As a financial training expert, I can provide you with essential information on how to pass the SOFA-CFE (Certified Financial Examiner) exam. The SOFA-CFE is an internationally recognized certification that demonstrates an individual's proficiency in financial examination and analysis. This exam is designed to test the knowledge, skills, and abilities of financial examiners in the public and private sectors. Passing the SOFA-CFE exam requires comprehensive knowledge of financial examination principles, auditing standards, and risk management techniques.
Exam Objectives:
- Understanding the principles and practices of financial examination
- Identifying and assessing financial risks
- Performing audit procedures and analysis
- Applying laws, regulations, and standards
- Communicating financial examination findings and recommendations effectively
The SOFA-CFE exam is intended for financial examiners, auditors, analysts, and other professionals who are responsible for assessing financial risks, analyzing financial data, and ensuring compliance with regulations and standards. The prerequisites for taking the exam include a bachelor's degree in accounting, finance, or a related field and at least two years of relevant work experience in financial examination or auditing. Alternatively, candidates can also qualify for the exam with a master's degree in a relevant field or by completing an approved training program in financial examination.
Related Books:
- Financial Statement Analysis and Security Valuation by Stephen Penman
- Financial Shenanigans: How to Detect Accounting Gimmicks and Fraud in Financial Reports by Howard Schilit
- The Analysis and Use of Financial Statements by Gerald I. White and Ashwinpaul C. Sondhi
- Financial Risk Manager Handbook by Philippe Jorion
- Auditing and Assurance Services: An Integrated Approach by Alvin A. Arens, Randal J. Elder, and Mark S. Beasley
Exam Details:
- Cost: The cost of the SOFA-CFE exam is $725 USD.
- Passing Mark: The passing score for the exam is 75%.
- Time: The exam consists of 200 multiple-choice questions that must be completed within four hours.
- Delivery Method: The exam is delivered online through a secure testing platform.
- Format: The exam consists of multiple-choice questions that test the candidate's knowledge of financial examination principles, risk management techniques, and audit procedures.
To prepare for the SOFA-CFE exam, candidates should study the relevant exam topics, review the related books, and take practice exams to identify areas of weakness. It is also recommended that candidates attend training courses or workshops to gain additional knowledge and skills in financial examination and analysis. By following these steps and putting in the necessary effort, candidates can pass the SOFA-CFE exam and demonstrate their proficiency in financial examination.