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Larry C. Adams, CPA
Phoenix, Arizona USA
Certified Public Accountant
Certified Fraud Examiner
E-mail
fraudwritr@aol.com
Telephone (602) 995-8008
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FAQs - Frequently Asked
Questions
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What is a Certified Fraud Examiner (CFE)?
What is the CFE Code of Professional Ethics?
What is a Certified Public Accountant?
What is a Certified Internal Auditor?
What is a Certified Information Systems Auditor?
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| What is a Certified Fraud Examiner
(CFE)?
Top A Certified Fraud Examiner is trained in highly-specialized
aspects of the detection and prevention of fraud and white-collar crime.
A Certified Fraud Examiner gathers evidence, takes statements, writes reports, and
testifies to the findings.
To become a CFE, a person must pass the rigorous CFE
Examination on the subjects of accounting and auditing, investigation, law, and
criminology. A four-year college degree and two years of professional experience
are typically required. After that, a CFE is required to complete an additional
20 hours of training each year.
The Association of
Certified Fraud Examiners, established in 1988, is based in Austin, Texas, and
has 27,000 members.
Certified Fraud Examiners
come from various professions, including auditors, accountants, fraud
investigators, loss prevention specialists, attorneys, educators, and
criminologists. Most major corporations and government agencies employ CFEs.
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What is the CFE
Code of Professional Ethics?
Top
- A Certified Fraud
Examiner shall, at all times, demonstrate a commitment to professionalism and
diligence in the performance of his or her duties.
- A Certified Fraud
Examiner shall not engage in any illegal or unethical conduct, or any activity
which would constitute a conflict of interest.
- A Certified Fraud
Examiner shall, at all times, exhibit the highest level of integrity in the
performance of all professional assignments and will accept only assignments
for which there is reasonable expectation that the assignment will be
completed with professional competence.
- A Certified Fraud
Examiner will comply with lawful orders of the courts and will testify to
matters truthfully and without bias or prejudice.
- A Certified Fraud
Examiner, in conducting examinations, will obtain evidence or other
documentation to establish a reasonable basis for any opinion rendered. No
opinion shall be expressed regarding the guilt or innocence of any person or
party.
- A Certified Fraud
Examiner shall not reveal any confidential information obtained during a
professional engagement without proper authorization.
- A Certified Fraud
Examiner will reveal all material matters discovered during the course of an
examination which, if omitted, could cause a distortion of the facts.
- A Certified Fraud
Examiner shall continually strive to increase the competence and effectiveness
of professional services performed under his or her direction.
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| What is a Certified
Public Accountant?
Top A Certified Public Accountant offers a wide range
of assistance, including business financial services, personal financial
services,
auditing/accounting and tax advisory services. CPAs often serve as consultants
on management, human resource and litigation issues.
CPAs are considered to be among the most trusted financial advisors, and adhere
to strict professional standards of conduct. In order to keep their CPA
designation, they are required to meet continuing education requirements that
keep them up-to-date on changing accounting standards.
For
certification in Arizona, a baccalaureate degree with accounting courses plus
two years of work experience is required. The Uniform CPA Examination is 14
hours long. It includes four sections on 1) Auditing and Attestation, 2)
Financial Accounting and Reporting, 3) Regulation, and 4) Business Environment
and Concepts. After passing the exam, 80 hours of continuing professional
education is required every two years.
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| What is a Certified Internal Auditor?
Top
Since 1974, the Institute
of Internal Auditors' premier certification, the Certified Internal Auditor
(CIA) designation, has reflected competence in the principles and practices of
internal auditing and has served as the only internationally accepted
designation for internal auditors.
Internal auditing involves going beyond the
accounting and financial records to obtain a full understanding of the
operations under review. Internal auditing assists all levels of management by
providing them with analyses, appraisals, recommendations, and comments about
the activities reviewed.
Internal auditing is an independent appraisal of
the diverse operations and controls within an organization to determine whether
acceptable policies and procedures are followed, established standards are met,
resources are used efficiently and economically, and the organization's
objectives are being achieved.
The Certified Internal Auditor has an obligation
to the profession, management, stockholders, and the general public to maintain
high standards of professional conduct, honesty, and objectivity.
After completing the requirements of two years of internal auditing work
experience and passing the two-day CIA Examination, a minimum of 80 hours of
continuing professional education is required every two years.
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| What is a Certified Information Systems Auditor?
Top The CISA Examination covers:
- Information systems audit
- Management, planning and organization of information systems
- Technical infrastructure and operational practices
- Protection of information assets
- Disaster recovery and business continuity
- Business application system development, acquisition, implementation, and
maintenance
- Business process evaluation and risk management
A minimum of five years professional information systems auditing, control,
or security work experience is required for certification. After certification,
a minimum of 20 hours of continuing education is required annually.
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