Whistleblowing has captured media attention in recent years, in part due to the large awards being paid out under federal programs. Because of the type of work CPAs perform, it is likely that they will encounter an opportunity for whistleblowing sometime during their career. While the potential rewards of being a whistleblower may be enticing, the risks should also be considered. This article, the first of two on the topic, distinguishes between internal and external whistleblowing, and offers a comprehensive guide on three key federal whistleblower statutes: the False Claims Act, the IRS Whistleblower Program, and the SEC Whistleblower Program.