[ISN] Why You May Want the CFE Designation

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. […]