Why You May Want the CFE Designation

[InfoSec News <alerts () infosecnews org>]

http://www.accountingweb.com/article/why-you-may-want-cfe-designation/223584

By Terry Sheridan
Accounting Web
July 8, 2014

The Madoff Ponzi scheme, financial crisis of 2007-2009, ongoing mortgage 
fraud and other scandals, and laws like Sarbanes-Oxley and Dodd-Frank that 
were passed to counter the fraudsters, send a clear message: fraud 
investigation is a can't-miss career track and valuable expansion to an 
accounting or law practice or to the C-suite's bean counters.

Here's a little extra persuasion: According to the 2014 global fraud study 
by the Association of Certified Fraud Examiners (ACFE), the typical 
organization loses 5 percent of annual revenues to fraud—a projected 
global fraud loss of almost $3.7 trillion if the 2013 estimated Gross 
World Product is applied.

The median loss caused by fraud in the study was $145,000. And another 22 
percent of the cases involved losses of at least $1 million.

Most cases are reported in banking and financial services, government and 
public administration, and manufacturing sectors. The largest reported 
median losses, however, are in mining, real estate, and oil and gas 
industries, according to the study. There are clearly opportunities in 
many sectors.

[...]

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