In banks, corporations, and retail stores, a certified fraud examiner conducts expert investigations into possible illegal activity. He or she examines documents and conducts interviews with suspects in order to determine the specifics of a financial fraud claim. Furthermore, examiners initiate fraud deterrence and prevention programs to assist businesses in avoiding future issues. A certified fraud examiner may use another title, such as forensic accountant or internal auditor, or work under a different title.
The majority of certified fraud examiners work for private banks or corporations, but some work for private auditing firms, consulting firms, or government agencies. Furthermore, an experienced examiner may choose to work for themselves, providing contract investigative services to a variety of clients. In all work settings, the examiner’s responsibilities and goals are largely the same.
When company employees suspect or know that fraud has occurred, the examiner launches a thorough investigation. He or she looks into audit records, bank statements, e-mail correspondence, and other documents that could lead to the identification of a suspect. If there was a physical theft of money or assets, the examiner can review surveillance tapes and interview witnesses. He or she can compile a detailed report and contact the appropriate authorities after gathering facts. If a fraud suspect is charged, the examiner may be called to testify as an expert witness in court to describe the investigation and present relevant evidence.
To help prevent fraud, fraud examiners also conduct research and develop training courses and employee guidelines. They may recommend the installation of new surveillance technology or computer monitoring and tracking software to help deter criminals. Many examiners teach loss prevention workers, accountants, and business executives about the importance of consistent auditing and recognizing warning signs in seminars.
The Association of Certified Fraud Examiners (ACFE) is a non-profit organization that certifies new fraud examiners around the world. Completing education requirements, applying for ACFE membership, taking training courses, and passing an exam are all ways to earn certification. A bachelor’s degree or higher in accounting, pre-law, business administration, or another major related to finance is usually required to qualify for membership. In addition, two or more years of experience in auditing or loss prevention is usually required. A new certified fraud examiner can work in a variety of settings after meeting the prerequisites and passing the exam.