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Certified Forensic Accountant, Cr.FA Certification

Written by AnonymousAugust 2, 2011
Forensic Accounting

If you’re looking to improve your career in accounting, obtaining an accounting certificate is an excellent first step. Accounting certifications can expand your accounting knowledge and increase your proficiency in a specific area of the accounting field.

Introduction to Certified Forensic Accountant Certification 

Using a combination of accounting, auditing, and investigative skills, forensic accountants help legal professionals who are investigating complicated financial matters that may involve wrongdoing on someone’s part. The services they provide include calculating or estimating economic damages and determining whether illegal financial activities have taken place.

The Certified Forensic Accountant Cr.FA consists of a comprehensive forensic accounting course designed to educate you about relevant topics such as

  • Judicial procedure and evidence
  • Providing expert testimony
  • Approaches to fraud detection
  • Damages analysis
  • Valuation

The Cr.FA also distinguishes your practice by providing an official validation of your competence and skill. It can lead to greater professional opportunities because it shows potential clients and employers that you’ve met high national standards. The American College of Forensic Examiners International (ACFEI) issues the credential.

Because of its educational component, the Cr.FA program is approved for G.I. Bill benefits. If you’re a veteran, be sure to research opportunities for fee reimbursement on the G.I. Bill’s website.

Key Steps to Certified Forensic Accountant Certification

In order to be eligible for Cr.FA certification, ACFEI expects that you 

  • Hold the Certified Public Accountant (CPA) designation and, if your state requires it, register with your State Board of Accountancy
  • Have a bachelor’s degree or higher
  • Have a background in forensic accounting
  • Have no record of disciplinary action from any state, province, or territory certification/licensing board in the last ten years, nor are you under investigation
  • Are not a convicted felon
  • Complete and pass the Cr.FA examination
  • Provide the ACFEI with photocopies of all degrees, diplomas, certificates, and licenses earned
  • Present the names and phone numbers of three professional references; though no letters of recommendation are necessary

If you aren’t a CPA but meet all the other requirements to enroll in the Cr.FA program, you can earn a Certificate of Completion upon passing the exam but can’t use the Cr.FA designation.

Details of the Certified Forensic Accountant Exam

The Cr.FA exam is an online test covering information related to forensic accounting and made up of 100 multiple choice and true-or-false questions. The test is offered through the ACFEI website, which also provides a digital study guide that you can review at your leisure prior to taking the test. As of 2011, applicants are required to pay a $495 fee, which includes the exam and test study material.

If you fail the exam, you can only retake it twice. The fee is reduced to $100 when you retake the exam.

As soon as you receive confirmation that you’ve passed the test, you can begin to use the Cr.FA designation — you don’t need to wait until you receive official documentation from ACFEI.

Maintaining the Certified Forensic Accountant Designation

To maintain your Cr.FA status, you’re required to complete 15 hours of forensic accounting-related continuing education credits each year.

The initial Cr.FA course fulfills the first year’s continuing education requirement by providing you with 15 CE credits.

The ACFEI offers online courses and a national conference that meet this requirement.

Governing Board Information

Cr.FA designation is issued by

The American College of Forensic Examiners International
2750 E. Sunshine St.
Springfield, MO 65804
417.881.3818
www.acfei.com