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Glossary/Profession and credentials

Certified Fraud Examiner (CFE)

A Certified Fraud Examiner is a professional credentialed by the Association of Certified Fraud Examiners after meeting experience and education requirements and passing a four-section exam covering fraud schemes, law, investigation and prevention.

CORAA TeamUpdated November 5, 2026

Definition

The CFE credential is awarded by the ACFE. Candidates qualify through a point system based on education and professional experience, then pass an exam of four sections: Financial Transactions and Fraud Schemes, Law, Investigation, and Fraud Prevention and Deterrence. The ACFE requires a score of 75 percent or higher in each section. CFEs follow the ACFE Code of Professional Standards and maintain the credential with continuing education.

Why it matters in an audit or review

CFEs work in internal audit, compliance, forensic accounting firms and law enforcement. An audit team that brings in a CFE gets a specialist in fraud schemes and investigation, but the CFE credential is not a license. It does not allow someone to issue audit or attest reports, which requires a CPA firm.

Example

Illustrative: a CPA firm with a CFE on staff uses that person to design data tests for ghost vendors and to document an interview protocol when a client reports an embezzlement.

Common mistakes

  • Treating CFE as a substitute for a CPA license on attest work.
  • Confusing CFE with CFF, the AICPA's separate Certified in Financial Forensics credential.

Sources

Definitions paraphrase AICPA and FASB guidance; read the standard itself before relying on a requirement. Example figures are illustrative. This page is guidance, not professional advice. Report an error

Standards

ACFE Code of Professional Standards

Related terms

  • Fraud examination
    Fraud examination is a structured process for resolving fraud allegations, from predication through evidence gathering, interviews and reporting, as defined and taught by the Association of Certified Fraud Examiners.
  • Forensic accounting
    Forensic accounting is the application of accounting, auditing and investigative skills to disputes and suspected wrongdoing, producing findings usable in litigation, arbitration or internal investigations.
  • Fraud tree
    The fraud tree is the ACFE's classification of occupational fraud into three branches: asset misappropriation, corruption and financial statement fraud, each divided into specific schemes.
  • CPA (Certified Public Accountant)
    A CPA is an accountant licensed by a US state board of accountancy after meeting education, examination, experience, and ethics requirements; only licensees may issue audit and review reports in most states.

Go deeper

All glossary terms →

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