Calls for anti-fraud regulation

Link: Special role for accountants in Met’s fraud fight

Paul Carratu, the new president of the UK division of the Association of Certified Fraud Examiners and MD of Carratu International, is determined to lobby for a properly registered and regulated fraud investigation industry – more similar to the US situation where the CFE qualification is widely accepted as a basic requirement for fraud investigation professionals.

‘The UK market is totally unregulated – someone can come out of prison and away they go into the industry. There are no government plans to bring in an accepted qualification. It just doesn’t see an urgent need,’ he said.

Carratu has also noted much interest from accountants, either looking to take a qualification or wanting to work with fraud investigators that have a recognised qualification themselves.

‘Accountants and lawyers are crying out to go to someone with a recognised standard,’ Carratu said. ‘And accountants are always looking for new areas to work in.’

He added that the qualification will hopefully become recognised from within the fraud examination industry.

‘This year was the first time in the UK that you could sit a CFE exam. Current members will now have to go through a CPD programme, along with those that passed the exam.’

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