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Your business deserves to thrive. That’s why it’s important to think about having an, in-house Certified Fraud Examiner to help keep your business on top. A certified fraud examiner, or CFE, is someone that focuses on looking for fraud within an organization and finding ways to prevent it from happening. We’re here to help you understand what exactly a certified fraud examiner does and why you need one…

What is a CFE?

A certified fraud examiner (or CFE) is a professional that is trained in detecting, investigating and resolving fraud cases. CFEs generally have a background in accounting, auditing, criminology or law, and are trained to see things that aren’t necessarily easy to see for someone who isn’t experienced. Fraud can look like a regular stack of papers, electronic documents, numbers or figures, which is what makes it important to hire a professional. A CFE can take their investigative skills and accounting proficiency to pile evidence, put the clues together and later bring that evidence to court.

Fraud Prevention & Detection

When owning a business or organization it’s important to know that everything is running smoothly and no one is being taken advantage of, especially the business. The CFE can use their accounting and auditing expertise to provide you with an analysis of financial records in association with detecting fraud and investigating possible cases of theft. Often times the CFE can determine the amount of financial loss, if there is any, along with any illegal accounting practices. Certain industries such as the ones listed below can experience money loss due to fraud:

  • Law enforcement
  • Attorneys
  • Insurance companies
  • Businesses and organizations

To help prevent or detect suspicious activity from happening before it’s too late, hiring a Certified Fraud Examiner is the safe way to run your business.

Expert Witness Services

If legal action has to be taken you will need someone certified to represent you in your case. The CFE can back you up and present his or her opinion to either support or oppose the evidence that was submitted to the court. A certified fraud examiner has the competence to go to trial whereas many CPAs and auditors are not.

Litigation Support

Litigation support involves the assessment of economic damages agreeable to current or possible litigation using accounting and auditing techniques. CFEs have the ability to provide these services, depending on the extension of each case:

  • Investigate confirmed or potential fraud.
  • Provide a written report of their investigative findings.
  • Work to testify you as an expert witness or consulting expert.

Certified Fraud Examiners tend to serve both roles as consulting expert and expert witness, also known as a testifying expert. The difference between the two is that a consulting expert doesn’t testify.

At Bodine Perry, our staff is knowledgeable, experienced and can assist in the computation and documentation of any probable economic loss or damages. If you or someone you know is looking into hiring a certified fraud examiner, don’t hesitate. You could be saving yourself legally and financially by hiring a professional to look into what you can’t see. We’re to help you when it comes to fraud management. Call (855) 851-8318 or visit bodineperry.com and get started with us today.

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