The Certified Fraud Examiner (CFE) credential is issued by the Association of Certified Fraud Examiners (ACFE). It is held by auditors, forensic accountants, compliance staff, internal auditors and investigators. It is not a license; no state requires it to practice.
This guide summarizes the requirements published by the ACFE as of November 2026 and explains how the credential fits next to the CPA license and the AICPA's Certified in Financial Forensics (CFF). The ACFE can change its rules, so the candidate handbook on acfe.com is the document to read before applying.
Who is the CFE for?
Anyone whose work involves preventing, detecting or investigating fraud. For a CPA firm that means audit staff who want deeper fraud-examination skills, forensic and litigation-support practitioners, and managers who handle fraud risk assessment under AU-C 240. The credential does not replace audit training and carries no attest authority.
How do eligibility points work?
The ACFE uses a points system built from education and fraud-related work experience:
- 40 points are the minimum to sit for the exam.
- 50 points are required to be certified.
- A bachelor's degree or equivalent from an accredited institution typically earns 40 points, with no required field of study.
- Without a degree, two years of fraud-related professional experience counts for each year of academic study. For example, two years of full-time college earns 20 points.
- At least two years of professional experience in a field related to fraud detection or deterrence is required by the time of certification.
A candidate with a degree can therefore take the exam with 40 points, before reaching two years of experience, but needs both 50 points and two years of experience to be certified.
Accepted experience categories include accounting and auditing, compliance and ethics, corporate security and loss prevention, fraud investigation, fraud prevention and risk management, fraud-related legal services and consulting, proactive fraud detection, and teaching, writing or researching on fraud topics. A role outside the list may qualify if the job includes preventing, detecting or investigating fraud.
Candidates must also be ACFE Associate Members and agree to the ACFE Code of Professional Ethics.
What is on the exam?
The exam has three sections, each a separate timed test:
| Section | Time | Questions |
|---|---|---|
| Fraud Schemes and Financial Crimes | 2.5 hours | 120 |
| Fraud Investigations and Legal Issues | 2.5 hours | 120 |
| Fraud Prevention and Deterrence | 1.5 hours | 70 |
That is 310 questions and 6.5 hours of testing in all, in multiple-choice and true/false format. Candidates may test online with remote proctoring, at a Prometric testing center, or, at the end of each day of an in-person ACFE exam review course, on paper. Once the application is approved and eligibility is activated, the candidate has 60 days to schedule and complete all three sections. Each section is scheduled separately and completed in one sitting. The score report is emailed within 24 hours.
The ACFE publishes current exam fees, the passing score and retake rules in the candidate handbook; they are not repeated here because they change.
What does the exam cover for an auditor?
- Fraud schemes: asset misappropriation, corruption and financial statement fraud, with the common ways each is committed. See embezzlement detection.
- Investigations and legal issues: evidence handling, interviewing, the legal framework for investigations and testimony. See forensic accounting.
- Prevention and deterrence: controls, fraud risk assessment and the role of ethics and culture. See the fraud triangle and tone at the top.
A CPA will recognize much of the prevention material from AU-C 240 and COSO; the investigation and legal content is the part with the steepest learning curve.
How do you keep the credential?
CFEs must earn at least 20 CPE credits in each yearly compliance period. Of those, at least 10 must relate directly to fraud detection and deterrence and 2 must relate directly to ethics. CPE requests for extension go through the ACFE's reporting page, and CFEs remain subject to the ACFE's membership and ethics requirements. Many CPE hours that a CPA earns for fraud-related courses can count for both, but the ACFE decides what qualifies.
CFE, CPA and CFF compared
| CFE | CPA | CFF | |
|---|---|---|---|
| Issued by | ACFE | State boards | AICPA |
| Nature | Credential | License | Credential for CPAs |
| Focus | Fraud prevention, detection, investigation | Accounting, audit, tax and attest | Forensic accounting, including litigation and damages |
| Basis | Points from education and experience; exam | Education, exam, experience (state-specific) | AICPA membership, CPA license or equivalent, exam, business experience and CPD within the last five years |
The CFE and CFF are not substitutes. The CFE signals fraud-examination training; the CFF signals forensic and litigation services within the CPA profession. Many forensic practitioners hold both. See the forensic accountant career guide.
Is the CFE worth it for a CPA firm?
It depends on the work. For a firm that performs fraud risk assessments, internal control reviews for nonprofits, or forensic work for lawyers and insurers, a CFE on staff supports the work and may help win it. For a firm that only does compilations and tax, it adds little. The cost is the application, membership and exam fees, study time and annual CPE, which the firm can compare with the revenue it expects.
Frequently asked questions
How many points do you need to take the CFE exam?
40 points, with 50 points needed for certification.
Can you take the CFE exam without a degree?
Yes. Without a degree, two years of fraud-related professional experience counts for each year of academic study.
How long do you have to finish the exam?
60 days from activation of eligibility to schedule and complete all three sections.
How many CPE hours does a CFE need each year?
20, including at least 10 related to fraud detection and deterrence and 2 related to ethics.
Is the CFE better than the CPA?
They measure different things. The CPA is a state license that authorizes attest services; the CFE is a credential in fraud examination. Neither replaces the other.
Sources
- ACFE, CFE Credential Eligibility, acfe.com/cfe-credential/eligibility
- ACFE, About the CFE Exam, acfe.com/cfe-credential/about-the-cfe-exam
- ACFE, CFE Continuing Professional Education Requirements, acfe.com/cfe-credential/continuing-professional-education-cpe-requirements
- AICPA & CIMA, Certified in Financial Forensics (CFF) credential, aicpa-cima.com
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AU-C references are to AICPA Professional Standards, paraphrased here; read the standard itself before relying on a requirement. This page is guidance, not professional advice. Report an error