CFE case studies
CFE · Put your knowledge to work in context.
The Certified Fraud Examiner (CFE) credential is awarded by the Association of Certified Fraud Examiners (ACFE), which describes itself as the world's largest anti-fraud organization, delivering training, offering the CFE credential and fostering a global community of anti-fraud professionals. The credential is designed for people whose work involves detecting, investigating, resolving or deterring fraud - internal auditors, external auditors, accountants, compliance and risk staff, investigators, law-enforcement and government personnel, and executives with fraud-related responsibility. The CFE case studies are 5 cases and about 4,551 words.
1The Hotline That Nobody Calls
Northline Components, a 900-employee manufacturer, contracts with a third-party ethics hotline at a cost of about 45,000 a year. Over the past twelve months the hotline logged 12 reports; internal audit substantiated two of them (a timesheet issue and a small expense reimbursement scheme) with combined losses near 9,000.
665 words, about 3 min2The Warehouse That Holds Everything
Harbor Point Supply distributes industrial parts. December-quarter revenue is 38% above the prior three quarters; 24% of it was invoiced in the final five business days.
881 words, about 4 min3The Vendor With the Post Office Box
During an unannounced review you find 14 duplicate payments totaling $186,400 to "Ridgeline Industrial Supply." Ridgeline's remit-to address is a post office box in the small town where accounts payable clerk Dana Reyes lives. Ridgeline was added to the vendor master eleven months ago by Dana's supervisor, who also approved all 14 invoices personally.
944 words, about 5 min4The Consultant in the Basement Office
A facilities manager at a regional hospital incorporated a consulting company and, over three years, approved $1.2 million in invoices from it for "commissioning services." His employment agreement required annual disclosure of outside business interests; he never filed one. Confronted, he produced an email sent two years ago to his director stating that he was "exploring some outside consulting" and asking whether "this needs a form." The director never replied.
1,007 words, about 5 min5The Fishing Lodge and the Fax Machine
A city transit agency's procurement manager awarded six of nine bus-parts contracts over two years to Halvard Components. Halvard's prices averaged 14% above the two other qualified bidders.
1,054 words, about 5 min