Join thousands of finance professionals who are committed to fighting fraud

Masterfile Fraud Prevention Specialist Certification

Learn more about CFPS

Become a Certified Masterfile Fraud Prevention Specialist

Join thousands of finance professionals who are committed to fighting fraud
Learn more about CFPS

Go Further With The CFPS Credential

Fraud Mitigation is rated as a highest priority for over 92% of businesses globally.

With fraud ever evolving and on the rise, organizations worldwide are at greater risk and need to safeguard their businesses from fraud’s devastating impact.

CFPSs are trained professionals who possess a unique set of diverse skills in detecting and preventing one of the most common fraud types in finance which occurs.

The CFPS Programme has been designed to equip participants with the knowledge, skills and techniques required mitigate the risk of fraud within the Accounts Payable department, in-particular the Vendor Masterfile. The approach, tools and techniques acquired can be applied immediately back at work.

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Gain the skills to be proactive in fraud prevention

What you learn How you learn FAQs

How to prevent fraud in the vendor matsterfile using a robust framework consisting of a 3 Step Vendor Setup & Maintenance Process to implement Authentication Techniques, Internal Controls, and Best Practices to Protect the Vendor Master File from Fraud.

  • 5 Authentication Techniques
  • 12 Vendor Master Internal Controls
  • 13+ Vendor Master Best Practices
  • 8 Step Process for Vendor Clean Up
  • 5 Step Process for Mergers & Acquisitions into your Vendor Master File
  • Handout Resource: Vendor Validation Resource with Links
  • Handout Resource: Authentication Reference Template
See the course overview
  • Experience fresh insights, new perspectives and a host of practical exercises that broaden your fraud awareness and prevention accumen.
  • Illuminate your understanding of vendor masterfile maintenance. Immerse yourself in an environment where everything applies directly to your business.
  • Analyse your businesses current fraud risk, processes and procedures and apply preventative measures
  • Explore real-world scenarios through pre-recorded masterclasses with IFOL Trainers
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What is the enrolment process?

Enrolments are processed online and can be completed in just a minute or two, which means you can begin the course straight away.

Get started by firstly creating your IFOL Academy user account, followed by payment of course fees via credit or debit card. If you require an invoice for you employer or would prefer to pay fees by bank transfer, you can request an invoice during enrolment.

Who is CFPS relevant for?

All finance, procurement and administrative professionals who are involved in setting up new vendors, maintaining vendor data or making payments to vendors.

Are there any entry requirements?

There are no formal entry requirements, the program is open to everybody regardless of prior qualifications or experience.

Is there an online exam?

The CFPS exam is online within the IFOL virtual academy. The exam is split into 3 sections; Validation, Authentication and Management. Each part of the exam is taken at the end of the relevant module within the course.

Which countries is CFPS available in?

CFPS is available globally and sees thousands of enrolments each year across US, Canada, UK, Europe and further afield.

What costs are involved?

The course and exam fee is set a $295.00 per person and provides lifetime access to the CFPS course which is updated annually.

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How do I obtain the CFPS designation?

If you work in accounting or finance, and have a desire to propel your career, you can earn the CFPS® designation by taking the CFPS Study Programme and passing the exam.

Step 1: Course

Complete the 3 chapter CFPS online course along with the supplementary pre-recorded masterclasses to gain the knowledge required to pass the CFPS exam and become a fraud prevention expert.

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Step 2: Exam

Pass the 30 question exam with a minimum of 80% correct answers to achieve the CFPS designation and receive the official certificate accredited by The Institute of Financial Operations and Leadership

Benefits of obtaining the CFPS designation

Earn the leading professional credential for AP Fraud Prevention

As CFPS credential holder you are eligible for Certified Full Membership (CFM) with the Institute of Financial Operations and Leadership which provides over 120 hours of continuing education each year.

CFPS’s are experts in the Fraud Prevention in Accounts Payable and posses expert knowledge which employers globally are seeking.

CFPS holders earn an average of 14% more than their non certified counterparts as identified in IFOL’s global salary survey 2022.

All CFPS’s are encouraged to maintain their professional development and attend IFOL’s Accounts Payable and P2P Leadership Conferences in USA, Canada and UK. 

Gain full access to IFOL’s monthly, quarterly and annual research reports and white papers.

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