ACFE Certified Fraud Examiner CFE Law

To earn your Certified Fraud Examiner (CFE) credential, you must pass the CFE Exam. This exam is designed to test your knowledge of fraud detection and deterrence, investigation, and other areas related to fraud examination. The exam consists of four sections: Financial Transactions and Fraud Schemes, Law, Investigation, and Fraud Prevention and Deterrence. Each section covers a range of topics, including but not limited to: accounting concepts, legal principles, interviewing techniques, money laundering schemes, and fraud risk assessment. The exam is administered by the Association of Certified Fraud Examiners (ACFE), a professional organization dedicated to the prevention and detection of fraud. By passing the CFE Exam and earning your CFE credential, you will have demonstrated your expertise in the field of fraud examination and will be well-equipped to help organizations prevent and detect fraud.

The CFE Exam requires a significant time commitment to prepare for and take. To gain an in-depth understanding of the exam content, format, and scheduling, explore the three sections provided.

The exam will test your knowledge in the four major areas of fraud examination — Financial Transactions and Fraud Schemes, Law, Investigation, and Fraud Prevention and Deterrence. These four areas correspond to the four sections of the Fraud Examiners Manual, which is the source of knowledge for all subject matter that appears on the CFE Exam.

This section tests your comprehension of the types of fraudulent financial transactions incurred in accounting records. In this section of the exam, you will be required to demonstrate knowledge of the following concepts:

Basic accounting and auditing theory

Fraud schemes

Internal controls to deter fraud

Other auditing and accounting matters

This section focuses on the statutes and common law principles involved in prosecuting fraudsters. It also ensures your familiarity with the many legal ramifications of conducting fraud examinations, including: 

Criminal and civil law

Rules of evidence

Rights of the accused and accuser

Expert witness matters

This section tests your understanding of the basic tools and techniques necessary to gather information and evidence when conducting a fraud examination and identifying perpetrators. It includes questions about:

Interviewing

Taking statements

Obtaining information from public records

Tracing illicit transactions

Evaluating deception

Report writing

This section examines your understanding of why people commit fraud and the ways to prevent it. Topics covered in this section include: 

Crime causation

White-collar crime

Occupational fraud

Fraud prevention

Fraud risk assessment

The ACFE Code of Professional Ethics 

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