Introduction

In today’s world, where organizations face increasing challenges in combating financial fraud, the ability to detect and handle fraudulent activities has become an essential skill for every professional seeking to maintain organizational integrity and financial stability. The “Certified Financial Fraud Examiner” certification focuses on developing participants’ skills in detecting and analyzing various types of financial fraud, including financial statement fraud (management fraud), asset misappropriation (employee fraud), as well as corruption and conflicts of interest.

Through comprehensive content covering fraud prevention and advanced fraud investigation, participants will gain the ability to effectively address these challenges using appropriate legal tools, including the Law of Evidence adopted in the Kingdom of Saudi Arabia. This course provides trainees with practical tools to develop their expertise in this specialized field, enhancing their ability to make sound financial decisions and contribute to protecting organizations from financial risks.

Certification Granting Body

The certification is granted by the Saudi Organization for Chartered and Professional Accountants, a professional organization that leads and supervises the accounting and auditing profession in the Kingdom of Saudi Arabia through the expertise and skills it possesses. Its objective is to improve and develop professional practices, monitor quality performance, raise awareness of professional standards and ethics, and enhance participation in serving the national economy and society.

The organization also works to support individuals, institutions, and related business sectors to increase trust and transparency in financial statements and protect investors and users of financial reports.

Objectives

By the end of this course, participants will be able to:

• Understand the concept of fraud and its various dimensions in financial contexts.
• Explain the difference between financial statement fraud (management fraud) and asset misappropriation (employee fraud).
• Identify corruption and its various forms within organizations.
• Interpret other types of fraud that organizations may encounter and how to address them.
• Define conflicts of interest and their impact on financial integrity.
• Explain anti-fraud procedures within organizations.
• Master advanced investigation techniques in financial fraud cases.
• Understand the Law of Evidence in the Kingdom of Saudi Arabia and its role in financial investigations.

Benefits of Obtaining the Certification

• Enhance your CV and increase opportunities for prestigious jobs and promotions within leading organizations.
• Demonstrate professional responsibility and the competencies required to perform job duties efficiently.
• Increase knowledge of theoretical concepts and regulations related to fraud prevention.
• Gain opportunities to network with professionals in the same field and exchange expertise and knowledge.
• Have your name listed among certification holders on the official website of the Saudi Organization for Chartered and Professional Accountants.

Certification Topics

• Introduction to Fraud
• Financial Statement Fraud (Management Fraud)
• Asset Misappropriation (Employee Fraud)
• Corruption
• Other Types of Fraud
• Conflict of Interest
• Fraud Prevention
• Advanced Fraud Investigation
• Law of Evidence in the Kingdom of Saudi Arabia

Academic Eligibility for the Examination

The following candidates are eligible to sit for the examination to obtain the Certified Financial Fraud Examiner certification:

• Holders of a Bachelor’s degree or higher in Accounting from recognized universities and colleges.
• Holders of a Bachelor’s degree or higher in Economics, Administration, Law, Legal Studies, or related disciplines from recognized universities and colleges, provided the applicant has completed twenty-one accounting credit hours (or equivalent as recognized by the الهيئة السعودية للمراجعين والمحاسبين).
• Holders of one of the following professional certifications issued by the الهيئة السعودية للمراجعين والمحاسبين:
  • SOCPA Fellowship Certificate
  • Accounting Technician Certificate
• Holders of fellowship certifications issued by the following professional organizations:
  • Saudi Organization for Chartered and Professional Accountants (SOCPA)
  • American Institute of Certified Public Accountants (AICPA)
  • Institute of Chartered Accountants in England and Wales (ICAEW)
  • Association of Chartered Certified Accountants (ACCA)

For more details, you may visit the official website of
SOCPA Official Website

Examination Details

• The exam consists of 100 multiple-choice questions.
• Exam duration: 150 minutes.
• Total score: 100 marks.
• Passing score: 60%.
• Exam locations: Riyadh, Jeddah, and Dammam, as determined by the الهيئة السعودية للمراجعين والمحاسبين.
• Exam or retake fee: SAR 1,200.

Certification Support and Recognition in Saudi Arabia

The certification is supported by the Human Resources Development Fund (HRDF - Hadaf). Saudi nationals can claim reimbursement for training and examination fees after successfully passing all parts, up to a maximum of SAR 5,800. The certification has been officially approved since January 2024.

What the Preparatory Course Includes

• Attendance of the preparatory course for the exam
• Specialized professional instructor
• Electronic summaries and supporting references
• Mock exams simulating the actual test
• Certificate of attendance for the preparatory course
• Access to recorded sessions for a limited review period
• WhatsApp groups for follow-up and support
• Practical applications and case studies

Main References for Studying the Certified Financial Fraud Examiner Certification

The primary reference for the certification is the official book issued by the Saudi Organization for Chartered and Professional Accountants. A copy can be requested through the official website:

SOCPA Official Website

Target Audience

• Employees of regulatory authorities
• Internal audit departments and units
• Accountants and finance professionals in companies and institutions
• Certified Public Accountants
• Lawyers and legal services professionals
• Individuals interested in forensic accounting
• Governance, Compliance, and Risk Management Officers