- NY Credits : 5.0
- TX Credits : 5.0
This course assists with the understanding of the consideration of fraud in a financial statement audit. It provides auditors with operational guidance in fulfilling the responsibility to plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement as it relates to fraud in an audit of the financial statements conducted in accordance with GAAS. The auditor is provided ample information to understand the nature, timing, and impact of frauds being uncovered every day through this presentation of up-to-date facts and statistics on the frauds as found and studied by the Association of Certified Fraud Examiners in their Report to the Nation on Occupational Fraud and Abuse. This course meets the requirements to qualify for both California: Prevention, Detection and/or Reporting of Fraud and Association of Certified Fraud Examiners (CFE) fraud categories.
This course is most beneficial to professionals new to planning and performing audits to obtain reasonable assurance about whether the financial statements are free of material misstatement as it relates to fraud in an audit of financial statement conducted in accordance with GAAS. It is beneficial at the staff or entry level positions as well as for a seasoned professional with limited exposure to this subject.
Upon successful completion of this course, the user should be able to:
recognize the description and characteristics of fraud;
identity fraud risk factors; and
identity the fraud risk factors relating to misappropriation of assets and the internal controls that can be used to reduce fraud risk; and
recognize audit team discussions, obtaining information, and identifying and assessing risks.