CFE : Worth It ?

Viewing 5 posts - 1 through 5 (of 5 total)
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  • #2205889
    QueenCPAQueenCPA
    Participant

    Hi Everyone,

    Curious if we have any CFEs on this platform or anyone studying to get the CFE certification. I work with a Big 4 now and they will definitely pay for it, I am thinking of taking advantage of it and taking the exam.

    On the other hand, I have passed both CPA & CMA and wondering if the CFE will add any additional advantages or benefits?

    Thank you

     

    "And may the Lord our God show us his approval and make our efforts successful .Yes, make our efforts successful"

    Amen 🙂

    #2206063
    Myredstapler
    Participant

    So that really depends on what your career objectives are. I work in audit and thus have a cisa cpa and cia. I do not intend to go into accounting and therefore a cma isn’t a goal. Just depends on where you see yourself.

    #2206522
    Crissy
    Participant

    I agree with @Myredstapler in that it depends on what your career objectives are. Also, if you work in audit I would say it could be beneficial to have. I work in fraud investigations and have my CFE and have found it beneficial although many of my peers do not have it. I decided to get the CFE to help set me apart of other candidates early on in my career, but also obtained it because I have always known I wanted to focus on fraud and found the material very interesting. FYI if you read through the prep materials, the CFE exam isn't difficult.

    #2209621
    irishA
    Participant

    I agree with the others, if you career plan to go into forensics or fraud investigations I would suggest getting your CFE. I earned the CFE as my first certification. The association has a bunch of fraud resources available that definitely made it worth it (mentor program, case studies, forums, sample documents, etc.). I personally like the forum since you can get input from multiple types of professionals (lawyers, law enforcement, PIs, loss prevention, and accountants).

    The exam is not difficult if you do the practice questions, probably took me about 2.5 months to study and pass the exam. The exam has 4 sections, each with 125 multiple choice questions. The exam is much more flexible than the CPA exam, since you can take it anywhere as long as you have a proctor. Maintaining the certification is relatively easy. There's an annual fee (I think about $175), and you need 20 CPE hours per year (which you're probably already doing for your CPA requirements).

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    #2210767
    rugger246
    Participant

    I echo what many have said here. What is the purpose for getting the CFE? If you want to work fraud examinations I think it is worth it. If you are just getting it to add on to the end of your name in order to collect an alphabet soup of designations then probably not so much. The cost of test material, yearly dues, and CPE may not be worth it in the long run, unless you want to steer your career to that type of work.

    Me personally, my two primary certifications are the CPA and CFE. I work exclusively fraud examinations and these are both good enough for me.

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