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The Association of Certified Fraud Examiners (ACFE) is a global organization dedicated to the prevention and detection of fraud. As part of their mission, the ACFE offers various training programs, conferences, and certifications for professionals in the anti-fraud field. One of their most prestigious certifications is the Certified Fraud Examiner - Financial Transactions and Fraud Schemes (CFE-FTFS) exam.
ACFE CFE-Financial-Transactions-and-Fraud-Schemes Exam is a comprehensive exam that covers a wide range of topics related to financial transactions and fraud schemes. CFE-Financial-Transactions-and-Fraud-Schemes exam is divided into four sections, each of which is designed to test the candidate's knowledge and skills in a different area of fraud examination. These areas include financial transactions and fraud schemes, investigation techniques, legal elements of fraud, and fraud prevention and deterrence.
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| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Other Fraud Schemes | 10–15% | - Insurance fraud - Identity theft and financial crimes - Healthcare fraud - Theft of data and intellectual property - Procurement and contract fraud |
| Topic 2: Basic Accounting and Auditing Concepts | 15–20% | - Auditing standards and procedures - Fundamental accounting principles - Financial statement components and relationships - Internal control frameworks and objectives |
| Topic 3: Asset Misappropriation – Fraudulent Disbursements | 15–20% | - Billing schemes - Expense reimbursement fraud - Electronic payment tampering - Payroll fraud schemes - Register disbursement fraud |
| Topic 4: Asset Misappropriation – Inventory and Other Assets | 5–10% | - Prevention and detection controls - Inventory theft and misuse - Concealment of asset shrinkage |
| Topic 5: Internal Control and Fraud Prevention | 10–15% | - Fraud risk assessment - Control testing and evaluation - Design of anti-fraud controls |
| Topic 6: Financial Statement Fraud | 10–15% | - Financial statement analysis techniques - Asset and liability misrepresentation - Improper disclosures - Revenue recognition schemes |
| Topic 7: Corruption Schemes | 5–10% | - Prevention and detection strategies - Illegal gratuities and extortion - Bribery and kickbacks - Conflicts of interest |
| Topic 8: Asset Misappropriation – Cash Receipts | 5–10% | - Cash skimming schemes - Cash larceny - Prevention and detection methods |
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