The announcement comes just one week after ACFE Chairman Joseph Wells targeted accountants with a statement that CPAs are "ignorant" about fraud and lack the necessary training to fight it.

"Implementing Sarbanes-Oxley 404 has demonstrated both the challenge and the opportunity to reduce the risk and cost of fraud," said ACFE President Toby Bishop. "Leading audit committees, boards of directors, CEOs and CFOs are realizing that fighting fraud effectively is not a one-time activity. It requires ongoing effort and can produce a very attractive financial return."  

ACFE's 35,000th member, Lynn Bloom, CPA, CGAP, an internal auditor for a public school district in Baltimore, said she joined the ACFE to expand her anti-fraud expertise and obtain the CFE designation. "It is my belief that Sarbanes-Oxley will continue to impact non-profits and government agencies because we are not exempt from fraud. Earning the CFE designation will help me assist my office in combating fraud, and the best way to do that is to know how to find it, and how to prevent it," she said.

ACFE recently released its 2005 Compensation Guide, which shows that CFEs earn about 26 percent higher compensation than their non-credentialed counterparts.