technical

Assurance on the CFE
Date: July 15, 2019
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I’m not sure why people are afraid of Assurance on the CFE. I find this the easiest of all the competency areas. It is comprised of a few simple topics and required that keep coming up in different forms and scenarios on the CFE. Internal Control weaknesses/issues- Use the WIR format here. Weakness, Implication, Recommendation […]

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Passing profile and levels explained for the CFE
Date: June 15, 2019
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Level 1- passing at level 1 means you have achieved a sufficient number of RC’s and C’s across the 2 days of the CFE. Level 2- passing profile at level 2 means that you’ve achieved DEPTH on Financial Reporting (FR) OR Management Accounting throughout the 2 days of the CFE. Keep in mind that you […]

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CFE Technical focus: AR and AP Procedures
Date: December 7, 2018
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Account receivable Customer bankruptcy – Review correspondence provided by trustee to make sure that customer in fact did file for it and determine the realizable value of the AR Examine sales invoices and shipment documents relating to that customer during the year Conduct subsequent receipt testing to test valuation and existence For Existence, send AR […]

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CFE Technical focus: PP&E Procedures
Date: December 1, 2018
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Here are some examples for property, plant and equipment: Valuation: When fair value (FV) is used – obtain reliable documentation and determine if the FV developed by management is appropriate. Consider use of specialist if unable to determine FV. Examine the residual values used if they are significant and appropriate Determine if significant parts are […]

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CFE Technical focus: Inventory Procedures
Date: November 27, 2018
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Here is an example of Inventory: ​ Key risk: Existence, Completeness, Valuation Existence: To ensure this assertion risk is addressed on the CFE-Select a sample from inventory listing(sheet) to floor Completeness: To ensure this assertion risk is addressed on the CFE- Select a sample from floor to the listing (sheet) Valuation: To ensure that this […]

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CFE Technical focus – Audit and Assurance- Procedures
Date: November 26, 2018
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​Many of you have been asking me to blog about technical topics and how to integrate them with the CFE exam process. The next few blogs will be about technical integration with the CFE. When discussing assurance procedures, ensure that you provide the assertion, the risk and the actual procedure. The 3 questions you need […]

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study
Let’s get started
Date: April 13, 2017
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Welcome 2017 CFE writers. For those of you writing in September, it’s time to get started with your exam/study prep. You have a solid 5 months before the CFE.  Here’s a play by play list of what you should be doing for the coming months… April: your goal during this month is to write two […]

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