Auditing for Fraud

Friday, October 01, 2021
Webcast or Webinar, Online
1:00 PM - 2:50 PM (opens at 12:30PM) EST
2Credits
Accounting and Auditing

Registration is Closed

Online registration for this course is now closed. Please contact the Member Service Center at (800) 342-3197 if you wish to inquire about registering.

Members
$79.00 Regular Price
Non-Members
$109.00 Regular Price
Course Type: Webcast
Course Code: 21/AC711122
Level: Intermediate
Vendor: ACPEN
Field of Study: Auditing

Overview:

SAS No. 122, AU 240, Consideration of Fraud In A Financial Statement Audit requires that when a CPA is performing a financial statement audit, they must plan and perform their audit in such a manner that it will detect a material misstatement of the financial statements.  This presentation is not an overview of AU 240, rather it’s a descriptive Where The Rubber Meets The Road.  What are some of the actual procedures that should be performed; who do you need to talk to (that you have probably never spoken to before); how to talk to individuals (you can’t talk to everyone the same or you won’t get the information you are looking for); what type of person does it take to be a successful fraud auditor (not everybody can be a good fraud examiner); how management appears to encourage fraud; how society encourages fraud; the importance of internal controls that limit risks; the concept of the Perception of Detection; and the importance of the control environment in deterring risks.  Changes are, after viewing this presentation, you will never look at an audit the same.

Objectives:

  • How to analyze the Tone At The Top
  • Recognizing how change presents opportunities
  • Understanding the importance of professional skepticism and how one obtains it
  • Define how the discovery of an error and the discovery of a fraud change the scope of an audit in a different manner
  •  Analyze a document for indicators of fraud
  • Discover why you should always conduct a fraud examination in anticipation of going to court (regardless what your client says)

Major Topics:

  • Auditing
  • Fraud

Designed For:

External and Internal Auditors, Fraud Examiners

Prerequisite:

None