CFE study plan

Map the full fraud tree from memory, distinguishing asset misappropriation, corruption, and financial statement fraud by their defining characteristics

Trace the mechanics of skimming, cash larceny, and register disbursement schemes, including how each is concealed in the accounting records

Differentiate check tampering, billing, expense reimbursement, and payroll schemes by the false document or claim each relies on

Identify the specific red flags, ratio anomalies, and internal control gaps that signal each cash scheme

Distinguish bribery, illegal gratuity, economic extortion, and conflict of interest using the element that separates each

Classify financial statement fraud schemes by whether they overstate assets/revenue or understate liabilities/expenses

Compute gross margin, asset turnover, and receivables/ inventory trend ratios and explain how each shifts under revenue and asset overstatement

Explain how concealment works in financial statement fraud, including journal entry manipulation, related-party transactions, and disclosure omissions

Match each inventory, payables, and revenue scheme to the audit procedure most likely to detect it

Sequence the phases of a fraud examination from predication through disposition and state what must be true before each phase begins

Distinguish witness, subject, and expert interviews and select the correct questioning approach for each

Apply cognitive interviewing and admission-seeking techniques, including the Reid-style behavioral symptom progression

Classify evidence as testimonial, documentary, physical, or observational and describe how each is authenticated

Apply Benford's law, gap testing, duplicate testing, and vertical/horizontal analysis to a data set to surface anomalies

Draft an investigation report that states predication, scope, procedures, findings, and recommended action per professional standards

Explain chain-of-custody, documentation, and confidentiality requirements for retaining and transmitting evidence

Define the elements of fraud and identify what the examiner must prove for each element

Distinguish the sources of law-constitutional, statutory, regulatory, and common law-and give an example of each affecting a fraud examination

Contrast civil and criminal proceedings on burden of proof, parties, remedies, and consequences for the subject

Apply the Fourth, Fifth, and Sixth Amendment rights of the accused to interview, search, and detention scenarios

Determine when attorney-client, marital, clergy, and physician-patient privileges attach and how they limit testimony

Apply the rules of relevance, hearsay and its exceptions, and the best evidence rule to admissibility questions

Explain the anti-fraud statutes most tested on the exam, including their prohibited conduct and jurisdictional triggers

Apply the fraud triangle, fraud diamond, and ACFE fraud scale to fact patterns and predict where deterrence should be targeted

Design a fraud risk assessment that identifies, scores, and prioritizes inherent risks and maps them to controls

Distinguish preventive, detective, and deterrent controls and give concrete examples of each

Describe the elements of an effective ethics and compliance program, including tone at the top, hotlines, and whistleblower protections

Explain corporate governance structures-board, audit committee, internal audit, and external audit-and each one's fraud oversight role

Re-drill the three weakest sub-topics identified in the midpoint error log until accuracy exceeds 85%

Explain the auditor's and examiner's responsibilities for fraud detection under professional standards and how those differ from management's

Reconcile overlapping concepts across domains-for example, how a control gap in domain 1 becomes a scheme in domain 2 and evidence in domain 3

Apply professional ethics and independence requirements to gray-area scenarios

Sit two full-length timed mock exams under test-day conditions and review every miss the same day

Recall the fraud tree, legal-elements sheet, and ratio formulas from memory without notes

Practice pacing and flag-and-return strategy across a four-section exam format

Confirm exam-day logistics: appointment, ID requirements, testing environment, and permitted materials