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My CFE technical review process is the following: I would read the Knotia chapter readings alongside the CPA Competency Map. The competency map is used to guide the depth of my review. For example, since my CFE elective role is Finance, I only need to pay attention to the levels required for Core for the Assurance competency. However, for Assurance, I was able to find a lot more free materials online to aid my study. As a result, I can scan several chapters and refresh/learn the audit concept by watching the videos I am sharing in this post.

Before I begin with the free resources, I want to caution against relying on them completely. Also, as the quality of the material varies, it is important that you pay attention to that. When in doubt, my suggestion would be to consult with the appropriate CPA handbook available on Knotia.

Read all of my CPA CFE posts here

Audit and Assurance

As you go down this list, you will most likely realize that many of the videos are from the same three channels: Dr. Amanda White’s AmandaLovesToAudit, Michael McLaughlin’s Edspira and Charles Hall’s CPA Hall Talk. This is because all three educators create such easy-to-understand educational content. Therefore, these channels are definitely my personal go-tos. Instead of following the list, you can browse through their channels to see what interests you. However, my intention for this post is to organize the videos so they are grouped with the related Knotia chapters.

Chapter 3 – Client Acceptance

Edspira’s video on client acceptance or continuance

Chapter 5 – Materiality

AmandaLovesToAudit’s video on materiality & an extra one related to COVID that’s interesting
CPA Hall Talk’s video on materiality and performance materiality

Chapter 6 – Risk

AmandaLovesToAudit’s video on the audit risk model & an interesting video on significant risks
Edspira’s video on the audit risk model

Chapter 7 – Fraud

AmandaLovesToAudit’s video on auditor’s responsibility when it comes to fraud (note, this video is based on the Australian audit standard ASA240)
CPA Hall Talk’s video on auditor’s responsibility for fraud
HTK Academy’s write up on CAS 240

Chapter 8 – Going Concern

Edspira’s video on going concern opinion
AmandaLovesToAudit’s video on the effects of coronavirus on audit

Chapter 9 – Approach

brainyboi’s (an accountant based in Toronto, ON) video on audit planning memo (highly recommended as this video was created for Canadian CPA students)
AmandaLovesToAudit’s video on audit strategy

Chapter 10 – Analytical Procedures, Chapter 12 – Test of Controls & Chapter 15 – Substantive Procedures

AmandaLovesToAudit’s video on the different types of analytical procedures & this one on tests of controls vs substantive tests
Edspira’s video on risk assessment tests, tests of controls and substantive procedures

Chapter 13 – Assertions

AmandaLovesToAudit’s video on assertions and the application of assertions

Chapter 19 – Subsequent Events

HTK Academy’s write up on CAS 560
AmandaLovesToAudit’s video on how to answer questions related to subsequent events

Chapter 20 – Auditor Report

Edspira’s video on types of audit opinions
The Finance Storyteller’s video on auditor’s report

Chapter 21 – Compiliation and Review Engagements

CPA Hall Talk’s video on the differences between complication, review engagement and audit

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1 Comment

  1. […] It’s not related to CFE prep but since I am writing CFE in 2021, I thought I would share: I got my first dose of COVID vaccine today! My arm is slightly sore at the time of writing this (3 hours after the shot) but I suspect it could be due to my overly imaginative mind. Knowing that I most likely will be tired from the side effects of the vaccine tomorrow, I decided to wrap up my assurance review tonight. I also organized the YouTube videos I used for my assurance review in this post here. […]

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