According to ACFE President and CEO Toby J.F. Bishop, this growth reflects a growing demand for trained anti-fraud professionals to address continuing concerns about fraud in business and government.

"The implementation of the Sarbanes-Oxley Act has led audit committees and boards of directors to recognize that fraud is a long-term trend that we need to fight every day," Bishop said. "Many organizations are just beginning to realize how big a risk, and cost, fraud represents and they are educating themselves to fight fraud effectively."

Not only is the ACFE's membership setting records, but also the number of people pursuing the Certified Fraud Examiner designation is up too. Approximately 15,000 ACFE members hold the CFE designation and over 1,600 ACFE members are currently studying for the CFE exam.

Bishop attributes the rise in CFE holders to a variety of factors. First, more companies and government departments are requiring or encouraging selected employees to complete the ACFE's training so they can apply best practices to fighting fraud in their organization. Second, more CPAs are benefiting from CFE training because it helps them better detect fraud and become better skilled as auditors. Third, CFEs are earning higher salaries than non-CFEs in similar jobs.*

But according to Bishop, "CFE candidates will be pleased to see that success in studying for the CFE exam is rewarded by average compensation that is significantly higher than for non-CFEs." "There's a massive need for more CFEs to meet the growing demand," Bishop adds. "That's unlikely to change anytime soon." 

The ACFE has published the 2004 Report to the Nation on Occupational Fraud and Abuse, a comprehensive report that sheds light on occupational fraud and abuse while offering lessons and insights about its detection and deterrence. The 2004 Report to the Nation is available to download free of charge at www.CFEnet.com/report

*In November 2004, the ACFE will release the results of its first-ever 2004-2005 Compensation Guide. This report is based on compensation levels of 3,750 US-based anti-fraud professionals who work in a variety of fraud-related disciplines including accounting, auditing, fraud investigation, security/loss prevention, government, healthcare, law enforcement, etc.