USD 200 (INR 15,000 approx.)

  • Exam Fees: USD 400 (INR 30,000 approx.)

  • Total Average Fees: INR 45,000 - 50,000 (including registration and exam fees). Additional costs may apply for preparatory courses and materials.

Exams to Attend:

  • CFE Exam: The CFE exam consists of four sections: Financial Transactions, Law, Investigation, and Fraud Prevention and Deterrence. The exam is conducted online via the ACFE portal, and candidates must clear all sections to receive certification.

  • Eligibility: Candidates must have a minimum of a bachelor’s degree and two years of professional experience in a related field (accounting, auditing, criminology, law, etc.).

Top 10 Institutions in India for CFE Preparation:

  1. Miles Education, Pan-India

  2. EduPristine, Pan-India

  3. International College of Financial Planning (ICoFP), New Delhi

  4. Simandhar Education, Hyderabad

  5. Grant Thornton Academy, Mumbai

  6. IMS Proschool, Mumbai

  7. The Wall Street School, New Delhi

  8. ICAI Delhi Chapter

  9. Christ University, Bangalore

  10. BSE Institute Limited, Mumbai

Top 10 Institutions in Kerala for CFE Preparation:

  1. Miles Education, Kochi

  2. ICAI Cochin Chapter

  3. St. Teresa’s College, Ernakulam

  4. Rajagiri College of Social Sciences, Kochi

  5. Sacred Heart College, Thevara

  6. Institute of Internal Auditors, Kerala Chapter, Thiruvananthapuram

  7. MES College, Marampally

  8. VidyaBharathi Group of Institutions, Thrissur

  9. St. Albert’s College, Ernakulam

  10. Mar Ivanios College, Thiruvananthapuram

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