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Fraud: Essential Audit Tools and Techniques (4172872D)

 
Date:Wednesday, March 21, 2018
Time:11:30AM - 3:00 PM
(Registration at 11:00AM)
Facility:Webcast or Webinar, Online
CPE Credit:4.0 Accounting and Auditing
Instructor: Thomas E. Noce
Vendor:California CPA Education Foundation
Course Level:Basic
Early Bird Price:$120.00 FICPA Members, $180.00 Non-Members

Description:

When an audit is performed in accordance with generally accepted auditing standards, a high level of assurance is provided that the financial statements are free of material misstatement caused by fraud or error. Fraud is pervasive, however, and it is critical that auditors familiarize themselves with current procedural, performance and documentation standards related to fraud—and be prepared to respond appropriately when fraud is uncovered. Receive an overview of the general concepts of risk assessment required by professional standards. In addition, get an in-depth review of the specific, fraud-related requirements, including changes resulting from the AICPA Audit Standards Board's Clarity Standards.



Objectives:
  • Determine and implement concepts embodied in the AICPA audit risk assessment model as it pertains to fraud.
  • Identify how the Clarity Standards have confirmed integration of fraud into the risk assessment requirements.
  • Recognize the concept of the fraud triangle.
  • Identify differences between the auditor's required response for material versus immaterial fraud risks.
  • Identify risks of material misstatement due to fraud and select appropriate or required further audit procedures.


Major Topics:
  • Audit risk assessment model.
  • Assessing and responding to the risk of material misstatement resulting from fraud.
  • Fraud is found: now what?
  • Internal controls design, specifically as it relates to fraud prevention and detection.
  • Documentation methods related to fraud risk assessments and corresponding responses.


Who Should Attend:

Individuals responsible for planning or conducting audit engagements, and practitioners and those in industry desiring to understand current fraud related audit requirements.



Prerequisite:
None.

Advanced Preparation:
None.

Session/Options

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Registration Status: OPEN