From 1988 to Present: The ACFE Looks Back at 25 Years

In 1985, a casual conversation between accountant-turned-FBI agent Dr. Joseph T. Wells, CFE, CPA, and Dr. Donald Cressey, the foremost criminologist in the country, planted the seed for what would become the world’s largest anti-fraud organization.

September 2013 

By ACFE Staff 

  

In 1985, a casual conversation between accountant-turned-FBI agent Dr. Joseph T. Wells, CFE, CPA, and Dr. Donald Cressey, the foremost criminologist in the country, planted the seed for what would become the world’s largest anti-fraud organization. Just three years after that fateful day, the Association of Certified Fraud Examiners (ACFE) was born – and the rest, as they say, is history. 

  

Together with its global membership of more than 67,000 anti-fraud professionals, the ACFE is celebrating its 25^th anniversary – marking a quarter-century of leading a profession that was itself created by Dr. Wells and his founding of the association. Prior to the existence of the ACFE, fraud detection and deterrence were generally handled by two disparate groups: accountants who didn’t know anything about investigating fraud, and investigators who didn’t know anything about accounting.  

  

Dr. Cressey had suggested to Dr. Wells that “what you need to do is combine these disciplines.” A few years later, Dr. Wells did just that. The culmination of this insight led to the formation of a common body of knowledge known today as fraud examination and forever bridged a gap. 

  

Twenty-five years later, Certified Fraud Examiners (CFEs) are actively fighting fraud every day, making a huge impact in business and government around the world. As experts in fraud detection, deterrence and detection, these leading professionals are the face of the ACFE – from Worldcom whistleblower Cynthia Cooper to Madoff gumshoe Harry Markopolos, from the investigators of the UN oil-for-food scandal to the thousands of other CFEs who are putting their skills to use to protect corporations, businesses and government agencies and fight fraud.  

  

Some notable ACFE milestones from the past 25 years: 

  

1988 – First CFE credential awarded (to Nancy Bradford, who later became CFO of the ACFE)  

1989 – First five ACFE chapters form: Austin, Denver, Dallas/Fort Worth, Houston, Springfield, Ill. 

1989 – First elected Board of Regents installed  

1990 – The Fraud Examiners Manual is published  

1990 – First CFE Convention is held in San Diego  

1993 – Name of the organization becomes official: “Association of Certified Fraud Examiners”  

1999 – More than 1,500 attend the 10^th Annual ACFE Fraud Conference  

2001 – The ACFE forms the Anti-Fraud Education Partnership  

2001 – Members-only e-newsletter, the Fraud Examiner, is launched 

2004 – The White Paper becomes Fraud Magazine  

2005 – ACFE establishes the Law Enforcement (and Government, as of 2013) Partnership 

2007 – ACFE opens London office  

2010 – ACFE Corporate Alliance is created for large organizations 

2013 – Membership exceeds 65,000, with approximately one-third from outside of the U.S. 

2013 – More than 2,600 attend the 24^th Annual ACFE Fraud Conference  

  

The ACFE is reflecting on these and other achievements in articles, blogs and multimedia presentations to share its history with members around the globe, from those who are new to the profession to others who have been along for the ride since 1988. Don’t miss the following features in this trip down memory lane: 

  

Fraud Magazine: The latest issue of FM is full of retrospectives. In addition to the milestones presented above, a more complete historical timeline is available, as well as an interview with ACFE President and CEO James D. Ratley, CFE, and articles featuring the ACFE Board of Regents and a look at how the ACFE Global Fraud Conference has evolved. 

  

ACFE Insights: Learn from Fraud Magazine Editor-in-Chief Dick Carozza, CFE, how the profession has changed since the founding of the ACFE in 1988, a time when “lonely auditors and accountants were trying to fight fraud in a system that wouldn't even recognize the word.” 

  

Fraud Talk: The ACFE’s monthly podcast features a conversation with three of the ACFE’s earliest founders and supporters, Dr. Wells, Mr. Ratley, and Jeanette LeVie, CFE, ACFE VP of Administration. Hear how perseverance and a commitment to growing the anti-fraud profession helped make the ACFE a reality. 

  

Today, the ACFE has more than 67,000 members in over 150 countries around the globe. The idea sparked by a casual conversation in 1985 has grown into the largest and premier organization for fraud training and resources, with members around the world who serve as the first-line of defense against fraud. Do you have memories to share from the first 25 years? Where will the ACFE be in another 25 years, on its 50^th anniversary? Give us your thoughts by leaving a comment below.