Startup Funding Espresso – What Is a Certified Fraud Examiner

What Is a Certified Fraud Examiner

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

A certified fraud examiner (CFE) is a professional with credentials in fraud detection, deterrence, and prevention.

A CFE performs fraud examinations and reviews compliance.

They gather evidence, capture statements from the persons involved, generate reports, and testify to the findings. 

They coordinate the investigation with the authorities and work with them to recover the missing funds. 

In addition CFEs can design anti-fraud programs. 

Many work as compliance specialists with companies.

Companies hire CFEs to identify causes of fraud and recover losses.

CFEs run fraud examinations to see if fraud occurred, who was responsible and how much money was stolen.

Actions from a fraud investigation begin when a complaint is filed.

The defendant is given a time frame to respond to the allegations.

Financial fraud is defined as an intentional act resulting in financial misstatements.

Examples include improper revenue recognition such as fictitious revenue. 

Fraud investigations take up to two months to run. 

Consider using a certified fraud examiner in your case.

 

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

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