SAQA All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source.
SOUTH AFRICAN QUALIFICATIONS AUTHORITY 
REGISTERED QUALIFICATION: 

Advanced Certificate: Fraud Examination 
SAQA QUAL ID QUALIFICATION TITLE
67269  Advanced Certificate: Fraud Examination 
ORIGINATOR ORIGINATING PROVIDER
  Association of Certified Fraud Examiners 
QUALITY ASSURING BODY NQF SUB-FRAMEWORK
FASSET - Financial and Accounting Services SETA  OQSF - Occupational Qualifications Sub-framework 
QUALIFICATION TYPE FIELD SUBFIELD
Advanced Diploma  Field 03 - Business, Commerce and Management Studies  Finance, Economics and Accounting 
ABET BAND MINIMUM CREDITS PRE-2009 NQF LEVEL NQF LEVEL QUAL CLASS
Undefined  120  Level 6  NQF Level 07  Regular-Provider-ELOAC 
REGISTRATION STATUS SAQA DECISION NUMBER REGISTRATION START DATE REGISTRATION END DATE
Reregistered  SAQA 0695/12  2012-07-01  2015-06-30 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2016-06-30   2019-06-30  

In all of the tables in this document, both the pre-2009 NQF Level and the NQF Level is shown. In the text (purpose statements, qualification rules, etc), any references to NQF Levels are to the pre-2009 levels unless specifically stated otherwise.  

This qualification does not replace any other qualification and is not replaced by any other qualification. 

PURPOSE AND RATIONALE OF THE QUALIFICATION 
Purpose:

The aim of this program is to provide the opportunity to have an international agreed minimum standard for fraud/forensic investigators and auditors in South Africa, equal to international standards. The purpose of this qualification is to equip ACFE members with skills necessary to carry out fraud examinations efficiently, effectively and ethically and in so doing help to reduce business fraud and to inspire public confidence in the integrity and objectivity of fraud examiners and work.

Rationale:

The Association of Certified Fraud Examiners (ACFE) is a member-based global association dedicated in providing anti-fraud education and training. The ACFE is an international, professional organisation with 45000 international and 1300 SA members.

Membership consists of Internal and External Auditors, Prosecutors, Attorney', Investigators in the private and public domain, and SAPS officials. This qualification is needed by the sector the provide Fraud Examiners with the necessary, knowledge, skills and attitudes to perform their task as fraud examiners in a variety of settings and sectors. 

LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
It is assumed that learners are competent in Communication at NQF Level 6.

Access to the Qualification:

In order to promote high standards of professionalism and ethics, the ACFE requires candidates who wish to enrol for this qualification to meet certain professional, academic, and character-based criteria. Learners must meet the following requirements:
  • Be an associate member of the ACFE in good standing.
  • Meet the minimum Academic and Professional requirements.
  • Be of high moral character.
  • Agree to abide by the Bylaws and Code of Professional Ethics of the Association of Certified Fraud Examiners.
  • Have at least two years professional experience and or a Bachelors degree.

    The following requirements apply:

    Academic requirements:

    Generally, applicants for CFE certification have a minimum of a Bachelor's degree (or equivalent) from an institution of higher learning. Ilearners without a Bachelor's degree, may substitute two years of fraud-related professional experience for each year of academic study.

    Professional Requirements:

    Learners must have at least two years of professional experience in a field either directly or indirectly related to the detection or deterrence of fraud. The Board of Regents has established the following categories as acceptable fraud-related experience:
  • Accounting and Auditing: leaners may qualify if you they have experience as an accountant or auditor (e.g. internal or external auditor), and have certain responsibilities for the detection and deterrence of fraud by evaluating accounting systems for weaknesses, designing internal controls, determining the degree of organizational fraud risk, interpreting financial data for unusual trends, and following up on fraud indicators.
  • Criminology and Sociology: Only those professionals with education or research in the fraud and white-collar crime dimensions of sociology or criminology may claim experience under this category. An experienced background in general sociological fields is insufficient.
  • Fraud Investigation: Experience in the investigation of civil or criminal fraud, or of white-collar crime for law enforcement agencies or in the private sector, qualifies. Examples include federal, state, or local law enforcement (e.g. IRS, inspectors general, and district attorneys, investigators). Insurance fraud investigators and fraud examiners working for corporations, businesses, or associations qualify as well.
  • Loss Prevention: Security directors for corporations and associations who deal with issues of loss prevention may claim this experience as credit. Security consultants dealing with fraud-related issues also are eligible. Experience as a security guard or equivalent is not acceptable.
  • Law: Candidates with experience in the legal field might qualify, provided the experience deals with some consideration of fraud. Examples include prosecuting lawyers, fraud litigators, and others with an anti-fraud specialization.

    If the learner's experience does not fall into one of the above categories, but his/her responsibilities include the detection, investigation, or deterrence of fraud, he/she may submit an application and it will be considered. 

  • RECOGNISE PREVIOUS LEARNING? 

    QUALIFICATION RULES 
    N/A 

    EXIT LEVEL OUTCOMES 
    1. Understand Criminology concepts and the ethics of the fraud eaxmination profession.

    2. Describe the types of fraudulent financial transactions.

    3. Investigate fraud.

    4. Understand illegal elements of fraud.

    Critical Cross-Field Outcomes:
  • The programme develops all the Critical Cross-Field Outcomes. 

  • ASSOCIATED ASSESSMENT CRITERIA 
    Associated Assessment Criteria for Exit Level Outcome 1:
  • Criminological concepts such as administartion of criminal justice, theories of crime causation are explained.
  • Theories of fraud prevention, are discussed.
  • Crime information sources and related ethical issues are analysed.
  • The underlying ethics of the fraud examination profession are discussed.

    Associated Assessment Criteria for Exit Level Outcome 2:
  • The different types of fraudulant financial transactions incurred in accounting records are explained.
  • Basic accounting and auditing theories are explained.
  • Fraud schemes are explained.
  • Internal controls to deter fraud and other auditing and accounting matters are described.

    Associated Assessment Criteria for Exit Level Outcome 3:
  • Interviews are conducted.
  • Statements are taken effectively.
  • Information from public records are obtained and analysed.
  • Illicit transactions are tracked.
  • Deception is determined and evaluated.
  • Reports are written to effectively convey findings of the investigation.

    Associated Assessment Criteria for Exit Level Outcome 4:
  • The legal ramifications of conducting fraud examinations are assessed.
  • The legal issues related to criminal and civil law, rules of evidence, rights of the accused and accuser, and expert witness matters are discussed.

    Integrated Assessment:

    The CFE Exam is a Windows-based application in CD-ROM format, and has a number of sophisticated controls to ensure that the integrity of each exam is generated from a master database. No two tests are alike. It will take approximately 10 hours to complete the CFE Exam. Each section is allocated a maximum of 2.6 hours to complete.

    Each of the four exam sections has 125 questions and you will have a maximum of 75 seconds to answer each question. You have only 30 days to complete all four sections of the CFE Exam and return it to the ACFE for grading, and need complete each section in one sitting. You however do not need to complete all four sections at once. 

  • INTERNATIONAL COMPARABILITY 
    Although mostly self-study, the following schools offer the CFE Exam Course to assist members of ACFE who wish to undergo certification:
  • New York University.
  • Northwestern University.
  • Seneca College.

    Both the CFE and it's exam is recognised and accepted in 141 chapters around the globe. SA is registered as chapter 91. A number of the SA Universities currently make use of the ACFE's material (including the manual) in courses presented by the Universities. The University of Pretoria, the University of Potchefstroom,and RAU are only a few using ACFE material during their courses (Advanced Certificate in Fraud Examination - UP, Higher Diploma in Forensic Accounting and Investigation - UP). 

  • ARTICULATION OPTIONS 
    N/A 

    MODERATION OPTIONS 
    All members are required to pass the CFE Examination in order to earn their CFE designation.

    In order to be awarded the qualification learners must obtain at least 75% for each and every section. Test scores and examination are moderated by the Board of regents of the ACFE.

    In addition:
  • Assessors and moderators assessing a learner or moderating the assessment of an assessor against this Qualification must be registered as an assessor and/or moderator with a relevant Education and Training Quality Assurance (ETQA) Body.
  • Formative assessment will be conducted internally with internal moderation being done by registered moderators. The moderation body is the relevant Education and Training Quality Assurance (ETQA).
  • Moderation must include both internal and external moderation of assessments at exit point of the Qualification. 

  • CRITERIA FOR THE REGISTRATION OF ASSESSORS 
    For an applicant to register as an assessor for this Qualification, the applicant should:
  • Hold a relevant qualification at least on NQF Level 7.
  • Have workplace experience in fraud detection.
  • Be registered as an assessor with the relevant ETQA. 

  • NOTES 
    As per the SAQA decision, after consultation with the Quality Councils, to re-register all qualifications and part qualifications on the National Qualifications Framework that meet the criteria for re-registration, this qualification has been re-registered from 1 July 2012.
    As per the SAQA decision to re-register all provider-based qualifications on the National Qualifications Framework that meet the criteria for re-registration, this qualification has again been re-registered from 1 July 2009. 

    UNIT STANDARDS: 
    This qualification is not based on Unit Standards. 


    LEARNING PROGRAMMES RECORDED AGAINST THIS QUALIFICATION: 
     
    NONE 


    PROVIDERS CURRENTLY ACCREDITED TO OFFER THIS QUALIFICATION: 
    This information shows the current accreditations (i.e. those not past their accreditation end dates), and is the most complete record available to SAQA as of today. Some Quality Assuring Bodies have a lag in their recording systems for provider accreditation, in turn leading to a lag in notifying SAQA of all the providers that they have accredited to offer qualifications and unit standards, as well as any extensions to accreditation end dates. The relevant Quality Assuring Body should be notified if a record appears to be missing from here.
     
    1. DITASA 
    2. Self-study - FASSET 
    3. STRATEGIC INVESTIGATIONS AND SEMINARS (PTY) LTD 



    All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source.